Latest news for Yageo (OTC:YAGOY) Stock

Yageo produces passive components for electronic devices. Passive components are necessary for all electronic circuits; they are used to stabilize and control electric flow and remove electromagnetic noise from the circuit. Yageo's main products are multilayer ceramic capacitors, chip resistors, inductors, and tantalum capacitors, which are ranked third, first, third, and first in global production volume, respectively.

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A Look At Losers And Gainers From The Pandemic-Led MLCC Crisis: WSJ

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FXCOF

HNHAF

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STLA

Apple Supplier Foxconn Reiterates Aggravating Semiconductor Chip Crisis Warning: Bloomberg

Yageo Corp

Management

VSEC

VSE Corporation Appoints Adam Cohn As CFO, Effective Sept. 3

Scotiabank analyst Cameron Bean upgrades Antero Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) from Sector Perform to Sector Outperform and raises the price target from $40 to $44.

Upgrades

Price Target

Analyst Ratings

Scotiabank Upgrades Antero Resources to Sector Outperform, Raises Price Target to $44

Biotech

General

TNXP

Tonix Pharmaceuticals Enrolls First Patient In Phase 2 CATALYST Study Of TNX-1300 For Treatment Of Cocaine Intoxication

The price of gold has <a href="https://www.benzinga.com/news/large-cap/24/08/40419054/gold-prices-hit-all-time-highs-of-2-500-as-traders-jump-on-rate-cut-train-mining-stocks-on-the-mov">reached an all-time high</a>, and experts are predicting that it could climb even higher due to a combination of factors.
What Happened: Gold prices have surged approximately 20% this year, reaching a record high on Friday. The spot gold price is now just shy of $2,500 an ounce.
Ole Hansen, the head of the commodity strategy at Denmark&#8217;s Saxo Bank, in a Monday note, stated that the price rally has been in an &#8220;uninterrupted rally&#8221; since October when gold was priced at $1,810 an ounce. A standard-size gold bar of about 400 troy ounces now costs over $1 million.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40453739/elon-musk-sends-dogecoin-spiking-with-ai-generated-image-says-willing-to-serve-in-governme?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Sends Dogecoin Spiking With AI-Generated Image, Says &#8216;Willing To Serve&#8217; In Government Department That Spells D.O.G.E.</a>
What&#8217;s Driving The Market Higher?
A potential <a href="https://www.benzinga.com/news/24/08/40433267/mary-daly-of-federal-reserve-pitches-gradual-interest-rate-cuts-citing-inflation-confidence-we-are-o#:~:text=She%20emphasized%20the%20need%20for,%25%2C%20according%20to%20the%20report.">Federal Reserve interest rate cut,</a> following slower-than-expected July inflation data and higher unemployment figures, is a significant factor driving the market&#8217;s expectation for higher gold prices. Investors are eagerly awaiting Jerome Powell&#8217;s keynote at the Fed&#8217;s annual symposium at Jackson Hole, Wyoming, on Friday, for indications of the central bank&#8217;s next move.
Daniela Sabin Hathorn, a senior market analyst at Capital.com, <a href="https://capital.com/jackson-hole-preview-all-eyes-on-powell-and-gold">wrote</a>, &#8220;The question now is how big will the rate cut be?&#8221; A larger rate cut could lead to higher gold prices as a fall in US interest rates typically depresses bond yields and the greenback, driving investment into gold, which is internationally denominated in the dollar.
Geopolitical risks such as the wars in Ukraine, the Middle East, and the upcoming US presidential election are also boosting the appeal of gold, a traditional safe haven. In China, consumers are buying gold to preserve value amid a depressed economic environment, a property crisis, and a weak currency.
Hansen wrote, &#8220;Continued central bank demand amid geopolitical uncertainty and de-dollarization, and not least gold&#8217;s ability to offer a level of security and stability that other assets may not provide&#8221; would support the yellow metal.
Gold Outpaces Bitcoin Gains
Gold has also surpassed Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) performance, indicating that <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40107228/why-golds-luster-could-ignite-a-digital-gold-bitcoin-rally-10x-research">cryptocurrencies may not serve</a> as the effective hedge against lower interest rates, a declining dollar, and financial instability that Bitcoin proponents had anticipated. Over the past month, Bitcoin has dropped more than 10%, while gold prices have risen by 6% since mid-July.
"Gold is getting its moment in the sun, and investors are taking note," said Jason Goepfert, senior research analyst with Sundial Capital Research, <a href="https://www.barrons.com/amp/articles/gold-price-record-high-rally-1e904b77">reported</a> Barron&#8217;s.
Why It Matters: Gold is often viewed as a safe-haven investment in times of economic and political uncertainty. The precious metal can also serve as a hedge against declines in the value of the U.S. dollar. This has been a key factor in the recent surge in gold prices, <a href="https://www.benzinga.com/news/earnings/24/08/40349152/barrick-ceo-on-high-gold-prices-why-he-says-the-miner-is-undervalued-you-get-a-lot-for-free">as highlighted</a> by Barrick Gold Corp.&#8217;s CEO, Mark Bristow, who stated that the world&#8217;s geopolitical situation is the primary reason for the surge in gold prices, not inflation.
Meanwhile, Gold mining stocks have recently seen a significant rise in value. The VanEck Gold Miners exchange-traded fund (ETF) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which includes holdings such as Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>), and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), has increased by nearly 25% this year, according to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>. Typically, when gold prices rise, the profits and sales for these mining companies also surge.
Other ETFs such as SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) have also gained over 21% this year. 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/24/08/40409247/former-google-ceo-eric-schmidt-highlights-nvidia-as-major-ai-player-in-now-deleted-video-thats-not-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Google CEO Eric Schmidt Highlights Nvidia As Major AI Player In Now Deleted Video</a>
Photo courtesy: Michael Sutton via Flickr

