CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US Open: Wall Street opens higher driven by AI and Tech sector 📌

14:57 10 July 2024
  • Indexes record moderate increases at the opening
  • The dollar slightly weakens
  • Yields are also falling

At the opening of today's cash session, Wall Street indexes are opening slightly higher, deepening yesterday's record gains following Jerome Powell's speech in Congress. The US500 gains 0.20% to 5640 points, and US100 0.25% to 20730 points. The gains are driven by a weakening dollar and falling yields of U.S. bonds. Among the companies recording the biggest gains in the US500 index are once again leaders from the semiconductor sector and the so-called Mag7.


  • Taiwan Semiconductor Manufacturing (TSMC) gains after a report of a significant sales increase, with June revenues up 33% year-over-year to about $6.38 billion. This growth confirms high demand for chips indicating a positive impact on other chip manufacturers, such as Advanced Micro Devices, Intel, and Arm.

  • PwC has started laying off at least 100 employees from various teams in China after a significant decline in clients.

  • Intuit is laying off about 1800 employees to focus on artificial intelligence. The company plans to hire roughly the same number in engineering, product, and customer service positions, reported by Fortune.

  • 3M Co.’s CFO Monish Patolawala resigns from the CFO position to take the same role at another company.

  • This Friday will kick off the quarterly earnings season in the USA with bank results. Investors are expecting a potential revival in Net Interest Income (NII) in the second half of the year. Current results are anticipated to show a second consecutive drop in NII.


The index quotes set new historical highs at the close of yesterday's cash session. Today, contracts also slightly gain to 5650 points. However, investors' attention is focused on tomorrow's CPI report from the USA and Friday's bank results. The end of the week could potentially be nervous, leading to greater volatility in the stock market.

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Source: xStation 5


Company News

Baidu (BIDU.US) gains over 5.70% after Beijing announced support for integrating robotaxis into car rental and ride-hailing fleets. The company operates the Apollo Go robotaxi, currently deployed in Wuhan, with plans to expand. Despite requiring autonomous vehicles to have on-board drivers or remote interception, Baidu anticipates rolling out 1,000 robotaxis in Wuhan and expects profitability by 2025.

Aehr Test Systems (AEHR.US) gains 26% following their announcement of better-than-expected preliminary fiscal fourth-quarter results. The company reported substantial earnings and revenue surpassing both consensus and their forecasts. The CEO expressed optimism for increased bookings and contributions from silicon carbide to future revenues.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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