Stocks bounce back after volatile trading session
The S&P 500 and Nasdaq 100 recovered from an afternoon dip, and the Russell 2000 notched another all-time high.
Stocks finished higher after a roller-coaster session, where a morning rally was interrupted by a brief afternoon slide as traders weighed trade war fears against a strong start to earnings season. The S&P 500 and Nasdaq 100 both finished higher while the Russell 2000 notched another record high.
Advanced Micro Devices soared after a big price hike from HSBC, leading a tech rally that powered the Nasdaq 100 higher. The Russell 2000 posted a second consecutive all-time highest close.
Bank earnings continued to be positive, with both Morgan Stanley and Bank of America rising after beating expectations.
Stocks that moved higher:
Hims & Hers surged after announcing that it will now offer treatments for perimenopause and menopause.
Papa John’s ripped higher following reports that Apollo Global Management submitted a renewed bid last week to take the chain private at $64 per share.
Neocloud company CoreWeave rose after it announced a partnership with Poolside to provide more than 40,000 Nvidia GPUs to bolster the development of Poolside’s AI models.
Fuel-cell-based power provider Bloom Energy notched a new intraday record high.
ASML ticked higher after the Dutch semiconductor equipment maker’s Q3 bookings came in 10% ahead of estimates, offsetting a weak outlook in its China business.
Stocks that moved lower:
The rare earth trade reversed, sending Critical Metals, MP Materials, USA Rare Earth, and United States Antimony Corp. sharply lower.
