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Dimon Bets on Higher U.S. Interest Rates
While Wall Street has been awaiting the first interest rate cut of 2025, one bank executive suggests traders and investors might not want to hold their breath. JPMorgan CEO Jamie Dimon reportedly said he would bet there’s a 40%-50% chance of higher interest rates in the U.S. economy.
The Nasdaq Composite has turned slightly lower.
Coinbase Deal
Digital asset exchange Coinbase (Nasdaq: COIN) has partnered with AI giant Perplexity AI in a deal that is reportedly designed to “to help traders get access to real-time trusted crypto data/info for better decision making.” Coinbase stock is trading lower by 0.60%.
Tesla (Nasdaq: TSLA) will hold its annual shareholder meeting in early November. TSLA stock is gaining 2.4% but remains down 24.8% year-to-date.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are meandering in and out of positive territory after the Nasdaq Composite clinched a fresh all-time high in yesterday’s session. As of early morning trading, the three major stock market indices are relatively flat. The Trump administration isn’t done slapping tariffs on trade partners, the most recent of which involves a 50% tariff on Brazilian imports. On the economic front, U.S. jobless claims moved lower last week, surprising economists amid mixed signals from the labor market.
HSBC analysts have their eye on Advanced Micro Devices (Nasdaq: AMD), saying its recent AI chip solution has thrust it into the AI spotlight, potentially giving AI Nvidia (Nasdaq: NVDA) a run for its money. HSBC has attached a “buy” rating on AMD shares with a bullish price target of $200 per share, reflecting upside potential of approximately 44%. Yesterday, Nvidia made history by becoming the first company to cross the $4 trillion market cap threshold.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 21.94 (+0.05%)
Nasdaq Composite: Down 54.91 (-0.27%)
S&P 500: Down 5.52 (0.09%)
Market Movers
MP Materials (NYSE: MP) stock is soaring 55% after the company inked a rare Earth-mining contract with the Department of Defense to strengthen the U.S. magnet supply. The deal is reportedly worth billions of dollars, including a $400 million capital injection by the DoD for preferred shares and a warrant, making the government agency a major shareholder of MP Materials. The Trump administration previously tipped its hand to deals like this as the U.S. goes head-to-head with China.
Delta Airlines (NYSE: DAL) stock is soaring 12% today on strong quarterly results amid “stabilizing” travel demand. The airline managed to beat expectations in H1 2025 and increase its quarterly dividend payout by 25%, beginning in September.
WK Kellogg (NYSE: KLG) is skyrocketing by 30% today after agreeing to be taken over by Italy’s Ferrero, which is behind the popular Nutella product, in a blockbuster $3.1 billion merger.
The post Live Nasdaq Composite: Tech Eyes New Highs as Markets Diverge appeared first on 24/7 Wall St..
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Author: Gerelyn Terzo
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