Market Domination Hosts Julie Hyman and Josh Lipton guided investors through the final trading hour of Thursday, June 20, covering the trending stocks and market movements. One highlight was Hewlett Packard Enterprise (HPE) CEO Antonio Neri discussing their new partnership with Nvidia (NVDA) for “Nvidia AI Computing by HPE” product offerings. National Association of Home Builders (NAHB) CEO Jim Tobin also stopped by to address challenges in the US housing market.
Yahoo Finance’s top trending stocks for the hour included Gilead Sciences (GILD), Nikola (NKLA), and Advanced Micro Devices (AMD). Luke Carberry Mogan provided the post’s content in a video format.
The global rate cutting cycle is already in progress, with 20 out of 37 central banks having already implemented rate cuts. The Fed is expected to join the cut with a 67% chance of a cut at the September meeting. Mortgage rates are currently low but may continue to rise. Market movements showed a mixed picture with the Dow up nearly 1%, the S&P 500 down 0.2%, and the Nasdaq down 0.9%. Jobless and housing start data were in line, with yields climbing slightly.
Large-cap tech stocks, particularly NVIDIA, Apple, and Microsoft, experienced selling pressure leading to a decline in the XLK tech index. Energy and oil prices were up, with utilities also performing well. Market volatility was anticipated with the expiration of futures and options contracts.
Dan Skelly, Managing Director at Morgan Stanley Wealth Management, discussed the impact of the Fed’s rate policy on economic divergence between different corporate and consumer cohorts. He suggested focusing on data and details to make informed investment decisions.
Antonio Neri, CEO of Hewlett Packard Enterprise, shared details of their partnership with NVIDIA in the A I computing space. The partnership aims to accelerate adoption in enterprises and simplify A I solutions for customers.
Analysis from Tomas at Thayer Ventures highlighted Microsoft’s strength in the A I space and potential for growth. He expressed confidence in Microsoft’s position compared to competitors like NVIDIA and the software-centered approach for valuation.
Piper Sandler named AMD as its top large-cap pick due to growth prospects in digital advertising and the shift towards connected TV. Scott Devitt from Wedbush Securities initiated coverage on the trade desk with an outperform rating, emphasizing top-line growth potential in digital advertising.
Jim Tobin, CEO of the National Association of Home Builders, discussed the impact of mortgage rates on housing demand and supply. He highlighted regulatory challenges, labor constraints, and the need for immigration reform to address labor shortages in the construction industry. Tobin also mentioned innovation in panelization and building practices to improve efficiency in construction processes.
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https://finance.yahoo.com/video/housing-trends-hpe-ceo-nvidia-213557064.html