MARKET WRAP

A whipsaw day on Wall Street as stocks clawed back from an earlier selloff. 

The S&P 500 was up 1.07%, the Nasdaq gained 2.17% and the Dow recovered from a nearly 750-point loss to close the day higher by 0.31%. 

CNBC notes that investors picked up shares of mega-cap tech and semiconductor names in afternoon trading. Nvidia gained 8% after comments from its CEO, AMD added nearly 5%, and the VanEck Semiconductor ETF gained 5%.

Technology was the best-performing sector, up around 3%, meanwhile, Consumer Staples was the biggest laggard, down 1%.

MRKT MATRIX: September , 2024

Today’s Top Stories:

• Nasdaq climbs more than 1.5% as Wall Street bounces back from inflation report sell-off (CNBC)

• Nvidia Stock Pops 7% As CEO Huang Touts Demand For Chips (Forbes)

• Here’s the inflation breakdown for August 2024 — in one chart (CNBC)

• A Recession Signal Is Flashing Red. Or Is It? (WSJ)

• Rate Cuts Won’t Quickly Ease Strain on Consumers (Bloomberg)

• Mortgage rates hit lowest level since February 2023 (CNBC)

• Novo Nordisk experimental obesity pill has mild-to-moderate side effects in trial (Reuters)

• Bitcoin could soon hit six figures regardless of who wins U.S. election, investors say (CNBC)

Today’s MRKT Call is Presented by SoFi

How Deep Will The Fed Cut?

Guy Adami and Danny Moses break down the top market headlines and bring you stock market trade ideas for Wednesday, September 11th.

Timecodes

• 0:00 - Today's Action

• 13:00 - Banks/Financials

• 20:00 - Oil/Energy

• 26:00 - Audience Q&A

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