The final reading for the University of Michigan's Consumer Sentiment Index came in at 59.2, above the preliminary reading of 57.7 but down from last month. With ongoing concern over the debt-ceiling limit, persistent inflation, and news of layoffs, consumers are clearly worried. Durable goods orders unexpectedly increased this month by 1.1%, with transportation and defense contributing the most to the increase. Excluding transportation, orders declined by 0.2%; excluding defense, orders declined by 0.6%. ... more
Shares of chipmaker Marvell Technology (MRVL) are soaring today as the company said that revenues from its AI products will at least double this year. Amazon (AMZN) is up 5% today as investors continue to put their money into companies with upside potential from AI. As the largest cloud-computing company, AMZN could acquire additional business to host new AI projects. Virgin Galactic (SPCE) is down steeply after the company managed to fly its rocket plane to the edge of space yesterday morning. Although the mission was successful, the vehicle flew off course and investors are concerned that space tourism, as it currently exists, cannot be done profitably -- and SPCE has been burning cash for years.
The S&P 500 is up 1.22%, the Dow is up 0.86%, the Nasdaq is up 2.12%, and the Russell 2000 is up 0.99%.
Industries trading higher today include: Automobiles, Multiline Retail, and Semiconductors & Semiconductor Equipment. Industries trading lower today include: Wireless Telecommunication Services, Energy Equipment & Services, and Gas Utilities.
The VIX is down 1.28 at 17.86 after closing yesterday at 19.14. Options on Ulta Beauty Inc (ULTA) have appeared on the most-active list today with more than 8,027 contracts of the June 16 400 put, changing hands. The put/call ratio is 0.83 (2,095,296)/(2,516,638). NYSE Adv/Dec (1,999/910). Nasdaq Adv/Dec (2,733/1,463).
[Argus Research, various news and data sources]
Shares of chipmaker Marvell Technology (MRVL) are soaring today as the company said that revenues from its AI products will at least double this year. Amazon (AMZN) is up 5% today as investors continue to put their money into companies with upside potential from AI. As the largest cloud-computing company, AMZN could acquire additional business to host new AI projects. Virgin Galactic (SPCE) is down steeply after the company managed to fly its rocket plane to the edge of space yesterday morning. Although the mission was successful, the vehicle flew off course and investors are concerned that space tourism, as it currently exists, cannot be done profitably -- and SPCE has been burning cash for years.
The S&P 500 is up 1.22%, the Dow is up 0.86%, the Nasdaq is up 2.12%, and the Russell 2000 is up 0.99%.
Industries trading higher today include: Automobiles, Multiline Retail, and Semiconductors & Semiconductor Equipment. Industries trading lower today include: Wireless Telecommunication Services, Energy Equipment & Services, and Gas Utilities.
The VIX is down 1.28 at 17.86 after closing yesterday at 19.14. Options on Ulta Beauty Inc (ULTA) have appeared on the most-active list today with more than 8,027 contracts of the June 16 400 put, changing hands. The put/call ratio is 0.83 (2,095,296)/(2,516,638). NYSE Adv/Dec (1,999/910). Nasdaq Adv/Dec (2,733/1,463).
[Argus Research, various news and data sources] less