S&P 500 (NYSEARCA: SPY) Live: Markets Remain Jumpy Despite China Trade Deal Optimism
Investing
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The markets erased earlier gains, sending all three of the major stock market averages lower. SPY is lower by 0.17%.
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The S&P 500 is expected to reveal changes to its member lineup at the end of the week, and AppLovin and Carvana are in contention, according to Wall Street analysts.
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10:17 am
Wall Street analysts are showing growing optimism regarding Amazon stock. Below is a summary of the latest analyst actions:
Earlier this week, BofA reconfirmed its Buy rating for Amazon (Nasdaq: AMZN), elevating its price target from $230 to $248. The analysts underscored Amazon’s progress in robotics and artificial intelligence, suggesting these innovations could boost retail margins by roughly two percentage points, thereby supporting additional upside.
JPMorgan sustained its Overweight rating and adjusted its price target upward from $225 to $240. The firm underscored Amazon’s dominant position in e-commerce and Amazon Web Services (AWS), alongside favorable margin trends and a robust FCF acceleration, contributing to a positive long-term outlook.
Barclays maintained an Overweight rating with a $240 price target, commenting that anticipated delays in Amazon’s Project Kuiper (its satellite internet venture) are already factored into the stock’s valuation. They conveyed confidence in Amazon’s 2025 launch schedule and cost projections for the initiative.
This article will be updated throughout the day, so check back often for more daily updates.
The markets remain unpredictable, and today is no exception. After starting out of the gate higher on trade talk hopes, stocks have since erased those gains. According to Chinese state media, talks have resumed between the White House and Beijing. In a final push, officials from both nations are attempting to rescue stalled trade negotiations. This appeared to have reignited the “risk-on” sentiment, but the markets have since taken a nosedive. Economic sectors are showing mixed signals today, lacking a decisive direction. The SPDR S&P 500 ETF (SPY) is now down 0.20% on the day.
Amazon (Nasdaq: AMZN) has been in the spotlight recently, particularly after unveiling a $10 billion investment in AI-powered data centers in North Carolina. The stock has climbed 1.7% today. Meanwhile, the broader S&P 500 index is under scrutiny as it prepares to announce changes to its constituent companies on Friday. Bank of America has weighed in, suggesting that AppLovin (Nasdaq: APP) and Carvana (NYSE: CVNA) might gain entry into the index.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 113.82 (-0.27%)
Nasdaq Composite: Down 45.89 (-0.24%)
S&P 500: Down 15.37 (-0.25%)
Market Movers
In a strong vote of confidence for Big Tech, analyst firm Daiwa has reaffirmed its “outperform” rating on Nvidia (Nasdaq: NVDA) stock, increasing its price target to $165 per share, indicating a potential upside of 17%. Separately, Bank of America analysts reiterated NVDA stock as a top selection with a $180 price objective, stating it’s ideally positioned to ride the “AI tide.”
Tesla (Nasdaq: TSLA) is down nearly 5% today after Elon Musk commented on the U.S. tax bill.
Broadcom (Nasdaq: AVGO) is set to release its quarterly earnings after the market closes today. The stock is trading marginally lower this morning.
Procter & Gamble (NYSE: PG), a Dow component, has fallen 1.4% following its announcement of significant layoffs, totaling 7,000 jobs, as part of a broader corporate reorganization
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