Wall Street, tech
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Wall Street, Caterpillar Stock
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The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.
The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was down 1%.
“The stock price reflects that there won’t be change when change is needed,” Gerald Storch, former vice chairman of Target and ex-CEO of Toys R Us, told The Post. “The sales are negative and they are bleeding market share.” Target did not immediately respond to The Post’s request for comment.
But investors aren't all on board: Some Wall Street analysts remain bearish on the stock. Morgan Stanley analysts, for example, rate PLUG stock as a sell with a price target of just $0.75 -- roughly 50% below the current share price.
Jim Cramer, the popular host of the CNBC shows "Mad Money" and "Squawk on the Street," is well-known for dropping his hot take on the trending stocks. Whether it's the manufacturing sector or the technology sector, nothing escapes his close scrutiny.
Wall Street's main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole.
XPeng stock rose after the Chinese electric-vehicle maker delivered 103,181 cars in the second quarter, up 242% year over year.
The stock market’s record rally is showing early signs of broadening beyond Big Tech as investors rotate into lagging sectors, but strategists warn its durability hinges on earnings and Fed policy.