Nasdaq Composite Live: Indices Rise Slightly Ahead of Jackson Hole
After a rough few days, the major indices are in the green this morning. Nasdaq futures are up 36. Dow futures are up 124, with the S&P 500 up about 12 points. All as markets wait to hear what Fed boss Jerome Powell has to say about interest rates moving forward. Last checked, there’s now a 75% chance of a quarter-point cut by September. “I think the Fed and what Powell is going to try to articulate and communicate is an explanation and a justification for the Fed to start a process of cutting interest rates starting in September,” Morgan Stanley Investment Management’s Jim Caron told CNBC. “And I think that should be supportive for markets.” Shares of Cracker Barrel Just Lost $200 Million of Value Shares of Cracker Barrel lost about $200 million of their value after releasing its new logo, which eliminates the drawing of an overalls-clad man leaning against a barrel. Now, the logo will just feature the chain’s name, which isn’t sitting well with diners or investors. Plus, according to the company’s site, “This year we even unveiled a brand-new logo! Rather than just showing one person, we wanted to feature lots of people. The idea was to celebrate the diversity of all our guests with a logo that represented our continued passion for pleasing people of all races, colors, and genders.” For some investors, the change is a “Bud Light” moment with heavy backlash. Still, keep an eye on the Cracker Barrel (CBRL) stock. Once the pullback over a brand logo change is over, we do expect it to regain lost ground – especially if earnings can remain as strong as they have been. The AI Party isn’t over, says Wedbush’s Dan Ives The AI party is far from over, despite fears of a bubble, according to Wedbush’s Dan Ives. “Ives said that, although some names in the AI sphere — such as OpenAI CEO Sam Altman — have warned of overexuberance from investors about the technology, in his view, ‘the AI party … started at 9 pm. It’s now 10 pm. That party goes to 4 am,” as quoted by CNBC. With that, Ives still believes tech heavyweights, such as Microsoft, Amazon, Google, Nvidia, Tesla, and Meta, will be some of the top standout winners. The post Nasdaq Composite Live: Indices Rise Slightly Ahead of Jackson Hole appeared first on 24/7 Wall St..
