Nasdaq Tumbles Over 1% As Super Micro And Other Chip Stocks Decline: Fear & Greed Index Remains In 'Neutral' Zone
Portfolio Pulse from Avi Kapoor
The Nasdaq fell over 1% as chip stocks, including Super Micro, declined. Nvidia's stock dropped after-hours despite strong earnings due to margin contraction. Foot Locker shares fell 10% after quarterly results. The Fear & Greed Index remains neutral. Investors await earnings from Best Buy, Dollar General, and Dell.
August 29, 2024 | 6:26 am
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NEGATIVE IMPACT
Foot Locker shares fell 10% following the release of its quarterly results.
Foot Locker's stock dropped significantly after the release of its quarterly results, indicating a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Nvidia reported strong earnings and sales, but its stock fell in after-hours trading due to a contraction in gross margins.
Nvidia's strong earnings were overshadowed by a contraction in gross margins, leading to a negative reaction in after-hours trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
Super Micro shares dipped 19% after announcing a delay in its Form 10-K filing.
The delay in filing Form 10-K is a significant negative event, causing a sharp decline in Super Micro's stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 85
NEUTRAL IMPACT
Investors are awaiting earnings results from Best Buy.
Best Buy's upcoming earnings report is anticipated by investors, but no immediate impact is noted in the article.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Investors are awaiting earnings results from Dell Technologies.
Dell Technologies' upcoming earnings report is anticipated by investors, but no immediate impact is noted in the article.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Investors are awaiting earnings results from Dollar General.
Dollar General's upcoming earnings report is anticipated by investors, but no immediate impact is noted in the article.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50