Applied Materials Falls on Margins as S&P 500 Hits Record
Applied Materials posted the biggest quarter-to-quarter revenue jump in its history and the stock fell about 5% anyway — the second straight day a beat-and-raise was punished over margins. Today's preview breaks down what that pattern says about the AI trade, and why the S&P 500 still closed at a record.
Market Preview: Record Stocks, Jobs Miss, Hormuz Oil Risk
The U.S. economy lost 23,000 jobs in July and the S&P 500 still closed at a record 7,757, as investors read the miss as taking a September rate hike off the table. Today's preview covers the software rotation, gold's seven-week high, and the Strait of Hormuz headlines that could move oil Monday.