| | | On Thursday, indices ended the session with mixed results following the release of new GDP growth data and Nvidia's latest earnings report. The S&P 500 remained largely flat at 5591.96, while the Nasdaq 100 dipped slightly by 25.32 points (-0.13%) to close at 19325.46. In contrast, the Dow Jones rose by 243.63 points (0.59%) to finish at 41335.05.
On the U.S. economic front, second-quarter GDP growth accelerated by 3% quarter-over-quarter, surpassing the anticipated 2.8% increase and up from the 1.4% growth seen in the first quarter. Meanwhile, initial jobless claims for the week ending August 24th came in at 231,000, below the expected 237,000 and down from the prior week's revised figure of 233,000 (previously 232,000).
In terms of sector performance, Energy, Financials, and Industrials led the way, while Technology, Consumer Staples, and Real Estate lagged behind.
In the latest corporate developments, Nvidia (NVDA), a semiconductor giant, dropped 6.38% after its current-quarter gross margin forecast disappointed investors, despite quarterly earnings that beat expectations. Dollar General (DG), a discount store operator, plunged 32.15% after cutting its full-year guidance.
On a positive note, Apple (AAPL), the consumer electronics giant, was named Citigroup's top AI pick for 2025. Additionally, the Wall Street Journal reported that Apple is considering investing in OpenAI's latest funding round, boosting its stock by 1.46% during Thursday's session. Affirm Holdings (AFRM), a payment company, surged 31.92% as its current-quarter sales forecast exceeded expectations. Best Buy (BBY), a consumer electronics retailer, also rose 14.11% after raising its full-year earnings outlook. Lastly, CrowdStrike Holdings (CRWD), a cybersecurity firm, gained 2.83% after reporting better-than-expected second-quarter top and bottom-line results.
Additionally, following today's trading action, the CBOE Volatility Index (VIX) tumbled -1.46 (-8.53%) to 15.65 and the 10-Year Yield advanced 0.03 (0.68%) to 3.867%. In the commodities market, Gold climbed $53.4 (2.14%) to 2554.4 while Crude oil (WTI) climbed $1.4 (1.88%) to 75.92.
Forex Market Update
The U.S. dollar index rose 0.3 (0.29%) to 101.387.
EUR/USD dropped 42pips (-0.38%) to 1.1078.
GBP/USD fell 24pips (-0.18%) to 1.3166.
USD/JPY increased 38pips (+0.26%) to 144.95.
USD/CHF gained 47pips (+0.56%) to 0.8469.
AUD/USD added 13pips (+0.19%) to 0.6798.
USD/CAD climbed 3pips (+0.02%) to 1.3483.
Wrapping up, in the crypto market, Bitcoin climbed $414.82 (0.7%) to $59442 while Ethereum advanced $7.15 (0.28%) to $2535.
After Hours
Dell Technologies (DELL), a computer technology company, is gaining in extended trading following better-than-expected second-quarter results. Marvell Technology (MRVL), a semiconductor developer and producer, is also climbing after providing a strong third-quarter revenue forecast. Lastly, Lululemon Athletica (LULU), a designer of athletic apparel and accessories, is up after hours following second-quarter earnings that exceeded estimates. | | | | | | | |
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