"The markets are attempting to shake off the doldrums with a push toward gains out of the gate this morning. All three of the major stock market averages are seeing green for a change, including a nearly 1% increase in the Nasdaq Composite. Chip stocks Advanced Micro Devices ( Nasdaq: AMD), Intel ( Nasdaq; INTC) and Nvidia ( Nasdaq; NVDA) can take a bow for boosting sentiment in not only the tech sector but the broader markets."
"In the latest signal from the Labor Department, U.S. jobless claims came in lower than expected last week. Just under 200,000 Americans filing for unemployment benefits compared with forecasts calling for roughly 215,000, a sign the labor market remains tighter than economists anticipated. Financial institutions continue to unveil their quarterly results. Goldman Sachs ( NYSE: GS) surpassed profit expectations on strong equities trading while revenues took a hit, owing to the divestiture of Apple ( Nasdaq; AAPL) Card loans to JPMorgan ( NYSE: JPM)."
U.S. markets opened higher with the Dow, Nasdaq and S&P 500 posting gains as chip stocks led the advance following Taiwan Semiconductor's stronger-than-expected quarterly results. Advanced Micro Devices, Intel and Nvidia helped lift broader market sentiment. Initial jobless claims fell below forecasts to just under 200,000, signaling a tighter labor market. Banks reported quarterly results with Goldman Sachs exceeding profit expectations on strong equities trading while revenues were affected by the divestiture of Apple Card loans to JPMorgan. Bitmine announced a $200 million investment into MrBeast's Beast Industries, potentially advancing decentralized finance initiatives.
Read at 24/7 Wall St.
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