Workflow
Equity Rally Hits A Wall After CPI | Closing Bell
Bloomberg Televisionยท2025-07-15 21:55

Market Performance & Trends - The S&P 500 closed lower, while the Nasdaq Composite closed slightly higher [2][7] - Information Technology sector in the S&P 500 rose by 13%, driven by gains in chip companies [9] - Cyclical sectors lagged, with Dow transports down 16%, S&P 400 mid-caps down 18%, and Russell 2000 down 2% [8] - Bitcoin experienced a 3% decrease after reaching a record high of 120,000 [4] Company Specific News - NVIDIA shares increased by 4% after receiving assurances from the US government regarding export licenses for its H-20 chip to China [3][10][11] - Citigroup's shares rose by 37%, reaching their highest level since 2008, following strong regulatory stress test results and increased stock buybacks [12][13] - MP Materials shares surged by nearly 20% after Apple committed $500 million to buying the company's American-made rare earth magnets [14][15] - Wells Fargo's shares fell by approximately 5% after missing second-quarter net interest income estimates and lowering its full-year guidance for NII [15] - BlackRock's shares dropped by 5% after revenue and performance fees missed estimates, despite total assets reaching a record $125 trillion [17] - Newmont's shares fell by 57% following the resignation of the company's chief financial officer [18] - Omnicom reported second-quarter revenue of $42 billion, slightly above the consensus estimate of just under $4 billion, and adjusted EPS of $205, beating the consensus estimate of $198 [16] - J P Hind reported second-quarter EPS of $131, a penny higher than street estimates, and revenue of $293 billion, also a slight beat [21] Economic Factors - France is considering axing two public holidays in an attempt to tackle the deficit, which could give a boost of several billion euros to the country [23][25] - Kerrygold Butter is planning to slow down its U S investment due to uncertainty regarding Trump's trade settlement with the European Union [26] - The 30-year yield is pinned at the 5% mark, with the 20-year yield also camped out there [19]