The AI frenzy is still in full swing. Advanced Micro Devices Inc. (NASDAQ:AMD) surged over 11%, while Micron Technology Inc. (NASDAQ:MU) gained around 6% on Wednesday.
Meanwhile, the Fed minutes released on Wednesdays showed that President Donald Trump‘s trade tariffs continue to weigh on the outlook for growth and inflation, raising concerns over how long the Federal Reserve can stick with its planned cycle of interest rate cuts.
Additionally, Trump announced on Wednesday that both Israel and Hamas have agreed to the initial phase of a peace plan.
The 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.59%. The CME Group's FedWatch tool‘s projections show markets pricing a 94.6% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
-0.02%
S&P 500
-0.07%
Nasdaq 100
-0.13%
Russell 2000
-0.32%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. The SPY was down 0.040% at $673.11, while the QQQ declined 0.10% to $610.82, according to Benzinga Pro data.
Stocks In Focus
PepsiCo
PepsiCo Inc. (NASDAQ:PEP) was up 0.27% in premarket on Thursday, ahead of its earnings scheduled to be released before the opening bell. Analysts expect earnings of $2.26 per share on revenue of $23.83 billion.
PEP maintained a weaker price trend over the short, medium, and long terms, with a poor quality ranking, as per Benzinga’s Edge Stock Rankings. Additional performance details are available here.
Turn Therapeutics
Turn Therapeutics Inc. (NASDAQ:TTRX) surged 271.43% after the clinical-stage biotechnology company commenced trading on the Nasdaq Capital Market on Wednesday.
Benzinga’s Edge Stock Rankings indicate that TTRX had a stronger price trend. Additional ...
