Leading the charge on Monday, Oracle Corp. (NYSE:ORCL) shares jumped more than 5%, while Nvidia Corp. (NASDAQ:NVDA) gained almost 3%. Broadcom Inc. (NASDAQ:AVGO) soared around 10% after OpenAI pledged a $500-billion investment to co-develop 10 gigawatts of custom AI accelerators with the chipmaker.
Treasury Secretary Scott Bessent said that the ongoing government shutdown has started to affect the real economy and accused the mainstream media of “downplaying the shutdown” to “avoid embarrassing Democrats,” further exacerbating the public’s understanding of the situation’s severity.
Meanwhile, the 10-year Treasury bond yielded 4.01% and the two-year bond was at 3.47%. The CME Group's FedWatch tool’s projections show markets pricing a 97.8% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
-0.41%
S&P 500
-0.72%
Nasdaq 100
-0.95%
Russell 2000
-0.72%
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 Tuesday. The SPY was down 0.67% at $658.65, while the QQQ declined 0.90% to $596.62, according to Benzinga Pro data.
Stocks In Focus
Goldman Sachs Group
Goldman Sachs Group Inc. (NYSE:GS) fell 0.61%, ahead of its earnings before the opening bell. Analysts estimate earnings of $11.00 per share on revenue of $14.10 billion.
GS maintained a stronger price trend over the short, medium, and long terms, with a moderate quality ranking, as per Benzinga’s Edge Stock Rankings. Additional performance details are available here.
JPMorgan Chase
JPMorgan Chase & Co. (NYSE:JPM) was up 0.50% as analysts estimate earnings of $4.84 per share on revenue of $45.39 billion before the opening bell.
Benzinga’s Edge Stock Rankings indicate that JPM had a stronger price trend in the short, medium, and ...
