"Markets are licking their wounds after yesterday's circus in which roughly $1 trillion in market capitalization disappeared from stocks. After a reversal of fortunes that left investors scratching their heads, today is a new day and market bulls are seeking payback. The Nasdaq Composite is moving cautiously higher alongside the Dow Jones Industrial Average and S&P 500 after New York Fed official John Williams inserted a sliver of hope for another interest rate cut sooner than later."
"Among today's gainers, Intuit ( Nasdaq: INTU) is tacking on 6.5% after reporting its Q1 results and maintaining its full-year guidance. Intuit appears to be operating on all cylinders, with a view toward double-digit revenue growth and margin expansion. After integrating AI into its solutions, Intuit is seeing the results in the form of demand from businesses. The company also inked an Olympics tie-up with Team USA of the LA28 games."
Markets partially recovered after a prior-day decline that erased roughly $1 trillion in market capitalization, with the Dow, Nasdaq, and S&P 500 trading modestly higher. New York Fed official John Williams suggested a greater chance of another interest rate cut sooner, supporting some risk-on sentiment. Nvidia remained down about 1% while Alphabet rose 3.6%, reflecting uneven technology appetite. Intuit jumped 6.5% after reporting Q1 results and maintaining full-year guidance, citing AI-driven demand and an Olympics partnership. Ross Stores climbed 4.7% after a Q3 beat, and Builders FirstSource gained 3.5% on housing market opportunities.
Read at 24/7 Wall St.
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