On Tuesday, the Dow Jones Industrial Average saw an increase after the Commerce Department published its retail sales report. Early in the trading day, Intel (INTC) experienced a significant rise following the announcement of an expanded agreement with Amazon Web Services, a subsidiary of Amazon.com (AMZN).
After the market opened, the Dow Jones Industrial Average rose by 0.2%, with the S&P 500 also gaining 0.3%. The Nasdaq composite, known for its tech-heavy focus, saw a 0.6% increase.
The 10-year Treasury yield slightly decreased to 3.61% on Tuesday morning, while oil prices paused their recent rebound, edging higher to around $70.20 per barrel for West Texas Intermediate futures.
Intel surged nearly 3% after revealing a new collaboration with Amazon Web Services, which includes the production of an AI chip and custom Xeon chip. This partnership is based on the existing relationship between the two companies for the production of Xeon Scalable processors for AWS.
Looking ahead, the Federal Reserve’s two-day policy meeting began on Tuesday, leading up to an interest rate decision on Wednesday. The upcoming announcement may signal the first rate cut since the start of the Covid pandemic in March 2020.
Retail sales data for August showed growth of 0.1% month-over-month, surpassing expectations of a 0.3% decline. Excluding vehicles and gas, sales saw a 0.2% increase.
Stocks like Costco Wholesale (COST), DoorDash (DASH), and Taiwan Semiconductor Manufacturing (TSM) are among the companies to watch in the current market. The Dow Jones components, including Amazon.com, Apple (AAPL), Home Depot (HD), and Microsoft (MSFT), are also noteworthy.
In analyzing the stock market today, it’s essential for investors to track these developments and the performance of key players like Alphabet (GOOGL), Nvidia (NVDA), Tesla (TSLA), and other leaders in the market. Staying informed about market trends and individual stock movements can help investors make data-driven decisions.
