Live Updates
Live Coverage Has EndedGet The Best Adobe Live Earnings Coverage Like This Every Quarter
Get earnings reminders, our top analysis on Adobe, market updates, and brand-new stock recommendations delivered directly to your inbox.
Click Here - It's Free Thank you for subscribing! Keep an eye on your email for updates. By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you. You can unsubscribe at any time. For more information, please review our Disclaimer and Terms of Use.Bitcoin Resumes Rally
Nov 12, 2024 2:42 PM | Eric BleekerAs of 2:45 p.m. ET, Bitcoin has resumed its rally. After dropping to a little north of $85,000 per Bitcoin this morning, its price is sitting slightly below $90,000.
Bitcoin-adjacent stocks are mixed today.Coinbase (Nasdaq: COIN) is down 1.5% while MicroStrategy (Nasdaq: MSTR) is up 4.2%.
Tech Stocks Leading the Market Today
Nov 12, 2024 2:34 PM | Eric BleekerAs of 2:30 p.m. ET, the Nasdaq has turned slightly green for the day. Tech stocks are leading the gains today. Here’s a look at sector performance across the S&P 500:
- Communication Services: +.54%
- Information Technology: +.52%
- Consumer Staples: +.48%
And laggards include:
- Health Care: -.82%
- Utilities: -1.04%
- Materials: -1.24%
Some stocks from the materials sector that are underperforming includeAlbermarle,which is down 5.82%, andFMC,which has dropped 5.74%.
It’s red across the board today. The Nasdaq Composite, Dow Jones Industrial Average, and S&P 500 are all down in early trading. As of 11:20 a.m. ET, here’s where indexes are trading:
nextstayCCSettingsOffArabicChineseEnglishFrenchGermanHindiPortugueseSpanishFont ColorwhiteFont Opacity100%Font Size100%Font FamilyArialText ShadownoneBackground ColorblackBackground Opacity50%Window ColorblackWindow Opacity0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%200%175%150%125%100%75%50%ArialGeorgiaGaramondCourier NewTahomaTimes New RomanTrebuchet MSVerdanaNoneRaisedDepressedUniformDrop ShadowWhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%WhiteBlackRedGreenBlueYellowMagentaCyan100%75%50%25%0%- Dow Jones Industrial Average:Down 189.57 (-.43%)
- S&P 500: Down 12.72 (-.21%)
- Nasdaq-100: Down 19.36 (-.10%)
- Russell 2000:Down 24.50 (-1.01%)
There isn’t much major macroeconomic news shaping the markets today. John Paul – seen as a leading Treasury Secretary pick – removed himself from consideration. In addition, it appears Donald Trump will pick Mark Rubio for a Secretary of State role, which could have a significant impact on relations with China in the next four years. Rubio is seen as far more ‘hawkish’ than other candidates for the role.
Let’s look at some of the market’s bigger storylines today.
NVIDIA Rising: Up 2% in Early Trading
Shares ofNVIDIA(Nasdaq: NVDA) are the second-best performers in the Dow Jones Industrial average, as of publication NVIDIA is up 2.25%. The likely catalyst for these gains is upgrades on Wall Street. Mizuho raised their price target on NVIDIA to $165 from a prior level of $140.
In addition Redburn-Atlantic initiated coverage at a $178 price target. In addition, Piper Sandler named NVIDIA a ‘top large-cap pick’ and said the stock is must own for the upcoming Blackwell ramp. Piper raised its price target on NVIDIA to $175.
Other Stocks on the Move
Looking across the broader market, Tesla (Nasdaq: TSLA) is finally taking a breather after days of massive gains following the election. The price of Bitcoin is also finally taking a breather after a furious rally, with Bitcoin trading for $86,400 after almost hitting $90,000 last night.
Adobe(Nasdaq: ADBE) is up 4% today after announcing a suite of new AI tools. Beyond technology, Tyson Foods (NYSE: TSN) is up 9% after topping earnings expectations. The company is projecting a strong 2025 thanks to growing demand for chicken products.
"The Next NVIDIA" Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA's historic run, your chance to see life-changing profits from AI isn't over.
The 24/7 Wall Street Analyst who first called NVIDIA's AI-fueled rise in 2009 just published a brand-new research report named "The Next NVIDIA".
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
Get Report Now » It's Free Thanks! We will redirect you shortly to the free report! By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you. You can unsubscribe at any time. For more information, please review our Disclaimer and Terms of Use.