Live Market Updates: Nasdaq Composite Flat, Inflation Rises & Bitcoin Soars
Live Updates
Closing Bell Updates
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.
Biggest Winners in the Market Today
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.
Market Losers Today
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.
As of 11:30 a.m. ET, indexes are mostly in the green today. Let’s take a peek at their performance:
- Dow Jones Industrial Average: Up 182.28 (+.42%)
- S&P 500: Up 11.85 (+.20%)
- Nasdaq-100: Down 2.21 (-.01%
- Russell 2000: Up 16.81 (+.70%)
Beyond stocks, the story is once again Bitcoin. Each Bitcoin is trading for $92,657, a jump of 6.73% across the past 24 hours. Bitcoin traded for $68,299 before the election on November 5th, meaning its price has now soared a remarkable 36% since Donald Trump’s election.
Let’s get to today’s most important market news.
Inflation on the Rise
Fresh CPI data was released this morning that showed prices up 2.6% in October. That’s a slight increase from a measurement of 2.4% in September.
While that headline might sound bad, its worth noting that the 2.6% increase is inline with estimates, which is why markets have largely shrugged off this CPI reading.
What prices are soaring? The price of eggs rose a whopping 30.4%! Other food items that are still seeing inflation include juices and drinks (13.9%), oranges (7.2%), butter (5.1%), and instant coffee (3.5%).
Overall, food prices at home increased only 1.1% from last year, which is below the overall inflation measure. Food prices away from home increased 3.8%, which might be why dining out feels more expensive.
Items not including food and energy saw a 3.3% increase. Motor vehicle insurance was up 14%, gardening and lawncare were up 8.1%, and vehicle repair was up 7.3%. In short, if the price of labor is a major factor in the services you’re spending money on, their cost is likely rising more than overall inflation.
Stocks Rising Today
Stocks rising today include ones that could potentially benefit from a government focus on efficiency. Last night Donald Trump announced a ‘Department of Government Efficiency’ (DOGE), that will be managed by Elon Musk and Vivek Ramaswamy.
It’s unclear what authority the department would have, but investors are placing bets on companies like Palantir (NYSE: PLTR), CrowdStrike (Nasdaq: CRWD), and Axon (Nasdaq: AXON) seeing more business if the government cuts jobs and relies more on technology.
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
© Canva
Top Gaining Stocks
Top Losing Stocks