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Markets rally as recession fears ease: Take action or stay patient?
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Volatility Falls and Tech Climbs Again | Wall Street Today

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Moomoo Recap US joined discussion · Aug 6 16:57
Volatility Falls and Tech Climbs Again | Wall Street Today
The VIX fell 28%, or 10 points today, as the market simmered down from fear and fright mode. Just the close, the $S&P 500 Index (.SPX.US)$ climbed back 1.04% , the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.76%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 1.03%, after falling 4% Monday.
MACRO
The turbulence began last week after multiple earnings reports from the largest companies did not meet estimates. Japan's head Bank considered raising rates Friday, sending the   $Nikkei 225 (.N225.JP)$ down 12%, the worst since the 1980s. The Nikkei climbed back 10% Tuesday morning.
Monday, this week's macro data came in the form of S&P PMI at 54.3 vs 55 estimated, and ISM PMI at 51.4.
Meanwhile, last week's macro numbers pointed to a rush of unemployment. The numbers showed non-farm payrolls dropped from the month before, the economy only added 114k jobs vs 175k forecast and 179k in June, according to the Bureau of Labor Statistics. The unemployment rate in July rose to 4.3%, compared to 4.1% last month.
SECTORS
$Crude Oil Futures(JAN5) (CLmain.US)$ recovered just 0.03% after a three-day drop after the heavy market sell-off yesterday ended and the dollar recovered some ground.
Volatility Falls and Tech Climbs Again | Wall Street Today
"The exhausted bearish momentum yesterday met a greater-than-expected reading for the ISM Services PMI, which was previously retesting 2020 levels," Razan Hilal, a market analyst at Forex.com, said in a note WSJ reported.
"Escalating tensions in the Middle East could revive the role of the dollar as a safe haven asset and boost its positive trends again alongside that of oil," she adds. WTI is off 0.7% at $72.40 a barrel, and Brent is 0.7% lower at $75.75 a barrel.
$Bitcoin (BTC.CC)$ climbed 2.85% back to $56k, Gold and silver pulled back again. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed but stayed just below 4% for the first time since spring 2023, and the   $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed. Every sector in the market climbed on Tuesday.
MOOVERS
$Lumen Technologies (LUMN.US)$ Lumen Technologies jumped 93% after the firm reported $5B in new order bookings the day before its expected earnigns release Tuesday after market close, when it jumped a further 32%.
Shares of $Uber Technologies (UBER.US)$ were rising 10% after the ride-hailing company beat quarterly earnings estimates and delivered upbeat guidance posting earnings of 47 cents a share, beating Wall Street's call for 31 cents.
Henry Schein Inc $Henry Schein (HSIC.US)$ fell 8% after the firm reported a second-quarter adjusted EPS of $1.23, down 6.1% year-over-year, beating estimates by a sent. Sales were $3.10 billion vs estimates of $3.27 billion. It was the lowest decliner on the S&P 500.
Palantir Technologies $Palantir (PLTR.US)$ shares climbed 10% Tuesday after the company reported better-than-expected financial results for the second quarter and raised its guidance. It showed Q2 Revenue of $678.13 million, versus estimates of $652.1 million, and an EPS of 9 cents, versus estimates of 8 cents.
Super Micro Computer ( $Super Micro Computer (SMCI.US)$) shares were trading higher Tuesday after the AI server company gave a forecast for its September quarter and fiscal year 2025 above expectations.
Investors are still awaiting $Disney (DIS.US)$ and   $Novo-Nordisk A/S (NVO.US)$ come out on Wednesday, and   $Eli Lilly and Co (LLY.US)$ comes out on Thursday, alongside dozens of other +$10B MK giants.
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