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Market Vectors ETF Trust Market Vectors Gold Miners

GLDM

GOLD

Gold 'Is Getting Its Moment In The Sun' And Experts Say The Record High Prices Could Climb Even Higher: Here's The Case For Even More Glittering Gains

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Xenetic Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XBIO#NASDAQ">XBIO</a>) with a Neutral.

Reiteration

XBIO

HC Wainwright & Co. Reiterates Neutral on Xenetic Biosciences

AUUD

Auddia Inc. Announces The Launch Of faidr 3.1

WIIM

XPEV

XPeng shares are trading higher after the company guided Q3 deliveries up approximately 2.5% to 12.5%.

Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>)&nbsp;reported second-quarter sales of $3.7 billion,&nbsp;down by 3.6% year-on-year, which topped the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40455792/vipshop-reports-unaudited-second-quarter-2024-financial-results" rel="noreferrer noopener">Wall Street view of $3.66 billion</a>.
Vipshop Holdings&nbsp;registered&nbsp;adjusted earnings per ADS of 54 cents, which aligns with <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the analyst consensus</a>.&nbsp;The stock price slid after the print.
Total orders for the quarter were 197.8 million,&nbsp;compared with 213.8 million in the prior year period.
Gross margin for the quarter increased to 23.6% from 22.2% in the prior year period. Gross profit jumped 2.2%&nbsp;year over year&nbsp;to&nbsp;RMB6.3 billion&nbsp;($872.6 million).
GMV&nbsp;for the quarter remained flat year over year at&nbsp;RMB50.6 billion.
As of&nbsp;June 30, 2024, the company had cash and cash equivalents, restricted&nbsp;cash&nbsp;of&nbsp;$3.0 billion, and&nbsp;short-term&nbsp;investments of&nbsp;$264.3 million.
Share Repurchase Program: During the quarter, the company repurchased&nbsp;$205.9 million&nbsp;of its ADSs under its current&nbsp;$1 billion&nbsp;share repurchase program,&nbsp;&nbsp;which is effective through&nbsp;March 2025.&nbsp;
The board has authorized a new share repurchase program under which the company may repurchase up to&nbsp;$1 billion&nbsp;for 24 months.
Outlook:&nbsp;For the third quarter of 2024, the company expects its total net revenues to be between&nbsp;RMB20.5 billion-RMB21.6 billion, representing a year-over-year decrease of approximately 10%-5% versus <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of RMB22.9 billion</a>.&nbsp;
The discount retailer lost over 11% in the last 12 months as it battles a weak domestic economy.
Price Action: VIPS shares are trading lower by 7% to $13.04 premarket at last check Tuesday.&nbsp;

