"The markets are continuing their trend of one step forward, two steps back. Today stocks are under pressure on the heels of an ADP jobs report in which private sector jobs alarmingly fell by 32,000 last month, inserting greater uncertainty into the health of the labor market. The Nasdaq Composite is giving up ground, pressured by Big Tech stock Microsoft ( Nasdaq: MSFT), which is tumbling on reports of lowered AI software sales expectations in response to consumer preferences."
"Elsewhere, Marvell Technology ( Nasdaq: MRVL) is rising by 7.7% today in response to plans to scoop up Celestial AI in multi-billion-dollar transaction, bolstering its AI prowess. Here's a look at where things stand as of morning trading: Dow Jones Industrial Average: 47,526.96 Up 50.50 (+0.11%) Nasdaq Composite: 23,315.12 Down 102.00 (-0.44%) S&P 500: 6,822.59 Down 6.78 (-0.06%) Market Movers Bank of America has turned increasingly bullish on Amazon ( Nasdaq: AMZN), a trend that is gaining momentum on Wall Street of late."
Markets showed continued volatility as a recent ADP report revealed a 32,000 decline in private-sector jobs, raising questions about labor-market strength. The Nasdaq retreated amid weakness in Microsoft driven by reports of lowered AI software sales expectations tied to consumer preferences. Marvell Technology rallied 7.7% on plans to acquire Celestial AI, enhancing its AI capabilities. Morning indexes were mixed, with the Dow slightly higher and the S&P 500 and Nasdaq down. Bank of America raised its Amazon price target to $303. CrowdStrike, Macy’s, and Dollar Tree moved notably on earnings and outlooks.
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