From CNBC · Jeff Marks · · 1m 50s
Ten things to watch in markets Tuesday
AI gains drive record closes as oil falls and chip stocks digest gains. Meta, Microsoft and banks face analyst moves.
In brief
AI gains drive record closes as oil falls and chip stocks digest gains. Meta, Microsoft and banks face analyst moves. Markets open steady after AI-driven rally sends Nasdaq to record close. Oil extends five-session decline on Strait of Hormuz hopes. Originally reported by CNBC.
Nasdaq hits record after AI rally
Futures indicate a steady open following yesterday's AI-driven stock rally that sent the Nasdaq to its first record close since June and the S and P five hundred to within one percent of its record.
Oil extends five-session decline
Oil is extending its move lower to five straight sessions this morning on hopes that the Strait of Hormuz will fully reopen. The decline in crude is leading bonds to rally, pushing yields lower.
Meta gets price target boost on Muse
Jefferies raised its price target on Meta Platforms to eight hundred seventy five dollars from seven hundred ten dollars, citing the popularity of Muse. JPMorgan said this could be the biggest consumer AI app since ChatGPT.
CPU stocks digest AI-driven gains
Advanced Micro Devices, Arm Holdings and Intel are digesting gains after yesterday's Muse frenzy. AMD joined the one trillion dollar club after Monday's near ten percent rally. Intel is now up about twenty five percent from its secondary offering price.
Microsoft price target raised to five hundred seventy
Oppenheimer raised its price target on Microsoft to five hundred seventy dollars from five hundred fifteen dollars after detailing a meeting at the company's headquarters. The thesis is Azure and M three sixty five Copilot acceleration with capital discipline.
Banks face mixed analyst moves ahead of earnings
Citi analysts put KeyCorp on its thirty day positive catalyst watch list ahead of third quarter earnings. Citi also upgraded Fifth Third to buy from neutral. Both banks report earnings next month. AutoZone beat earnings per share but missed revenue and comp sales estimates.
The headline
Markets open steady after AI-driven rally sends Nasdaq to record close. Oil extends five-session decline on Strait of Hormuz hopes.
