economy
Wednesday's big stock stories: What’s likely to move the market in the next trading session
Uncertainty around Iran and a decline in tech stocks pulled the S&P 500 down on Tuesday. Tune into CNBC on Wednesday for CoreWeave CEO Michael Intrator.
TL;DR
- July's consumer price index (CPI) data is expected to show a 0.1% month-over-month increase in headline CPI and a 0.2% increase in core CPI.
- Jim Cramer indicates that rising long-term interest rates, at a 19-year high for the 30-year Treasury yield, suggest potential further tightening by the Federal Reserve.
- Financials and healthcare sectors have performed well, with S&P Financials up 13% and healthcare up 17.5% in the past three months.
- JPMorgan and Bank of America have hit all-time highs, indicating strong performance in the banking sector.
- Several companies in the footwear industry, including Nike, On Holding, Birkenstock, Deckers, and Dick's Sporting Goods, have seen significant declines from their highs, while Steven Madden is showing positive movement.
- AI cloud provider CoreWeave reported strong earnings and guidance, with shares up 14% in extended trading.
- Airbnb stock is trading at levels not seen in over four years, showing a 22% increase in August and nearly 55% in six months.