By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Nancy Pelosi Reveals Top Dem She Thinks Will Run in 2028
    Nancy Pelosi Reveals Top Dem She Thinks Will Run in 2028
    May 24, 2025
    Must-see: CNA’s 3-part series inside the drug trade, on the frontline of a global war
    Must-see: CNA’s 3-part series inside the drug trade, on the frontline of a global war
    May 24, 2025
    Kim Kardashian’s robbers found guilty in Paris
    Kim Kardashian’s robbers found guilty in Paris
    May 24, 2025
    Mum of emaciated baby in Gaza says ‘I lost my husband… I don’t want to lose her’ | World News
    Mum of emaciated baby in Gaza says ‘I lost my husband… I don’t want to lose her’ | World News
    May 24, 2025
    The President’s Daily Brief: No Assembly Required?
    The President’s Daily Brief: No Assembly Required?
    May 23, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
    BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
    May 24, 2025
    Will Bitcoin bulls secure 0K before BTC’s .8B options expiry?
    Will Bitcoin bulls secure $110K before BTC’s $13.8B options expiry?
    May 24, 2025
    Solana ‘will make everyone an investor’ — Solana nCMO
    Solana ‘will make everyone an investor’ — Solana nCMO
    May 24, 2025
    Texas governor signals support for Bitcoin reserve bill
    Texas governor signals support for Bitcoin reserve bill
    May 24, 2025
    BTC slips to 9k after trump threatens 50% tariffs on eu
    BTC slips to $109k after trump threatens 50% tariffs on eu
    May 24, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Stock market news today: Stocks set for bounce back after 3-day rout as tech leads gains
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Stock market news today: Stocks set for bounce back after 3-day rout as tech leads gains
Stock market news today: Stocks set for bounce back after 3-day rout as tech leads gains
Business

Stock market news today: Stocks set for bounce back after 3-day rout as tech leads gains

Published August 6, 2024
Share
7 Min Read
SHARE

Contents
Turnaround Tuesday? Stocks open higher after massive sell-offThe aftermath from Monday’s routGoogle ruling aftermath

US stocks eyed a rebound on Tuesday following a three-day rout that wiped a healthy chunk of 2024’s market gains. The tech-heavy Nasdaq Composite (^IXIC) led the day’s gains, opening around 0.6% higher. The benchmark S&P 500 (^GSPC) followed suit, inching up about 0.5% while the Dow Jones Industrial Average (^DJI) hugged the flatline.

Stocks got crushed on Monday, part of a two-day tailspin on Wall Street that served as a boisterous reaction to fresh concern over the health of the US economy and its labor market. The S&P 500 had its worst day since 2022 and capped its worst start to any month since 2002.

The benchmark has shed around 6% in the past three sessions, bringing year-to-date gains back to around 9%.

But early market signs point to a recovery. Wall Street’s “fear gauge” — the CBOE Volatility Index (^VIX) — touched its highest level since the early days of the COVID-19 pandemic on Monday. On Tuesday, it fell back to earth, to levels seen often in 2022.

Some of the market’s biggest names also were aiming for a rejuvenation. The “Magnificent 7” stocks lost more than $650 billion in market cap on Monday. On Tuesday, that looked set to change. Nvidia (NVDA), which led the way down, rose over 3% before the market open. Tesla (TSLA), Microsoft (MSFT), and Meta (META) all rose more than 1%.

Cryptocurrencies, which weren’t spared from the rout, also rose in tandem with the optimism. Bitcoin (BTC-USD) was up 7%, rising back above the $55,000 level. Meanwhile, the global sell-off also steadied: Japan’s Nikkei (^N225) index closed up over 10%.

The coming days — and weeks — will provide key signals for what comes next. As Yahoo Finance’s Myles Udland writes, stocks still have the same problem waking up Tuesday that they did Monday: the Federal Reserve. The Fed has come under mounting pressure to act, as around three-quarters of traders now expect a 50-basis-point rate cut at its next meeting.

Live3 updates

  • Tue, August 6, 2024 at 4:33 PM GMT+3

    Turnaround Tuesday? Stocks open higher after massive sell-off

    US stocks are eyeing a comeback with all three major indexes opening in the green Tuesday. The moves follow a steep three-day rout that eliminated a significant portion of year-to-date market gains.

    The tech-heavy Nasdaq Composite (^IXIC) and benchmark S&P 500 (^GSPC) led the day’s gains, opening about 0.6% and 0.5% higher, respectively. The Dow Jones Industrial Average (^DJI) traded just above the flatline.

    In other positive market signs, Wall Street’s “fear gauge” — the CBOE Volatility Index (^VIX) — fell back to levels seen often in 2022 after it touched its highest level since the early days of the COVID-19 pandemic on Monday.

