US stocks surged on Thursday as blockbuster Nvidia (NVDA) earnings helped rekindle faith in the AI trade, and rate-cut hopes brightened after the release of the long-awaited September jobs report. The tech-heavy Nasdaq Composite (^IXIC) led the way higher, rising roughly 2.5%, while the S&P 500 (^GSPC) was up more than 1.8%. The Dow Jones Industrial Average (^DJI), which includes fewer tech stocks, rose 1.3%, or over 500 points. Stocks had seen a modest rebound on Wednesday, breaking a four-day losing str ...

US stocks climbed on Thursday, but a bigger rally wavered after blockbuster Nvidia (NVDA) earnings helped rekindle faith in the AI trade, and rate-cut hopes brightened after the release of the long-awaited September jobs report. The tech-heavy Nasdaq Composite (^IXIC) led the way higher, rising roughly 0.5% after climbing as much as roughly 2.5% earlier in the session. The S&P 500 (^GSPC) added nearly 0.4% after gaining as much as 1.8% in early trading. The Dow Jones Industrial Average (^DJI), which inclu ...

Group 1: Walmart's Performance - Walmart exceeded analysts' expectations for both revenue and earnings, raising its outlook for the second consecutive quarter, driven by a strong e-commerce business and an influx of new customers [2] - CFO John David Rainey indicated that Walmart attracted "value-seeking" customers from various income levels, and noted a rebound in sales as SNAP funds are being distributed again following a government shutdown [2] Group 2: Walmart's Acquisition Talks - Walmart is reportedly in discussions to acquire R&A Data, an Israeli startup focused on monitoring online marketplaces for scams and counterfeits, as part of its strategy to enhance online seller vetting processes [3] Group 3: Federal Reserve Insights - Minutes from the Federal Reserve's last policy meeting revealed a division among officials regarding interest rate cuts, with many suggesting no further cuts are necessary for the remainder of the year [4] Group 4: Housing Market Dynamics - The housing market is experiencing its strongest conditions in over a decade, but affordability issues are preventing many potential buyers from participating, with a noted 36% increase in sellers compared to buyers [9][10] - Rising mortgage rates for three consecutive weeks have contributed to a decline in demand from both current and prospective homeowners [10] Group 5: Market Reactions - Semrush shares surged by 74% following Adobe's announcement of a $1.9 billion acquisition deal for the search engine marketing firm [11]

Market Overview - U.S. stock futures rose on Thursday following gains from the previous day, with major benchmark indices showing positive movement [1] - Investors are anticipating September's job report, which is set to be released after the recent government shutdown [1] - The Federal Reserve's minutes indicate a division among officials regarding future interest rate paths, following a recent reduction in the federal funds target range to 3.75%–4.00% [1] Treasury Yields and Market Projections - The 10-year Treasury bond yielded 4.13%, while the two-year bond was at 3.60% [2] - Market projections show a 33.8% likelihood of the Federal Reserve cutting interest rates in December [2] Stock Performance - Nvidia Corp. (NASDAQ:NVDA) rose 5.55% in premarket trading after reporting better-than-expected third-quarter results and a strong revenue forecast [6] - Palo Alto Networks Inc. (NASDAQ:PANW) dropped 4.15% despite beating estimates, as its full-year guidance aligned with analyst expectations [6] - Super Micro Computer Inc. (NASDAQ:SMCI) gained 5.87% following the launch of integrated AI factory systems with Nvidia's technology [6] Sector Performance - Information technology, communication services, and materials stocks led gains on Wednesday, while energy and utilities sectors closed lower [7] Analyst Insights - BlackRock maintains a "pro-risk stance" focused on U.S. equities and the AI theme, believing a cooling labor market may allow for interest rate cuts [9] - Despite volatility in tech stocks, BlackRock views the capital-intensive phase of AI development as necessary rather than a warning sign [10] Upcoming Earnings - Walmart Inc. (NYSE:WMT) was up 0.83% ahead of its earnings report, with expectations of earnings at 60 cents per share on revenue of $177.43 billion [12] - Intuit Inc. (NASDAQ:INTU) was 0.37% higher, with analysts expecting earnings of $3.09 per share on revenue of $3.76 billion [12]

