XPEV - Wall Street Eyes Cautious Start Nvidia Falls: Optimistic Analyst Says S&P 500 Could Challenge All-Time Highs Multiple Times In Second-Half | Benzinga
U.S. stocks could start the week on a tentative note, going by the trading in the futures market. The subdued mood comes on the back of a very solid performance so far this year. Nvidia Corp. (NASDAQ:NVDA) will likely extend its slide and exert downward pressure on tech stocks. A bullish analyst, on the other hand, predicts an incremental 15% gain for tech stocks in the second-half of the year. Daniel Ives from Wedbush expects tech fundamentals to accelerate as AI use cases materially expand.
On Monday, traders could keep an eye on bond yields amid the release of two manufacturing activity readings. The 10-year Treasury note yields are back above 4.4%. Global cues are mostly positive, and commodities are trading in the green.
Futures Performance (+/-)
Nasdaq 100 +0.07%
S&P 500 +0.14%
Dow +0.16%
R2K +0.16%
Cues From Last Week:
Stocks ended the week on a mixed note as traders took stock of disappointing earnings and an encouraging inflation report that showed that the Federal Reserve’s preferred gauge fell to a three-year low. Against the backdrop, the overbought market chose to consolidate its gains.
Techs and small-cap stocks finished the week in the green, while the S&P 500 Index and the blue-chip Dow Industrials Average ended marginally lower.
Index Week’s
Performance (+/-)Month’s
Performance (+/-)Q2
Performance (+/-)Value
Nasdaq Composite +0.24% +5.96% +8.26% 17,732.60
S&P 500 Index -0.06% +3.47% +3.92% 5,460.48
Dow Industrials -0.08% +1.12% -1.73% 39,118.86
Russell 2000 +1.27% -1.08% -3.62% 2,047.69
Insights From Analysts:
The S&P 500 Index has set 31 new highs this year ...