YAHOO FINANCE CHARTBOOK 32 charts that explain markets and the economy right now Zurich - Delayed Quote • USD ISTX P.O.100 EQ.WE.GR USD (17Y8.Z) Follow 183.49 -0.55 (-0.30%) At close: 6:00 PM GMT+2 Related News Why this strategist sees long-term opportunity in the Mag 7 The Magnificent Seven tech stocks are under pressure after second-quarter results from Tesla (TSLA) and Alphabet (GOOGL, GOOG) dampened investor confidence. Scott Chronert, Citi's head of U.S. equity strategy joins Market Domination to discuss his market outlook (^DJI, ^IXIC, ^GSPC). Chronert notes that despite the market pressure, "the underlying growth trajectory fundamentally has not really changed." He explains that current valuations are stretched, necessitating a period of normalization, which he finds markets to currently be in. "If we essentially stretched the implied growth and the valuations too high, then you allow what's perceived as a short-term disappointment to set up for a longer-term buying opportunity, and that's how we're thinking about the Mag Seven and the broader megacap growth construct right now," Chronert tells Yahoo Finance. Regarding AI, Chronert believes that it will take time for AI-related spending to impact company revenues. He explains, "Where we think the longer-term element of AI is gonna come into play is it's gonna be in many cases almost imperceptible. It's gonna be under the surface in productivity improvement, improved profitability, and therefore valuations across a much broader swath of companies." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith US housing and PMI data, AMC Q2 forecast: Catalysts Today's episode of Catalysts, co-hosts by Seana Smith and Madison Mills, focuses on economic data, earnings reports, and the political landscape. The show kicks off with a look at fresh economic data, including US new home sales and the S&P Global Purchasing Managers' Index (PMI). Mills and Smith discuss these reports and their implications for the broader state of the economy. Earnings are in the spotlight as Alphabet (GOOG, GOOGL) and Tesla (TSLA) reported second-quarter results, the latter of which disappointed investors. AMC (AMC) released preliminary second-quarter forecasts anticipating approximately $32.8 million in losses during the quarter. In political news, Vice President Kamala Harris held a campaign rally in Wisconsin on Tuesday, following President Biden's decision to step down from his reelection bid. Harris saw significant support, raising approximately $126 in funding since. This post was written by Angel Smith 2 reasons why small caps are outperforming Big Tech Small caps outperformed Big Tech in the last month as the Russell 2000 (^RUT) rose over 10%. Portfolio Wealth Advisors president & CIO Lee Munson joins Wealth! to break down the movement and the disappointment in Big Tech earnings. Munson points to two reasons behind the recent growth of small caps. First, he explains that small caps generally perform well at the beginning of an expansionary cycle as opposed to a late cycle. "I think what people have to remember is that we have this presumption that we're going to start slowing down. We have this presumption that the Fed is going to have to cut rates. Why are they going to have to cut rates? Because we don't want to cause a recession. So the market's looking 6 to 12 months out from today... And so people are starting to load up on what they think is going to be this huge expansion going into next year, and the election and the presidential candidates have a lot to do with that," he says. The second reason boils down to the short-term prospects of AI: "People are starting to get the message that while I love ChatGPT, I'm on every single moment of my life, but it's going to take time to really make the killer app. The thing that's going to cause Apple (AAPL) to have to sell a whole new line of stuff that's going to cause Microsoft (MSFT) to have this whole new software to sell people, and that it's not going to happen in the next six months. And so people are starting looking at profitability, they're starting to question it." As second quarter Big Tech earnings roll in, investors have been largely disappointed. Munson explains that investors want to see immediate returns on these companies' capital investments, which poses an issue as the AI trade takes longer to materialize. He believes there isn't a sell-off of Big Tech, but rather, there is more of a "buyer strike." With the Federal Reserve eyeing a September interest rate cut, he believes that small-cap stocks and "all the other stocks that are not Mag Seven" are poised to benefit as their debt loads will decrease. Be sure to check out Lee Munson's interview with Jared Blikre on Stocks in Translation here. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl Why betting on the Trump trade is a real mistake Stay focused on being a disciplined trader, not chasing political headlines, says one big name in the markets. Ford or Tesla, consumer staples opportunities: Market Domination US stocks (^DJI, ^IXIC, ^GSPC) are looking ahead to the closing bell when Google parent Alphabet (GOOG, GOOGL) and Tesla (TSLA) are due to report second quarter earnings. Julie Hyman and Josh Lipton talk the biggest stock market stories and receive expert opinions from Wall Street analysts in the last trading hour, all part of today's Market Domination episode. As part of the Good Buy or Goodbye series, Barron's associate editor Al Root explains why he is bullish on Ford's (F) vehicle sales while expressing his hesitance to invest in Tesla (TSLA) due to its high valuations. Gradient Investments portfolio manager Keith Gangl is also welcomed onto the program to discuss where he is seeing investment opportunities among consumer staple and retail stocks despite the US consumer exhibiting weaknesses. Other top trending tickers on the Yahoo Finance platform include Lockheed Martin (LMT), Kimberly-Clark Corporation (KMB), and Southwest Airlines (LUV). This post was written by Luke Carberry Mogan. Dow Jones Futures: S&P 500, Nasdaq Break Key Level As Tesla, Google Sell Off; Inflation Data Due The Nasdaq and S&P 500 fell below their 50-day lines as Tesla, Google led a stock market sell-off. Inflation data looms. 