Wall Street Edges Higher as Nvidia, Micron Rally; Earnings Season Looms
US stocks posted modest gains Friday with Nvidia up 1.4% and Micron up 1.7%, while Tutor Perini crashed 81% and Apple slid 2.6% ahead of bank earnings.
US stocks posted modest gains Friday with Nvidia up 1.4% and Micron up 1.7%, while Tutor Perini crashed 81% and Apple slid 2.6% ahead of bank earnings.
With T-bills above 4%, mortgage rates near 7.5% and auto loans over 7%, rising interest rates are reshaping household budgets, savings and government debt costs.
The S&P 500 is up 117% since October 2022, but the equal-weighted index has trailed by 52 percentage points, the widest gap in decades, raising concentration risk.
Spot gold rose 1.4% to $4,189.99 an ounce as cooling oil prices and a weaker dollar fuel bets on a Fed rate pause, with platinum and palladium up over 3%.
Trump rules out military action against Iran before November 3 midterms as oil prices top $100 a barrel and gas costs rise over $1 a gallon since the conflict began.
Amazon, Tesla, Nvidia and chipmakers fall as Brent crude jumps 4.2% and Treasury yields climb to levels unseen since 2002, reviving inflation fears before earnings season.
President Trump criticized the Federal Reserve over elevated mortgage rates, while Treasury Secretary Bessent pointed to an energy shock from the Iran conflict as the real driver of inflation.
New York Fed research finds tariffs added up to 2.9 percentage points to US goods inflation, with prices otherwise set to fall through early 2026.
A new DIGITIMES Intelligence report flags 800VDC architecture as the next battleground for AI data centers, with GaN and SiC semiconductors positioned to capture the power-delivery upgrade cycle.
Russia offers mediation as Iran-Saudi fighting over Mocha port continues and Rubio claims Iran lost control of the Strait of Hormuz. Gold slips to $4,123.91/oz.