US stocks made the biggest rise at the premarket

ABONE OL
9 Temmuz 2024 16:33
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Equities rose in early New York trading, defying concerns about an overstretched market, especially in the high-flying tech space. Nvidia led a rally in chipmakers, while Intel was set to rise for a fifth straight session. Treasury yields were higher ahead of a $58 billion three-year note sale.

The chemical company Chemours added about 3 percent after UBS upgraded the company to buy from neutral, saying the stock could outperform as refrigerants see favourable demand and price drivers heading into next year.

Nvidia shares rose more than 1 percent after KeyBanc hiked its price target on the chipmaker to $180, implying an upside of more than 40 percent from Monday’s close. “Despite the impending launch of Blackwell in 2H24, we are not seeing any signs of a demand pause as demand for H100 remains robust,” KeyBanc said.

The oil and gas giant BP’s U.S.-listed shares fell more than 4 percent after the company warned it expects to report an impairment of up to $2 billion. BP also sees weak margins from its refining business.

Tempus AI shares popped nearly 4 percent after several Wall Street banks initiated coverage of the health-care diagnostics company with buy or overweight ratings. Tempus AI, which uses artificial intelligence to interpret medical tests, debuted on the Nasdaq in June.

Intel shares rose 2.7 percent in early morning trading, continuing its comeback this week. Week to date, shares are up roughly 6.1 percent.

Helen of Troy shares of the Hydro Flask and Oxo parent fell more than 25 percent after a big earnings miss. The company earned 99 cents per share, excluding items. Analysts polled by FactSet expected a profit of $1.59 per share. Quarterly revenue guidance was also below estimates.
 

Albania News Agency

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