Earnings

Equities

Guidance

Buybacks

Movers

VIPS

Chinese Discount Retailer Vipshop Posts 4% Topline Decline As Economy Hurts, Sweetens Deal With $1B Buyback Plan

According to predictions by Wedbush Securities, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is poised to report another strong quarter of earnings, propelled by the current surge in AI spending.
What Happened: In a CNBC interview on Monday, Wedbush Securities expressed continued confidence in the Jensen Huang-led chip giant ahead of its second-quarter earnings announcement on Aug. 28. The firm had earlier projected a $1 trillion &#8220;tidal wave&#8221; of AI spending, which is now in full effect.
Wedbush&#8217;s SVP of equity research, Matt Bryson, attributed the recent drop in Nvidia shares to worries about diminishing demand for the company&#8217;s AI chips and potential problems with Blackwell, its upcoming GPU. However, he pointed out that many of Nvidia&#8217;s key customers, including Foxconn and Supermicro, have reported strong profits, partially due to increased AI investment.
&#8220;What&#8217;s fueling it is there&#8217;s still a ton of spending on the AI chips that Nvidia makes,&#8221;&nbsp;Bryson pointed out.
Despite some analysts&#8217; doubts about Nvidia&#8217;s success, Bryson maintains a &#8220;buy&#8221; rating for the company, expecting another strong quarter. 
He noted, &#8220;There just doesn&#8217;t seem to be any change in momentum from their customer base.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Bryson: There is still a ton of spending on the kind of chips Nvidia makes" width="500" height="281" src="https://www.youtube.com/embed/EzJmjaXyB2s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also: <a href="https://www.benzinga.com/news/24/08/40429962/mary-trump-donalds-narcissistic-injury-is-so-great-that-he-has-essentially-stopped-campaigning?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump: &#8216;Donald&#8217;s Narcissistic Injury Is So Great That He Has Essentially Stopped Campaigning&#8217;</a>
Why It Matters: The <a href="https://www.benzinga.com/markets/equities/24/08/40304983/nvidias-earnings-set-for-drop-the-mic-moment-as-investors-anticipate-massive-ai-demand-forecast-">upcoming earnings report </a>from Nvidia could be a turning point for the company. Investors worldwide are eagerly awaiting insights from CEO Jensen Huang on the future demand for AI chips through 2025.
Despite concerns about the timing of the Blackwell GPU launch, Goldman Sachs <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40443620/goldman-sachs-is-bullish-on-nvidia-ahead-of-earnings-risk-reward-for-ai-stock-favor">remains bullish on Nvidia&#8217;s</a> long-term growth trajectory, particularly driven by strong demand from cloud service providers (CSPs) and enterprises for artificial intelligence.
Former Google CEO Eric Schmidt highlighted Nvidia as a key <a href="https://www.benzinga.com/news/24/08/40409247/former-google-ceo-eric-schmidt-highlights-nvidia-as-major-ai-player-in-now-deleted-video-thats-not-a">player in the AI market</a>, noting that large tech companies are planning substantial investments in Nvidia-based AI data centers, potentially costing up to $300 billion.
Price Action: On Tuesday, Nvidia was trading at $129.16, which is 0.65% lower than its Monday&#8217;s close of $130.00, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40429672/elon-musk-is-the-richest-person-in-the-world-how-much-does-he-pay-employees-at-tesla-spacex-and-x?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is The Richest Person In The World — How Much Does He Pay Employees At Tesla, SpaceX And X?</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

