S&P 500, Nasdaq rise slightly as inflation report approaches

Live2 updates

• Tue, Sep 10, 2024 at 6:35am MST

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  Stocks open mixed ahead of inflation report

  U.S. stock markets opened mixed on Tuesday as investors awaited a crucial report on consumer inflation that will determine the future of the Federal Reserve’s policy.

  The benchmark S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) rose about 0.4% and 0.7%, respectively, while the Dow Jones Industrial Average (^DJI) fell about 0.2%.

  The moves follow Monday’s strong rally, which saw key indicators rise more than 1%.

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  Tue, Sep 10, 2024 at 5:33am MST

  First conclusions from Goldman Sachs Communacopia conference

  It’s 5 a.m. in San Francisco, and I’m currently gearing up for Yahoo Finance’s big day two coverage of the Goldman Sachs Communacopia conference. We’re warming up today, with big conversations with Robinhood (HOOD) CEO Vlad Tenev and AT&T (T) CEO John Stankey.

  But I don’t want to forget day one of the conference! Learned a lot!

  Here are a few key points:

  • The gulf between AMD (AMD) and Intel (INTC) — in terms of technology and overall investment thesis — is as wide as the ocean. I couldn’t be more blown away by the product roadmap that AMD CEO Lisa Su laid out in our chat yesterday (which you can watch here ). Nor could I be more impressed with how Su thinks about the company. Despite all the positive headlines that have been written about her over the past decade, she remains fiercely engaged and focused on winning at AMD — and that’s great for AMD shareholders.

  • Speaking of Intel, Goldman Sachs tech analyst Toshiya Hari essentially reiterated his sell rating on the stock on the show with yours truly and Madison Mills (you can watch it here ). Speaking to Hari off-camera for a moment, I became very concerned about the timeline for Intel to turn its business around. The stock is hovering near record lows.

  • Watch to see how big tech stocks like Nvidia (NVDA) react to the Fed’s inevitable rate cut next week. Goldman software analyst Kash Rangan told us that tech investors are waiting for a rate cut to become more bullish on the sector. He cautioned, however, that the sector needs to do a better job of monetizing AI for stocks to really rise.

  • There’s a good story in the WSJ today about Oracle (ORCL) now being seen as a friend of the world’s largest cloud computing companies, rather than a rival. I think Madison’s exclusive interview with Amazon Web Services CEO Matt Garman at the conference sheds light on that thesis. Garmin discusses how the two are working more closely together.