  • Tue, August 6, 2024 at 1:20 PM GMT+3

    The aftermath from Monday’s rout

    The mindset of Wall Street generally cracks me up.

    On Monday as the market was melting down, pundits were all but predicting a fourth quarter recession and the onset of a bear market. Today, I awake to read many of these same pundits talking about calm returning to markets!

    The reality is that when the Dow drops more than 1,000 points in a single session (as it did on Monday, in case you forgot already) it suggests broken confidence. And that confidence isn’t repaired overnight — it takes time and wild short-term swings in stocks. So be patient here and question anyone saying the coast is clear.

    To that end, I liked what the JP Morgan team put out this morning in terms of a guide for assessing a potential market bottom:

    “We currently don’t have the full set of ingredients of a market bottom, such as the slope of the 20-day moving average flattening, market breadth hitting and bouncing off lows, positioning and sentiment washout, convincing highs in the put/call ratio, coming out of VIX inversion, etc. There is good reason to worry about this correction, as unemployment bottoming off cycle lows has historically led to recession, while the previous market assumption was that the unemployment rate uptick reflected labor supply normalization. In equities, we see the position-heavy reversal of momentum trades and defensive leadership signaling worries about growth risk.”

  • Tue, August 6, 2024 at 1:10 PM GMT+3

    Google ruling aftermath

    Alphabet (GOOGL) shares are hanging in there after a legal blow late Monday.

    A judge found the company’s search and ad businesses violated antitrust law. More analysis from Yahoo Finance’s Alexis Keenan and Dan Howley here.

    Wall Street mostly appears to be taking the news in stride — no downgrades or estimate cuts this morning.

    But, I do think RBC analyst Brad Erickson brings up key points for those longer-term investors in the stock:

    “Whatever multiple an investor was thought to be paying for the search business, we’d think that value would likely have to be discounted by some amount given the implications of today’s announcement. We’ve been saying for some time that with all of the AI chatbot competitors out there, what really mattered for the GOOGL bear case was the distribution of its search engine as opposed to debating which bot was better. In this case, while it’s presumable/possible that the company could lose a few points of share over the next few years to the degree that the DOJ successfully removes GOOGL’s default status, we’d think it’s very unlikely that a more material portion of searches move away from Google given users’ familiarity and overall Google ecosystem halo. With that said, Apple’s unveiling of ChatGPT as an initial preferred partner for iOS 18 technically implied a slightly shrinking moat for GOOGL where today’s news could be looked at in the same vein (Apple’s hedge now looks rather prescient).”

#Stock #market #news #today #Stocks #set #bounce #3day #rout #tech #leads #gains

TAGGED:3dayBounceCboe Volatility Indexgainslabor marketleadsmarketmarket gainsNASDAQ CompositeNewsroutsetStockStocksTechtodayworst day
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Ronin suffers .8 million exploit, pauses bridge Ronin suffers $9.8 million exploit, pauses bridge
Next Article 32oz Stainless Steel Tumblers : Carter Carry XL Tumbler 32oz Stainless Steel Tumblers : Carter Carry XL Tumbler
- Advertisement -

Latest Post

BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
Cryptocurrency
Nancy Pelosi Reveals Top Dem She Thinks Will Run in 2028
Nancy Pelosi Reveals Top Dem She Thinks Will Run in 2028
World News
Will Bitcoin bulls secure 0K before BTC’s .8B options expiry?
Will Bitcoin bulls secure $110K before BTC’s $13.8B options expiry?
Cryptocurrency
Solana ‘will make everyone an investor’ — Solana nCMO
Solana ‘will make everyone an investor’ — Solana nCMO
Cryptocurrency
Texas governor signals support for Bitcoin reserve bill
Texas governor signals support for Bitcoin reserve bill
Cryptocurrency
Must-see: CNA’s 3-part series inside the drug trade, on the frontline of a global war
Must-see: CNA’s 3-part series inside the drug trade, on the frontline of a global war
World News
- Advertisement -

You Might Also Like

Meteorite impacts identified as driver of moon’s tenuous atmosphere
Business

Meteorite impacts identified as driver of moon’s tenuous atmosphere

August 4, 2024
‘They’ve just killed innocent people’: Anger in Lebanon after Israeli strike – as teddy bears and children’s shoes among rubble | World News
World News

‘They’ve just killed innocent people’: Anger in Lebanon after Israeli strike – as teddy bears and children’s shoes among rubble | World News

August 18, 2024
Japan pay data, Australia trade, Singapore retail sales
World News

Japan pay data, Australia trade, Singapore retail sales

September 5, 2024
Biden welcomes Japan and South Korea leaders to Camp David summit
Business

Biden welcomes Japan and South Korea leaders to Camp David summit

August 18, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?