NVDA

Top Analyst Says Nvidia Poised For Strong Q2 Results: 'There's Still A Ton Of Spending On The AI Chips'

PANW

Palo Alto Networks shares are trading higher following better-than-expected Q4 financial results, issued strong guidance and authorized an additional $500 million for repurchase. Multiple analysts raised their price targets on the stock following the report.

Fabrinet shares are trading higher after the company reported better-than-expected Q4 financial results and issued strong guidance.

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Processa Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) with a Buy and maintains $6 price target.

PCSA

HC Wainwright & Co. Reiterates Buy on Processa Pharma, Maintains $6 Price Target

Chinese EV maker&nbsp;XPeng&nbsp;Inc&nbsp;(NYSE: XPEV) reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40456173/xpeng-reports-second-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">fiscal second-quarter</a> sales growth of 60.2% year-on-year,&nbsp;to 8.11 billion Chinese Yuan ($1.12 billion), missing the&nbsp;analyst consensus estimate of 8.21 billion Chinese Yuan ($1.13 billion).&nbsp;Total revenues&nbsp;increased 23.9% sequentially.
Adjusted&nbsp;net loss per ADS&nbsp;of (1.29) Chinese Yuan missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus loss estimate of</a> (1.26) Chinese Yuan. In USD terms, the adjusted earnings per ADS was a loss of 18 cents, which is in line with the consensus.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/08/40441110/whats-going-on-with-chinese-ev-stocks-nio-xpeng-and-li-auto-on-monday" rel="noreferrer noopener">China's Cash-for-Clunkers Program Could Drive EV Sales to 10 Million in 2024, Boosting NIO, XPeng, and Li Auto Stocks</a>
The&nbsp;Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival's quarterly vehicle deliveries increased 30.2% year-on-year to 30,207.&nbsp;
XPeng's physical sales network&nbsp;had 611 stores, covering 185 cities as of June 30, 2024. XPeng's&nbsp;self-operated&nbsp;charging&nbsp;station&nbsp;network&nbsp;reached 1,298 stations&nbsp;as of&nbsp;June 30, 2024.
Revenues from vehicle sales increased 54.1% Y/Y to $0.94 billion. Gross margin was 14.0%&nbsp;versus&nbsp;(3.9)% a year ago. Vehicle margin was 6.4%&nbsp;versus&nbsp;(8.6)% a year ago, primarily attributable to the cost reduction and the improvement in&nbsp;the model product mix.&nbsp;
Operating&nbsp;loss for the quarter was $(0.22) billion.&nbsp;The&nbsp;company held $5.14 billion in cash and equivalents&nbsp;as of June 30, 2024.
"Starting from the launch of MONA M03 in August, we are about to enter into a strong product cycle. In the next 3 years, we will have a large number of new models and facelift versions in the pipeline for market launch," said Mr. Xiaopeng He, Chairman and CEO of XPeng.&nbsp;
"With cost reduction through technical improvement and revenues from technical collaboration in our strategic partnership with Volkswagen, our gross profit margin in the second quarter of 2024 has further increased to 14.0%," said Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of XPENG.&nbsp;
Outlook: XPeng&nbsp;expects third-quarter vehicle deliveries&nbsp;of&nbsp;41,000–45,000, up 2.5%–12.5% year-on-year.
The company expects second-quarter revenue of 9.1 billion&nbsp;Chinese Yuan–9.8 billion Chinese Yuan, representing a year-on-year increase of 6.7%–14.9%,&nbsp;versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of 10.50 billion Chinese Yuan</a>.
XPeng stock plunged over 56% in the last 12 months as it strives against a domestic price war coupled with U.S. and EU protectionist tariffs.
Price Action: At the last check on Tuesday, XPEV stock traded higher by 0.28% to $7.22 premarket.
Image by Robert Way via Shutterstock

