economy
Red-hot Arm Holdings soars to another all-time high. What's fueling the move this time?
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- S&P 500 and Nasdaq hit all-time highs, boosted by U.S.-Iran de-escalation news.
- Arm Holdings shares soared over 13.5%, extending its significant year-to-date gains.
- Arm's rally is fueled by excitement over AI demand, analyst price target increases, and its licensing deals, particularly with Amazon's Graviton CPUs.
- Microsoft gained over 3.5% ahead of its Build developer conference and new coding model announcement.
- Cybersecurity stocks CrowdStrike and Palo Alto Networks recovered from previous declines.
- Upcoming earnings reports include Costco, American Eagle, Gap, Dell, Okta, and SentinelOne.
- Economic data includes the Census Bureau's Monthly wholesale trade survey.