Core Viewpoint - President Trump expressed a desire to fire Federal Reserve Chair Jerome Powell, indicating frustration with the current interest rate levels and suggesting that Treasury Secretary Scott Bessent is preventing him from taking action [1][2][4]. Group 1: Trump's Comments on Powell - Trump stated he would love to fire Powell, emphasizing that interest rates are too high and urging Bessent to address this issue quickly [1][2]. - Trump recounted a conversation where Bessent pleaded with him not to fire Powell, highlighting the tension between the administration's goals and the Fed's actions [3]. Group 2: Federal Reserve's Rate Decisions - The Federal Open Market Committee recently approved a quarter percentage point reduction in the overnight borrowing rate, bringing it to a range of 3.75%-4% [3]. - The minutes from the Fed's October meeting revealed that officials were conflicted about further rate cuts, indicating ongoing discussions within the central bank [3]. Group 3: Administration's Search for Successor - Trump mentioned that his administration is in talks with multiple candidates to succeed Powell, with Bessent involved in the search process [4].

Home Depot (HD) stock closed more than 6% down on Tuesday after the home improvement retailer reported its third consecutive quarter of weaker-than-expected earnings. The company earned $3.74 on a per-share basis in its fiscal Q3, falling short of the $3.84 that analysts had expected, as same-store sales grew just 0.2%, reflecting demand weakness that extends beyond seasonal patterns. More News from Barchart Home Depot stock tumbled Tuesday also because the management lowered its guidance as well, now e ...

LIVE S&P 500 Set to Open Up as Market Braces for Nvidia Earnings Last Updated: Bitcoin remained weak in early trading after reaching an almost seven-month low Tuesday as risk appetite stayed low ahead of the Federal Reserve's meeting minutes and delayed U.S. official jobs data. The Fed minutes will be published at 2 p.m. Eastern time while the September nonfarm payrolls report is due Thursday. Both could provide clues about whether the Fed could cut interest rates again in December. The market is currently ...

Market Sentiment and Economic Indicators - Investors are seeking reassurance from the Federal Reserve regarding interest rate cuts and the stability of the AI trade, which has been a significant driver of market performance [12][13] - The S&P 500 has experienced a pullback of over 3% from its late October all-time high, while the Nasdaq Composite has dropped about 6% from its peak [12] - The Cboe Volatility Index has risen to its highest level in a month, indicating increased market anxiety [12] Federal Reserve and Employment Data - The U.S. government shutdown has delayed the release of key economic data, with the September employment report being particularly crucial for monetary policy [2][6] - The Federal Reserve is expected to consider a rate cut at its December meeting, but recent comments from Chair Jerome Powell suggest that a quarter-point cut is not guaranteed, with futures indicating a roughly 50-50 chance [2][3] - The nonfarm payrolls report is anticipated to significantly influence policymakers' decisions regarding further easing [3] Market Dynamics and Asset Performance - A weak jobs report could bolster expectations for a December rate cut, but there are concerns about the implications of such data on market sentiment [7][12] - The recent pullback in stocks has also affected gold and bitcoin, which had previously shown strong performance [7] - Analysts suggest that the current market correction is a healthy adjustment rather than indicative of a bubble, with the S&P 500's pullback not yet reaching the 10% threshold typically associated with market corrections [9][10] Investment Strategies and Outlook - Investors are advised to reassess their exposure to the market in light of potential for more significant pullbacks [11] - Despite elevated valuations, some analysts remain optimistic about U.S. equities, suggesting that the economic environment is still supportive [10]

Key Points Bitcoin's token price fell below $90,000 for the first time since April in today's trading. Investors have lost confidence in the prospect of another interest-rate cut from the Federal Reserve this year. Bitcoin and other cryptocurrencies are also facing selling pressures in response to other catalysts. 10 stocks we like better than Bitcoin › Bitcoin (CRYPTO: BTC) continued to face valuation pressures in Tuesday's trading. While the market-leading cryptocurrency only briefly slipped bel ...

This post originally appeared in the First Trade newsletter. You can sign up for Business Insider's daily markets newsletter here. As the stock market has gotten more volatile over the last month — currently mired in a four-day skid — the narratives driving those price swings have only crystallized further. It's really a two-horse race of market drivers at this point: (1) how investors are feeling about the red-hot AI trade, and (2) what the Fed plans to do with interest rates. In terms of those tw ...