Home Market News Small Caps <!DOCTYPE html> <html> <head> <title>Market Insights: Inflation, AMD Surge, and Apple Struggles</title> </head> <body> Lively Market Dynamics: Inflation, Record Highs for AMD, and Apple’s Setback

Market Insights: Inflation, AMD Surge, and Apple Struggles Lively Market Dynamics: Inflation, Record Highs for AMD, and Apple’s Setback

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Lively Market Dynamics: Inflation, Record Highs for AMD, and Apple’s Setback

Wall Street eased up as the Federal Reserve’s favored gauge of inflation remained calm in January, alleviating concerns of a potential uptick in the Consumer Price Index (CPI) transmitting to the Personal Consumption Expenditure (PCE) price index.

By midday in New York, the Nasdaq 100 was on the rebound, aiming to erase losses from the previous day. The S&P 500 Index and the Dow Jones Industrial Average showed modest movements, with gains of 0.1% and a slight decline of 0.2%, respectively, while the Russell 2000 edged 0.3% higher.

Notably, Advanced Micro Devices Inc. AMD surged over 6% to hit an all-time high, emerging as a standout performer in today’s semiconductor sector. In contrast, Apple Inc. AAPL struggled, sliding 1% to $178, marking a downtrend with ten negative days out of the last thirteen. Reports suggest discounted sales of Apple’s iPhone 15 series in China, indicating waning demand.

Treasury yields edged lower as traders positioned themselves ahead of a potential rate cut in June. The popular iShares 20+ Year Treasury Bond ETF TLT saw a 0.6% increase.

In the volatile crypto realm, Bitcoin BTC/USD dipped over 2% to $61,000 after hitting an intraday high of $63,675.

Thursday’s Index Performance and ETF Activity

Major Indices Price 1-day % Change
Nasdaq 100 17,949.36 0.4%
Russell 2000 203.07 0.4%
S&P 500 5,077.32 0.1%
Dow Jones 38,881.01 -0.2%

The SPDR S&P 500 ETF Trust SPY rose 0.1% to $506.76, while the SPDR Dow Jones Industrial Average DIA declined 0.1% to $389.15. In the tech space, the Invesco QQQ Trust QQQ surged 0.4% to $437.06, as per Benzinga Pro data.

The Real Estate Select Sector SPDR Fund XLU stood out by gaining 0.8% for the second consecutive day, while the Health Care Select Sector SPDR Fund XLE lagged behind, dropping 0.6%.

Market Movers: Stock Highlights on Thursday

  • Crypto-related stocks face downward pressure with Bitcoin’s decline impacting companies like Marathon Digital Holdings Inc. MARA, down over 17%. Peers Riot Platforms Inc. RIOT, Bit Digital Inc. BTBT, and Coinbase Global Inc. COIN slipped by 12%, 6.5%, and 2.5%, respectively.
  • Snowflake Inc. SNOW plummeted nearly 20% following news of CEO Frank Slootman stepping down. Despite robust earnings, the AI-focused company struggled in the market.
  • Hormel Foods Corp. HRL saw a remarkable uptick of over 13%, leading daily performance in the S&P 500, buoyed by stellar quarterly results exceeding expectations.
  • Notable earnings reactions from companies like Monster Beverage Corp. MNST, up 5.7%, Celsius Holdings Inc. CELH, up 19%, Okta Inc. OKTA, up 19%, among others, shaped market movements.
  • Keep an eye on upcoming earnings releases from companies like Autodesk, Inc. ADSK, Cooper Companies, Inc. COO, and more after market close.

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Image: Midjourney