MARKET WRAP

Nvidia shares rebounded today, rallying 6.76% after dipping into correction territory. The move pushed the major indices higher.

The S&P 500 was up 0.39% and the Nasdaq Composite was up 1.26%.

Other big movers include the cruise lines. Carnival, Norwegian, and Royal Caribbean were up 8.72%, 5.11%, and 4.02%, respectively. This comes after Carnival beat earnings expectations.

Conversely, Pool Corporation fell 8.04%, taking homebuilding stocks down with it after slashing its outlook.

Technology was the best-performing sector, up 1.7%, and Real estate was the worst-performer, down 1.33%

MRKT MATRIX: June 25, 2024

Today’s Top Stories:

• S&P 500, Nasdaq rise as Nvidia rebounds (CNBC)

• US Consumer Confidence Declines on Weaker Outlook for Economy (Bloomberg)

• This Homebuying Season Is the Worst in More Than a Decade (Barron’s)

• Housing market to remain ‘stuck’ until at least 2026, Bank of America says (CNBC)

• Target Announces Return of Target Circle Week July 7-13 with Savings Up to 50% Off Thousands of Items (Target)

• Top Federal Reserve official warns US central bank may need to raise interest rates again (FT)

• Companies are repurchasing stock at record levels. Here are the buyback kings (CNBC)

• There may be a comeback trade opportunity in Ford emerging, according to top analyst Jonas (CNBC)

• Tesla Recalls Thousands of Cybertrucks Over Trunk, Wiper Issues (WSJ)

• Microsoft Accused by EU of Antitrust Breaches. Why Teams Is Becoming a Flashpoint. (Barron’s)

• Gold Is Near Record Highs. Financial Advisors Still Recommend It. (Barron’s)

Today’s MRKT Call is Presented by SoFi

Strange Things Happening in the Stock Market

Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Tuesday, June 25th.

Click here to access all of the charts mentioned in today’s MRKT Call.

Timecodes

• 0:00 - Nvidia Still The Key

• 12:00 - Homebuilders

• 22:00 - The Consumer

• 26:00 - Cracks In Fast Casual

• 28:45 - Disney + Transports

• 36:00 - Audience Q&A

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