Market correction may not be over yet | Wilnesh News

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

wide gathering
Wall Street staged a broad rally, Ending three-game losing streak. this Dow Jones Industrial Average rose nearly 300 points, while S&P 500 Index and Nasdaq Index Both rose more than 1%. All 11 S&P 500 sectors ended in the green. Large-cap stocks rebounded from Monday’s losses, with Nvidia and meta platform, up 3.8% and 3.9% respectively. 10-Year Treasury Bond Yield Ministry of Finance go higher while US oil prices Rose after hitting a six-month low on Monday.

Not that super
super microcomputer The company’s share price fell 13% Fourth-quarter profit fell short of expectations. The company’s first-quarter revenue forecast topped Wall Street expectations and also announced 10-for-1 stock split. Super Micro is the main server supplier to Nvidia, a major player in the artificial intelligence boom that has seen significant growth in recent years. However, the company’s profitability is now a concern for investors. Gross profit margin fell to 11.2% this quarter from 17% in the same period last year.

Microsoft vs Delta Air Lines
Microsoft defendant Delta Airlines of obsolete technology back IT outage triggered in july Airlines cancel more than 5,000 flights. The company said the incident had caused $500 million in losses and was seeking compensation from Microsoft and CrowdStrike. A botched software update for CrowdStrike last month affected millions of computers running Microsoft Windows. Microsoft questioned why Delta Air Lines has struggled to recover compared with other airlines, suggesting the airline has yet to modernize its IT infrastructure. Delta Air Lines refuted the claim.

X sues advertiser
Elon Musk’s X (formerly Twitter) is sue a group of advertisers He is suspected of orchestrating illegal boycotts that cost the platform billions of dollars in lost revenue. The lawsuit, filed in Texas, accuses the World Federation of Advertisers and its members of violating antitrust laws by halting advertising after Musk took over. Musk declares ‘war’ on X“Against advertisers, while X CEO Linda Yaccarino cited evidence The U.S. House Judiciary Committee found this to support the lawsuit’s claims.

Asian markets rise
Japanese stocks rise On Wednesday, the Bank of Japan’s deputy governor said the central bank would not raise interest rates amid “extreme market volatility.” this JPY It fell 2.3% against the dollar to 147.75 to boost Japan’s exports Nikkei 225 Index. The index rose 2.8% after rising more than 10% on Tuesday. Hong Kong’s Hang Seng Index As China’s imports grew faster than expected in July, the CSI 300 Index rose 1.67% and the CSI 300 Index rose 0.28%. Export growth fell short of expectations. Korean Cospi Up 2.45%, Australia S&P/ASX 200 Index up 0.55%.

(PRO) “Highest Conviction” Stock
Australian investment bank Macquarie has confirmed 10 stocks worth believing in There are buying opportunities amid market volatility and sell-offs amid concerns about a U.S. recession and the unwinding of yen carry trades.

Wall Street is crawling out of holes all meeting, but Goldman Sachs Warning Tweaks May Not Be Ended Yet. really, Futures open lower to Wednesday’s meeting.

Peter Oppenheimer, chief global equity strategist at Goldman Sachs, told CNBC that after a strong first half of the year, especially given signs of a slowing U.S. economy and growing market “complacency.” Market corrections are “healthy and to some extent inevitable.”

“My sense is that this correction, while it’s stabilizing, is not over yet. I think we’re still going to see some volatile conditions in the short term as investors really start to adjust and become more confident in the direction again but with that At the same time, I don’t think we’re in a bear market yet, and there are going to be some great opportunities here.

When asked by CNBC’s David Faber whether Nasdaq’s price-to-earnings ratio, now down to 24 times earnings, was a good entry point for investors to get back into the market, Oppenheimer said, “I don’t think it’s down enough.” He predicted that in The price will fall further before value investors decide this is a good buying opportunity.

Large-cap stocks plunged $1 trillion in early trading Monday, before recovering some of their losses. There are a lot of concerns about Microsoft’s profits and billions of dollars in spending, Yuan, Amazon and letter About the Artificial Intelligence Data Center. Hedge Fund Elliott Management reportedly told Customers believe that Nvidia is in a “bubble” and that the craze for artificial intelligence has been “over-hyped.”

Ankur Crawford, Alger Portfolio Manager, Investors urged to look beyond short-term gains and focus on the long-term profitability of companies leading the AI ​​revolution.

“If you only look at MicrosoftAccording to Azure, they’ve grown from zero-dollar business seven quarters ago to a $6 billion operating rate now. I would challenge anyone to tell me what other business has gone from zero to $6 billion in a year and a half. And this is only the early stages of the artificial intelligence industry.

— CNBC’s Hakyung Kim, Samantha Subin, Sean Conlon, Jeff Cox, Rohan Goswami, Leslie Josephs, Spencer Kimball and Dylan Butts contributed to this report.