Stock Market Overview
Mon, Oct 7th, 2024
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Stocks Pressured by Reduced Rate-Cut Expectations and Middle East Tensions
Barchart - 1 hour ago
The S&P 500 Index ($SPX) (SPY) today is down by -0.33%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.40%.
Stocks today are mildly lower, pressured by higher bond yields. The 10-year T-note yield climbed to a 2-month high today on bearish carryover from last Friday when the stronger-than-expected US Sep payroll report eliminated the market odds for a -50 bp rate cut by the Fed at next month’s FOMC meeting. Strength in energy stocks is limiting the downside in the broader market, with WTI crude oil (CLX24) up more than +2% at a 7-week high.
Middle East tensions have also dampened the appetite for risk assets and are a negative stock factor. In addition to Gaza, Israel is waging a ground and air offensive in Lebanon to combat Hezbollah. The Israel Defense Force (IDF) said today that it deployed a third division of troops in southern Lebanon while maintaining airstrikes in Beirut’s southern suburbs. ... Read more
Is PulteGroup's Low P/E Ratio a Hidden Gem or a Risky Bet?
Zacks Investment Research - 1 minute ago
PulteGroup, Inc. PHM stock is currently trading at a discount relative to the Zacks Building Products - Home Builders industry. With a forward 12-month Price/Earnings ratio of 10.31x, it sits well below...
China's Stock Market Rockets 30% in 5 Days: Should You Invest Now Before It's Too Late?
Barchart - 12 minutes ago
After several years of economic turmoil, regulatory crackdowns, and uncertainty surrounding China's growth prospects, Chinese stocks have staged a stunning comeback.
General Mills Rallies 18% in 3 Months: Buy, Hold or Sell GIS Stock?
Zacks Investment Research - 17 minutes ago
General Mills, Inc. GIS has been enjoying gains from its strategic portfolio reshaping, cost-saving initiatives and focus on innovation. The company’s shares have rallied 17.8% in the past three months,...
RTX Secures a $255M Contract to Support Standard Missile Program
Zacks Investment Research - 17 minutes ago
RTX Corp. RTX recently secured a modification contract involving its Standard Missile. The award has been provided by the Naval Sea Systems Command, Washington, D.C.Details of the DealValued at $254.5...
CenterPoint Inks Deal With Neara to Enhance Electric Resiliency
Zacks Investment Research - 17 minutes ago
CenterPoint Energy CNP announced that it has signed an agreement with Neara, an Artificial Intelligence (AI)-powered infrastructure modeling platform for engineering-grade simulations and analytics. The...
Scholar Rock Ignites Retail Buzz As Stock Rockets 300% On Positive Muscle-Targeted Therapy Trial
Stocktwits - 30 minutes ago
Scholar Rock said it plans to submit a U.S. Biologics License Application and seek European Union marketing authorization in Q1 2025
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