Emerging Markets

TSLA

XPeng Q2 Earnings: 30.2% Deliveries Growth, Margin Boost From Volkswagen Partnership, Q3 Outlook And More

Lilly Announces Results From SURMOUNT-1 Three-Year Study Of Tirzepatide, Showing Weekly Tirzepatide Injections Reduced Risk Of Progression To Type 2 Diabetes By 94% In Adults With Pre-Diabetes And Obesity

HC Wainwright &amp; Co. analyst Robert Burns reiterates PMV Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMVP#NASDAQ">PMVP</a>) with a Buy and maintains $5 price target.

PMVP

HC Wainwright & Co. Reiterates Buy on PMV Pharma, Maintains $5 Price Target

Citigroup analyst Thomas Singlehurst downgrades Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) from Buy to Neutral and raises the price target from $77 to $90.

Downgrades

Citigroup Downgrades Stride to Neutral, Raises Price Target to $90

Health Care

Medtronic Raised Its Fiscal Year 2025 Adjusted EPS Guidance To $5.42-$5.50 Versus The Prior Range Of $5.40-$5.50 And Consensus Of $5.44

HC Wainwright &amp; Co. analyst Andrew Fein maintains Liquidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LQDA#NASDAQ">LQDA</a>) with a Buy and lowers the price target from $32 to $29.