'Fear gauge' hits three-month high as US stocks sell off NEW YORK (Reuters) -A hefty U.S. stocks sell-off sent Wall Street's most watched gauge of market volatility to a three-month high and boosted options trading volume on Wednesday, though strategists saw little evidence of panic. The S&P 500 slipped 2.3%, on pace for its worst daily loss since late 2022, after Tesla and Alphabet reported lackluster earnings, prompting investors to question if the 2024 rally fueled by Big Tech and artificial intelligence is sustainable. As stocks tumbled, the Cboe Volatility Index - known as Wall Street's fear gauge because it measures demand for protection against stock swings - shot to 18.46, the highest since late April. Chipotle’s Chicken Offer, Quick Service Bring More Diners In (Bloomberg) -- Chipotle Mexican Grill Inc.’s limited-time offers and speedy service helped the burrito seller bring in more customers in the second quarter, defying a broad-based demand pullback in the restaurant industry.Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.What Initial Polling Data Show About the Trump-Harris MatchupStocks Tumble as Wall Street Gets AI Wake-Up Call: Markets WrapHarris Targets Trump by Raising How major US stock indexes fared Wednesday, 7/24/2024 U.S. stock indexes dropped to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street's frenzy around artificial-intelligence technology. The S&P 500 tumbled 2.3% Wednesday. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite skidded 3.6%. AI Fever Cools, Sending Nasdaq 100 Into $1 Trillion Tailspin (Bloomberg) -- Investors soured on the promise of artificial intelligence Wednesday, sparking a $1 trillion rout in the Nasdaq 100 Index as questions swirled over just how long it will take for the substantial investments in the technology to pay off.Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.What Initial Polling Data Show About the Trump-Harris MatchupStocks Tumble as Wall Street Gets AI Wake-Up Call: Markets WrapHar Dow Jones Plunges 500 Points; Nasdaq Routed 3.6% As Tesla, Google Sell Off (Live Coverage) The major indexes sold off hard on Wednesday with the Nasdaq the biggest loser. A solar stock bucked the trend and popped. S&P 500 Snaps Longest Streak Without a 2% Decline Since 2007 (Bloomberg) -- A steep selloff in high-flying technology stocks sent the S&P 500 Index to its worst day since December 2022, ending its best stretch without a 2% decline since the start of the global financial crisis in 2007. Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.What Initial Polling Data Show About the Trump-Harris MatchupStocks Tumble as Wall Street Gets AI Wake-Up Call: Markets WrapHarris Targets Trump by Rais Nasdaq Has Worst Day Since 2022. Mag 7 Does a Faceplant. Tech stocks took it on the chin as investors faced a reality check on their artificial intelligence bets after tech earnings. The tech-heavy Nasdaq Composite fell 3.6%, marking its worst one-day loss since October 2022, according to Dow Jones Market Data. The ETF had run up over 35% until June while the overall tech sector, as measured by Nasdaq, had marked 27 record highs. Tesla, Alphabet Sell-Offs Weigh on Nasdaq, S&P 500 Tesla, Alphabet Sell-Offs Weigh on Nasdaq, S&P 500 Nasdaq Losses Steepening Before the Close Shares of EV maker Tesla are currently the worst performer in the Nasdaq 100. Advertising technology company Trade Desk comes in a close second. Three-fourths of all tech stocks in the Nasdaq 100 were down, too, on the sour sentiment. Why Magnificent Seven Stocks are Having Their Worst Day on Record The Magnificent Seven tumbled on Wednesday after earnings reports from Tesla and Alphabet raised concerns about slowing earnings growth at America's tech titans. Nobel Laureate on Musk, new home sales fall short: Wealth! Tesla's (TSLA) stock is sliding after posting mixed second-quarter results and CEO Elon Musk touted affordable EV models were on their way for 2025 in the earnings call on Tuesday. US new home sales fell short of economist expectations for June, revealing a 0.6% decline instead of the anticipated 3.4% increase. This downturn highlights the ongoing challenges in the housing market, where potential homebuyers continue to grapple with high mortgage rates, affordability issues, and limited inventory. Small caps outperformed Big Tech in the last month as the Russell 2000 (^RUT) rose over 10%. Portfolio Wealth Advisors president and CIO Lee Munson joined the show to break down the movements and the disappointment in Big Tech earnings. Google (GOOG, GOOGL) has backtracked on its pledge to eliminate third-party cookies on its Chrome browser after receiving pushback from advertisers. Microsoft (MSFT) released a new Surface laptop powered by Qualcomm's (QCOM) new AI chip. The laptop allows users to interface with new AI features that can help with a myriad of needs. Yahoo Finance tech editor Dan Howley joined Wealth! to give insights into Microsoft's fresh line of AI laptops and what it has to offer. Spot ether ETFs, based on ethereum (ETH-USD), launched Tuesday, attracting over $1 billion in inflows on their debut day. ETF Expert Dave Nadig joined Wealth! to discuss the key differences between the ETF and the actual cryptocurrency. Tesla CEO Elon Musk has voiced his support for former President Donald Trump, who on the campaign trail has made comments about rolling back tax credit incentives and policies for electric vehicles. New York Times Opinion Columnist and Nobel Laureate Paul Krugman joined Wealth! to give insight into Musk, his leadership, his support of Trump, the current political landscape. For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino Why Lamb Weston Stock Tanked Today Profits are dropping as sales stall. Nasdaq and S&P 500 track for worst day since 2022 after Alphabet and Tesla fail to impress Wall Street Tech shares led a selloff Wednesday after lackluster earnings reports from two of the market’s most prominent heavyweights. Tesla, Alphabet Sell-Off Weighs on Nasdaq Intraday Tesla, Alphabet Sell-Off Weighs on Nasdaq Intraday