Published • loading... • Updated
Wall St Indexes Advance with Boost From Chips, Iran Optimism
Technology and chip stocks led gains as traders weighed a 50% chance of a September rate hike, according to CME Group's FedWatch tool.
- Intel shares rose in premarket trading after President Donald Trump said Apple agreed to manufacture chips domestically, as technology shares led Wall Street’s higher opening amid optimism surrounding a new United States and Iran peace deal.
- Buoyed by a resilient economy, markets regained ground from early June slumps following the interim agreement. This deal extends the April ceasefire by 60 days and "seems to be usurping any negative sentiment," said Art Hogan.
- Rumble jumped 15.4% following its acquisition of Northern Data, while Micron and Marvell Technology added 5% and 5.9% respectively. Conversely, Accenture tumbled after trimming its annual revenue forecast, and Kroger dropped 7.8% on lower profit.
- Thursday also marked the quarterly "triple witching" expiry of derivatives contracts, which can aggravate volatility and boost trading volume. Investors are pricing in a higher chance of a September rate hike, rising from 27% on Wednesday.
- Oil prices slid to a more than three-month low, keeping hopes alive that inflation could be tamed without hiking interest rates. This optimism persists despite Federal Reserve Chair Kevin Warsh signaling potential increases in borrowing costs ahead.
Insights by Ground AI
15 Articles
15 Articles
Asian equities retreat as hawkish Fed and sliding tech futures weigh,
Asian equity markets traded lower on Friday, failing to carry over momentum from an overnight gain on Wall Street, where tech strength and optimism over a U.S.-Iran deal were offset by a hawkish Federal Reserve. Sentiment was further pressured as U.S.
·United States
Read Full Article
Wall St indexes advance with boost from chips, Iran optimism
·New York, United States
Read Full Article
Falling oil prices and successful ship passage through the Strait of Hormus alleviate the interest fears of the US investors. The previous day, a speech by the new Fed boss had pushed Wall Street on the loss track. SpaceX gives off the second day in a row.
Father's Day SaleGet 40% off Vantage subscriptions for yourself or a friend.Get Started
Coverage Details
Total News Sources15
Leaning Left1Leaning Right3Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
11%
C 56%
R 33%
Factuality
To view factuality data please Upgrade to Premium