LQDA

HC Wainwright & Co. Maintains Buy on Liquidia, Lowers Price Target to $29

The gravity-defying climb faces risk, as the index futures trade narrowly mixed in early trading on Tuesday. That said, <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">the recent gains </a>could keep traders wary of a potential pullback. A couple of speeches by Federal Reserve officials are the lone Main Street catalysts for the day even as the market has set its eyes on Fed Chair Jerome Powell&#8217;s Jackson Hole Symposium address due Friday. Until such time, the market may remain in a wait-and-watch mode.
Given the bounce in cryptocurrencies, stocks exposed to these digital assets could gain some ground and tech stocks appear on track to preserve their upward momentum. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.04%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.06%</td>
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</tbody>
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In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.04% to $559.82, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.10% to $481.76, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session: 
Stocks climbed solidly on Monday as the multi-session run-up continued, with support coming from weak economic data and a Fed speech that perked up hopes of an incoming Fed rate cut. Minneapolis Fed President Neel Kashkari, who is considered more of a hawk, said in an exclusive interview with the Wall Street Journal, &#8220;The balance of risks has shifted, so the debate about potentially cutting rates in September is an appropriate one to have.&#8221;
 The major averages opened higher and moved roughly sideways in early trading before climbing steadily through much of the remainder of the session. The buying interest accelerated in the final few minutes of trading. 
The tech-heavy Nasdaq Composite index and the broader S&amp;P 500 index extended their winning streak to eight, and in the process, these averages settled at their highest closing levels since July 23 and July 16, respectively. The S&amp;P 500 is now just under 60 points away from its all-time highs. 
The 30-stock Dow Jones Industrial Average is on a five-session winning run, with Monday&#8217;s gains coming on the back of the rally in the shares of McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). The blue-chip is now at the highest level since July 17.
The gains were across the board, with all 11 S&amp;P 500 sector classes gaining ground. Communication services, IT and consumer discretionary stocks found notable buying interest.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.39%</td>
<td>17,876.77</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.97%</td>
<td>5,608.25</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.58%</td>
<td>40,896.53</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.19%</td>
<td>2,167.50</td>
</tr>
</tbody>
</table>
</figure>
The Nasdaq Composite, which fell into correction territory -defined as a pullback of over 10% from recent highs, on Aug. 5 amid the market collapse set in by yen carry trade unwinding, has quickly sprung back up. The intraday low hit on Aug. 5 (15,708.54) marked a roughly 16% pullback from the July 11 intraday high of 18,671.07. The index exited correction territory in merely 11 sessions, the fastest recovery since Oct. 2011, Barron&#8217;s <a href="https://www.barrons.com/livecoverage/stock-market-today-081924">reported</a>.
Insights From Analysts:
The stock market is entering a &#8220;very positive four-week equity trading window,&#8221; Goldman Sachs Trading Desk&#8217;s Managing Director Scott Rubner said in a note to clients on Monday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-08-19/goldman-s-rubner-says-the-pain-trade-for-us-stocks-is-higher">reported.</a> The strength could come from the following:
<ul>
<li>inflows from trend-following systemic funds that are re-leveraging after cutting their total long exposure from $450 billion in July to $250 billion currently.</li>
<li>Commodity trading advisers are likely to buy stocks irrespective of the market trend</li>
<li>Buying by volatility-control funds as the CBOE volatility index posted the biggest nine-day drop in history following the Aug. 5 market collapse</li>
<li>traders going against the prevailing trend, aka long gamma positioning, which could serve as a buffer in the eventuality of a sell-off</li>
<li>Corporate demand rising until the corporate blackout window closes for about 50% of the companies on Sept. 13; Goldman estimated that corporate buybacks will likely total $1.15 trillion worth of authorizations and $960 billion worth of executions in 2024.</li>
<li>Money market investment in equities</li>
</ul>
That said, the strategist flagged pain ahead for the market. &#8220;The pain trade for equities is higher and the bar for being bearish at the beach into a Labor Day barbecue party is high,&#8221; he reportedly said. He sees the stock market turning negative after Sept. 16, given the second half of the month has historically been the worst two-week trading period of the year.
Previewing the Jackson Hole Symposium that kickstarts Thursday, WisdomTree Senior Economist and Wharton Professor Emeritus Jeremy Siegel said, Powell&#8217;s speech at 10 a.m. on Friday is the big event. &#8220;I expect him to clear the path for a rate cut in September, but not divulge the size,&#8221; the economist said.
Powell will likely say that the central bank is becoming more confident that inflation is moving towards its target and that it can afford to loosen the degree of monetary restrictiveness, Siegel said, while also cautioning that there is still much data to come, including August inflation and payrolls as well as four more jobless claims.
Upcoming Economic Data
<ul>
<li>Atlanta Fed President Raphael Bostic is scheduled to speak at 1:35 a.m. EDT.</li>
<li>Fed Vice Chair for Supervision Michael Barr&nbsp;will make a public appearance at 2:45 p.m. EDT.</li>
</ul>
See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rose over 2.4% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly results announcement.</li>
<li>Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) and Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies due to release their quarterly results</a> before the market opens.</li>
<li>Those reporting after the close include Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), La-Z-Boy Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZB#NYSE">LZB</a>) and ZTO Express (Cayman) Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTO#NYSE">ZTO</a>).</li>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally has propped up MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell yet again and traded around the $73.5 level, while gold futures climbed past the $2,560 mark. Bitcoin gained ground over the past 24 hours and approached the $61K mark.
The Asian markets ended Tuesday&#8217;s session on a mixed note, with the Japanese Nikkei 225 average rising sharply, while the Hong Kong, Chinese, Malaysia and Indonesian markets retreated.
The sentiment is fluid in Europe, with the Euro STOXX Index rising slightly in early trading, while the U.K.&#8217;s FTSE Index is pulling back sharply.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40454745/palantir-co-founder-peter-thiel-says-ai-is-really-a-big-deal-but-could-take-15-20-years-to-become-su">Palantir Co-founder Peter Thiel Says AI &#8216;Really A Big Deal&#8217; But Could Take 15-20 Years To Become &#8216;Super Dominant,&#8217; — Calls This The &#8216;Holy Grail&#8217; Of AI Research</a></li>
</ul>
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Yageo

