Stocks soar while the auto sector slides: Yahoo Finance
The Dow Jones Industrial (^DJI) jumped more than 500 points with the Nasdaq Composite Index (^IXIC) following behind, rising 0.9%, recovering from one of its worst trading days since 2022. The Russell 2000 (^RUT) has also climbed over 2.5% as markets continue to rotate out of big tech. Some of the gains can be attributed to IBM’s (IBM) jump of over 6% since the trading day began. The autos sector, however, is taking a hit following quarterly reports from Ford (F) and Stellantis (STLA), which both posted weaker-than-expected results. Stellantis reported first-half net profit of $6.07 billion, down 48% from the same period last year. Sales of Ford's model E also took a hit as sales of EVs remain under pressure. Looking ahead, investors patiently await earnings reports from Sketchers (SKX) and Deckers (DECK) for more insight on the retail sector and the state of the consumer.Trending Tickers on Yahoo Finance include Ford (F), Nvidia (NVDA), and ServiceNow (NOW)Top guests today include:3:05 PM: Savita Subramanian, BofA Securities Head of U.S. Equity Strategy & U.S. Quantitative Strategy3:15 PM: Naftali Holtz, Royal Caribbean Group CFO4:00 PM: David Sekera, Morningstar Chief U.S. Market Strategist4:10 PM: Bob Clark, ClayCo Founder & Executive Chairman
