Live Market Updates: Nasdaq Composite Flat, Inflation Rises & Bitcoin Soars

Markets are officially closed for Wednesday, let’s look at some of the major highlights.

• Markets Largely Flat: The S&P 500 finished up .02% today, while the Dow Jones was up .11% and the Nasdaq fell .26%.
• Megacaps: Among tech megacaps, Amazon (Nasdaq: AMZN) was the biggest gainer at 2.47%. Semiconductors struggled today with NVIDIA (Nasdaq: NVDA) shedding 1.31% and AMD (Nasdaq: AMD) dropping 3% after announcing a 4% cut to its workforce.
• Earnings After the Bell: After the bell Nu Holdings (NYSE: NU) reported earnings that were largely in line with expectations and is currently down 1.5%. Cisco (Nasdaq: CSCO) announced adjusted earnings of $.91, which was above expectations of $.87. Shares are flat in after-hours trading.

Let’s check on some of the stocks seeing the biggest gains today:

• CAVA Group: The Mediterranean restaurant chain saw shares up 16% in early trading after releasing stellar earnings, but shares have faded throughout the day. CAVA has become a battleground stock with critics pointing out its rich valuation while bulls argue it’s the next Chipotle.
• Spotify: The streaming music leader posted outstanding earnings and is up 12% in late trading. User growth accelerated and the company offered earnings guidance for the next quarter that was ahead of expectations.
• Rocket Lab: Is see shares absolutely skyrocket today, up 35% in late trading. The company reported third-quarter earnings that topped expectations. Sales hit $104.8 million, a 55% jump from last year’s $67.6 million. In addition, the company announced the first launch customer for its Neutron rocket. Shares in the company are now up 275% year-to-date.

Let’s take a look at some of the worst performers in the market today:

• Monolithic Power Systems: Is down 6.3% today. A report was published earlier this week that Monolithic Power Systems may be losing revenue share in NVIDIA’s next-generation Blackwell systems.
• Super Micro Computer: Is down another 4.7% after filing a delay of its 10-Q. The company is at risk of being delisted by the Nasdaq, which had previously happened in 2018.
• MARA Holdings: A Bitcoin miner that’s not seeing share gains while other Bitcoin-adjacent stocks rally. Marathon Digital released earnings that at a -.42 per EPS came in well believe expectations of -.34 for the quarter. The company’s stock is down 14% in late trading.