S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Stocks To Buy As World Temperatures Rise: July 2024 Was The Hottest Month Ever For Some Regions
Array Technologies Lowers FY24 Outlook: Adj EPS From $1.00-$1.15 To $0.64-$0.74 Vs $1.08 Estimate; Sales From $1.25B-$1.40B To $900M-$1.00B Vs $1.30B Estimate
TD Cowen Maintains Buy on SolarEdge Technologies, Lowers Price Target to $35
Shoals Technologies Gr Analyst Ratings
Wall Street Rallies As Economic Concerns Recede, Tech Flexes Its Muscles, Semiconductors Soar: What's Driving Markets Thursday?