Nasdaq 100 and S&P500: Tech Shares Raise US Indices as Tariff Exemptions Ease Fears…

Apple added 2% on prime of that, due to its pledge to spend one other $100 billion on U.S. suppliers. Merchants seem like studying this as a push towards reshoring tech manufacturing, not a headwind.

What’s the broader financial backdrop saying?

Jobless claims ticked up only a contact to 226,000, barely above estimates, whereas persevering with claims hit their highest since late 2021. Nonetheless, the report doesn’t level to a significant labor market unraveling. In the meantime, nonfarm productiveness rose a better-than-expected 2.four% in Q2, with unit labor prices up 1.6%. Put merely, the financial system is exhibiting indicators of holding up, at the same time as July’s jobs report hinted at slowing momentum.

Volatility has are available in throughout asset lessons. One-month realized vol within the main indexes is again to ranges we haven’t seen since final June. The S&P 500 and Nasdaq are up 1.7% and a pair of.5% up to now this week, respectively, chipping away at latest losses.

What sectors and shares stood out?

Other than chips, the patron and tech areas lit up. Peloton surged 10% after a shock revenue. DoorDash and DraftKings rallied 7% apiece after robust earnings. On the flip facet, Fortinet cratered 22% following weak steerage, and E.l.f. Magnificence dropped 11% as tariffs on China items bit into income.

Eli Lilly slumped 7% regardless of beating earnings and elevating steerage—proof that even robust fundamentals can get offered if the expectations are sky-high. Airbnb slipped 6% on cautious Q3 steerage, and Intel misplaced 2% after Trump slammed its CEO on social media.

The place do markets go from right here?