00:00 Josh
Yahoo Finance’s Brooke DiPalma joins us now with the latest market action. Brooke.
00:04 Brooke DiPalma
Good afternoon, Josh. We’re seeing all three major indices close now with a bit of a mixed picture. We do have the Dow uh moving higher, but the Nasdaq and the S&P 500 falling, especially after a few moments ago, we did see President Trump take to take to Truth Social to share this. He said on Truth Social that he believes China purposefully is not buying our soy beans and causing difficulty for our soy being farmers is an economically hostile act. Now he went on to say that as an example, we can easily produce cooking oil ourselves so we do not need to purchase it from China. And based upon that Truth Social, in the last few minutes of trading, the today’s trading session, we did see that flip in reversal when it comes to the Nasdaq. As you can see right here, the Nasdaq was also moving lower but the S&P 500, specifically, you can see right here towards the close, we did see that reversal from uh the momentum that we were gaining in the middle of the day after Jerome Powell had spoke around noon. Now, in Jerome Powell’s comment,
00:54 Brooke DiPalma
he indicated that the Federal Reserve will focus on inflation and employment. He did say some deterioration within employment is extending. And so we saw that reversal within uh the S&P 500 around noon, tick to the upside. And then based upon that Truth Social tweet, or rather post, we did see that reversal. And so now we have the S&P 500, that indice index move uh lower down nearly 2/10th of a percent at the close. We also have the Nasdaq that uh index really just did not flip to the upside today at all. It’s now closing down nearly 8/10th of a percent, but the Dow was able to reverse and hold on to some momentum, once again, flipping around noon and now closing higher up about 4/10th of a percent. But I do want to take a closer look because what we are seeing here is a bit of a mixed picture when it comes to semiconductor stocks. We have AMD, that stock moved higher and it now closed up about 8/10th of a percent based upon this deal that Oracle is going to invest and buy uh AI chips from AMD. That stock holding on to momentum in the close. Meanwhile, Broadcom, really pairing back the gains that it’s got on Monday after it announced a deal with OpenAI. That stock now down at the close, down about 3 and 1/2%.
01:53 Brooke DiPalma
And Nvidia, this stock just was not able to hold on to the momentum that it had earlier on Monday and it did stay, you know, mostly in the red today and did close lower down about 4.4% at the close. But what I find really interesting here is if you take a look at transport stocks, it’s a different picture here, different market that we’re looking at here. Because United, well that company is expected to report earnings after market close on Wednesday and it was able to move higher up about 4% ahead of that. and that’s after Delta really reported a strong report last week. That stock up more than 8% over the past five days. Taking a look though at the broader picture here, the Nasdaq,
02:29 Brooke DiPalma
mostly a bit of a mixed picture with Nvidia, Microsoft, Amazon, and Meta down today. Apple and Google moving higher. So once again, taking a step back, bit of a mixed picture here with the Dow able to hold on to the momentum, but the Nasdaq and S&P 500 moving lower at the close.
