Markets Update:

  • Major tech companies drive stock market growth; Tesla (TSLA) surges by 10%.
  • Morgan Stanley predicts Tesla’s Dojo supercomputer could add $500 billion to its value.
  • Dollar’s strong run wanes as China and Japan increase defenses.
  • Stocks ascend with S&P 500 nearing 4,500 and the Nasdaq 100 increasing by 1.2%.
  • Apple (AAPL) extends its deal with Qualcomm (QCOM), and Charter Communications (CHTR) resolves blackout issues with Walt Disney (DIS).
  • Bitcoin is near $25,000 and might encounter a “death cross” pattern.
  • US consumers’ inflation outlook remains mainly steady in August; however, job market pessimism increases.
  • Asian central banks react to the dollar’s rally, causing fluctuations in the yuan and yen.
  • The US bond market sees various yields; oil remains steady after recent increases.

Stock Market Insights:

  • Short sellers profit by targeting small-cap stocks.
  • Bank of America (BAC) suggests potential changes in stock market trends, favoring value and small-capitalization stocks.

Corporate Highlights:

  • JetBlue (JBLU) looks to reduce antitrust concerns in Spirit Airlines (SAVE) acquisition.
  • Citizens Financial Group (CFG) focuses on avoiding deals that lead to losses.
  • Truist Financial (TFC) plans for significant job cuts in cost-cutting efforts.
  • M. Smucker (SJM) agrees to acquire Hostess Brands (TWNK).
  • RTX Corp (RTX) adjusts its sales outlook due to engine checks at Pratt & Whitney.
  • Lockheed Martin (LMT) faces payment delays pending software approval.
  • Arm Holdings Ltd.’s IPO witnesses significant demand.
  • Instacart prepares for an IPO, aiming for a value up to $9.3 billion.

Market Moves:

  • S&P 500, Nasdaq 100, and Dow Jones all see increases.
  • Bloomberg Dollar Spot Index drops by 0.7%.
  • Bitcoin decreases to $25,017.47, and Ether drops to $1,539.3.
  • 10-year Treasuries yield rises, with Germany and Britain also seeing advances.
  • West Texas Intermediate crude drops slightly, while gold futures increase.

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Markets Update:

Editor Prism MarketView