MRKT MATRIX: August 8, 2024

Today’s Top Stories:

• S&P 500 notches its best day since 2022 as Wall Street claws its way back from Monday’s rout (CNBC)

• Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market (CNBC)

• Eli Lilly’s second quarter eases Zepbound pricing fears and suggests it’s making headway in weight loss race (CNBC)

• JPMorgan raises odds of US recession by year end to 35% (Reuters)

• Can Fed Officials Still Nail the Landing? As Rate Cuts Near, It’s a Moment of Truth. (NYT)

• Mortgage Rates in US Plunge to the Lowest Level Since May 2023 (Bloomberg)

• The ‘boring’ parts of the market are thriving right now (CNBC)

• What Works in Taiwan Doesn’t Always in Arizona, a Chipmaking Giant Learns (NYT)

• China’s Sales of EVs, Hybrids Surpass Conventional Cars in July (WSJ)

Today’s MRKT Call is Presented by FactSet

BTFD Is Back In Markets!

Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Thursday, August 8th.

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