Wednesday's big stock stories: What’s likely to move the market in the next trading session
Stocks posted back-to-back losses on Tuesday as Treasury yields continued their rise.
TL;DR
- Major league baseball playoffs coincided with an unprecedented meeting on artificial intelligence involving tech leaders.
- Stocks of AI leaders like SpaceX, Tesla, Nvidia, Alphabet, and Meta Platforms have seen recent declines from their highs.
- Jim Cramer highlighted Goldman Sachs as a bank to watch, noting its stock performance under CEO David Solomon.
- Treasury yields reached multi-month and multi-year highs, with the 2-year yield at a 28-month high and the 10-year yield at a 19-year high.
- Key economic reports due Wednesday include the ADP private payrolls report and the personal consumption expenditures price index.
- Cal-Maine Foods, Conagra, and Micron are scheduled to report earnings on Wednesday.