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XLK Jul 2024 232.500 call
| Previous close | 4.5500 |
| Open | 5.8800 |
| Bid | 1.5600 |
| Ask | 6.4000 |
| Strike | 232.50 |
| Expiry date | 2024-07-26 |
| Day's range | 4.5500 - 5.8800 |
| Contract range | N/A |
| Volume | |
| Open interest | 15 |
- Yahoo Finance Video
Dow leads charge, S&P 500 and Nasdaq flat at open
Stocks (^DJI, ^IXIC, ^GSPC) appear mixed at Friday's session open, with the Dow Jones Industrial Average leading gains early in the trading day. Morning Brief's Brad Smith and Madison Mills monitor the five-day moving averages for the big three indexes, while Jared Blikre takes a look at sector gains and Nvidia's (NVDA) position in the Technology Select Sector SPDR Fund (XLK) ETF. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Investors are favoring Big Tech due to 'benchmark FOMO'
Big Tech continues to dominate much of investor focus on Wall Street as it continues to perform well, with Evercore ISI Research claiming Nvidia (NVDA) could become 10-15% of the weight of the S&P 500 (^GSPC). RBC Capital Markets Equity Derivatives Strategist Amy Wu Silverman joins Catalysts to give insight why investors continue to focus on a couple of names in big tech rather than broaden out to different sectors. "I really feel bad at some point for these investors because I think the investors overall have really wanted to do a trade that's essentially a bet on the broadening out of the market, so they want to look at energy, they want to look at these other sectors. But then at the same time, there's this this problematic benchmark FOMO," Wu Silverman explains. "And that's sort of what I started to call it, which is just when you have a few names doing all the heavy work for the indices and you're not over-allocated to it, then you're dragging your benchmark." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
- Yahoo Finance Video
'Rise of AI' continues to fuel market strength: Strategist
According to the US Census Bureau, retail sales growth in May slowed to 0.1% versus an expected 0.3% increase for the month. What does this signal from consumers and for potential changes in the Federal Reserve's interest rate policy? BlackRock Global Chief Investment Strategist Wei Li joins Catalysts to discuss her latest note addressing inflation, how it relates to the recent retail sales report, and why AI and tech may lead to an increase in overall inflation. "Despite the fact that markets priced out five cuts by the Fed in 2024 compared to beginning of the year, equities are very strong. And the reason that equities are very strong is because we have seen very strong earnings driven by AI and tech-related names," Li explains. "So there is a bit of a disconnect between what rate markets are suggesting and what equity markets are actually doing. And the reconciliatory term here is the 'rise of AI' and what that means for powering stronger and stronger earnings, which is why we are positive on broad equity market." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