<ul>
	<li>Asia&#39;s pandemic resurgence threatens the manufacture of ceramic bits in&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhones and&nbsp;Sony Group Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) Playstations,&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/covid-19-surge-in-asia-threatens-manufacture-of-ceramic-bits-in-iphones-and-playstations-11630316100?mod=tech_lead_pos2" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Wall Street Journal reports</a>.</li>
	<li>Japan&#39;s&nbsp;Murata Manufacturing Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRAAF#OTC">MRAAF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRAAY#OTC">MRAAY</a>), a key manufacturer of multilayer ceramic capacitors (MLCCs), had to shut down a vital factory due to the resurgence. It was utilizing the other plants to make up for the production loss.</li>
	<li>&nbsp;Malaysia&#39;s&nbsp;Taiyo Yuden Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TYOYY#OTC">TYOYY</a>) had to reduce production capacity to 80% - 85% of total following a government mandate.</li>
	<li>MLCCs offer storage capacity for electrical energy leading to higher performance in tight spaces like the inside of a phone. Southeast Asia, Japan, South Korea, China, and Taiwan, which mainly account for the manufacture of MLCCs, have been severely impacted by the pandemic&#39;s latest variant.</li>
	<li>Earlier smartphones needed a few hundred components, while a smartphone with high-speed 5G data service contains more than 1,000. The same is the case for EVs.</li>
	<li>&nbsp;Samsung Electro-Mechanics Co and Murata&#39;s MLCC factories in the Philippines also remain vulnerable due to the country&#39;s rising cases.</li>
	<li>Interestingly, Taiwan&#39;s&nbsp;Yageo Corp&#39;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/YAGOY#OTC">YAGOY</a>) plants in China and Taiwan are ready to ramp up the volume and handle rush orders.</li>
	<li>Price Action:&nbsp;SONY shares closed lower by 0.76% at $102.47 on the last check Monday.</li>
</ul>

<ul>
	<li>Apple Inc&rsquo;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) iPhone assembler&nbsp;Hon Hai Precision Industry Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hnhaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HNHAF</a>), also known as&nbsp;Foxconn Technology Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/fxcof#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FXCOF</a>), joins the likes of&nbsp;Sony Group Corp&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sony#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SONY</a>) and&nbsp;Stellantis NV&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/stla#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">STLA</a>) to expect the semiconductor chip crisis to aggravate in Q2 after battling the crisis to report a quarterly profit beat,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-05-14/hon-hai-s-profit-beats-estimates-defying-component-shortages?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
	<li>Hon Hai reported $1 billion (NT$28.2 billion) in net income during the March quarter, beating the analyst consensus of NT$24.4 billion. It expects steady upcoming quarter guidance from growth in its consumer electronics and components divisions offset by a slowdown in its server and computer divisions partly due to the crisis.</li>
	<li>Chairman Young Liu reiterated the crisis persistence until Q2 2022 with a business impact of 10%.</li>
	<li>Last month, Liu had talked about the aggravation of the component scarcity since late March, with the lead time for some parts extending to 52 weeks.</li>
	<li>This month, Hon Hai agreed to set up a joint venture with&nbsp;Yageo Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/yagoy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YAGOY</a>) to develop chips at an average selling price below $2.</li>
	<li>This JV will assist Hon Hai&rsquo;s ongoing business transformation into semi/auto business to drive content value with margin expansion based on BofA analysts. The company&rsquo;s robust Q1 and April sales reflect share gain in Apple business and the server market, the analysts stated.</li>
	<li>Hon Hai&rsquo;s quarterly sales rose 44% to NT$1.35 trillion, at par with the analyst consensus from the robust demand for Apple&rsquo;s new 5G devices and other consumer gadgets.</li>
	<li>Hon Hai estimates limited impact from the component and raw material price surge and aims to reach gross margins of 7% this year.</li>
	<li>Price action:&nbsp;HNHPF closed higher by 3.58% at $7.53 on Friday.</li>
</ul>

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