Stocks Close Higher Amid Hopes for Rate Cuts as Key Inflation Data Looms This Week; Nasdaq Hits Record High

Key Robinhood Price Levels to Watch After Monday’s Surge

24 minutes ago

Robinhood Markets (HOOD) shares soared Monday on news that the retail trading platform known for commission-free stock trading will be added to the benchmark S&P 500 index.

The stock jumped 16% to $117.28, a record closing high. Robinhood shares have more than tripled since the start of the year, lifted by a resurgence of retail trading activity in meme stocks, crypto, options and mega-cap tech stocks.

After hitting their all-time high last month, Robinhood shares had consolidated within a falling wedge, indicating a continuation of the stock’s broader uptrend.

Indeed, the price broke out from the pattern’s upper trendline on Monday. Interestingly, the stock registered its highest trading volume on Friday in over a month, suggesting ETF repositioning on anticipation of the announcement.

Bars pattern analysis predicts a potential bullish price target of around $230 and indicates a new move higher could last until December. During pullbacks in the stock, investors should watch important support levels on Robinhood’s chart near $100, $78 and $67.

Read the full technical analysis piece here.

–Timothy Smith

Can Broadcom Challenge Nvidia?

1 hr 31 min ago

Strong quarterly results from Broadcom could signal strong competition for AI heavyweight Nvidia.

Broadcom (AVGO) last week reported record quarterly sales that showed strong demand for its AI offerings and introduced a big new mystery customer reports suggested could be ChatGPT maker OpenAI. Citi analysts said the results and growing commitments from buyers—many which are also Nvidia (NVDA) customers—could suggest an estimated $12 billion hit to Nvidia’s 2026 sales. 

Citi analysts on Monday maintained a “buy” rating on Nvidia stock but trimmed their target price to $200 from $210, citing concerns about threats to Nvidia’s dominance after Broadcom (AVGO) said last week it expects demand from major Big Tech clients to shift in favor of its custom AI chips, potentially setting it up to win more market share.

Broadcom’s stock climbed more than 3% to close Monday around $346, adding to a nearly 10% jump Friday after its better-than-expected earnings. Nvidia shares ticked less than 1% higher to end today around $168 after taking a 3% hit in Friday’s session. 

“People freaked out a bit after Broadcom earnings,” Melius Research analysts led by Ben Reitzes told clients Monday. They see Broadcom as a “Magnificent 8” stock—worthy of joining the group of seven tech heavyweights—with significant room to rise.

“To be clear, we have always taken a view that Nvidia’s share of AI compute would actually fall over time as chip designers like Broadcom would gain about 30% of share and a gang of other merchants led by AMD would take at least 10%,” they said.

Melius analysts, who reiterated “buy” ratings and bullish targets of $240 for Nvidia and $415 for Broadcom, said they believe both chipmakers are likely to be winners of the rapidly growing AI computing and networking market.

Nvidia’s potential to build an Apple-like (AAPL) “ecosystem” with developers loyal to its programmable architecture may also be underestimated, they suggested, drawing parallels to the iPhone maker’s ability to sustain long-term gains even as its share of the market for smartphones declined.

If Broadcom were able to capture even 20% of an estimated $2 trillion addressable market for 2030 while Nvidia holds onto a 40% share—down from over 70% currently—both stocks “are going a heck of a lot higher,” Melius said. They see both stocks more than doubling in value the next three years.

–Kara Greenberg

Wall Street Sizes Up Recent Crypto IPO Bullish

2 hr 9 min ago

As more crypto firms hit the public markets, they are getting looked over by Wall Street’s analysts. One of the latest IPOs has some analysts feeling lukewarm—even though the shares have cooled off since trading started.

Analysts at Citi, Jefferies, and Oppenheimer on Monday all started coverage of crypto platform operator Bullish (BLSH), giving the company credit for its institutional focus, which differentiates them from rivals. However, its oversubscribed IPO and subsequent trading day pop prevented them from taking more positive stances, citing valuation.

And that’s even as shares of Bullish have fallen well off their $90 mid-August opening price—though they remain above their $37 IPO price. (The stock finished Monday down more than 4% to just over $50.)

Other crypto debuts are coming soon, with the Winklevoss twins’ Gemini Space Station expected to start trading on the Nasdaq exchange this Friday. European asset manager CoinShares, which has its own spot bitcoin ETF (BRRR), on Monday said it intends to go public via special purpose acquisition company Vine Hill Capital Investment (VCIC); the deal is set to close at the end of the fourth quarter.

As for Bullish, Jefferies initiated coverage with a “Hold” rating; Oppenheimer started at “Perform,” another neutral rating. Both firms observed the company’s “multiple” growth avenues, referring to both its digital asset platform and media operation CoinDesk.

Oppenheimer analyst Rayna Kumar wrote that while the businesses are distinct, they are also “complementary.” Jefferies’ Daniel Fannon said the company is “actively leveraging cross-sell opportunities,” with institutional trading customers offered premium data and analytics packages, while its Consensus conference attendees are “targeted” to use Bullish’s trading ecosystem.

“This cross pollination is expected to drive higher customer lifetime value, reduce churn, and foster higher growth,” he said. Jefferies has a $49 price target on the shares.

Citi’s Peter Christiansen, however, started coverage with a “buy” rating and a $66 price target. He called Bullish the “bullseye of the next crypto wave,” positioned to benefit from digital asset reform and more involvement in crypto from institutional investors and traditional financial firms. “We see Bullish at the epicenter of this movement,” Citi wrote.

–Crystal Kim

What To Expect From Thursday’s CPI Report

3 hr 11 min ago

Tariffs continued to push up prices and squeeze household budgets in August, if forecasters are right about this week’s highly anticipated inflation report.

A report from the Bureau of Labor Statistics Thursday is expected to show prices, as measured by the Consumer Price Index, rose 2.9% over 12 months in August, up from 2.7% in July, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. That would mark the highest annual inflation rate since January.

“Core” inflation, which excludes volatile prices for food and energy, is expected to have climbed 3.1% over 12 months, the same rate as in July, and tied for the highest since February.

Should the report match expectations, the data will show that inflation remains above the Federal Reserve’s target of a 2% annual rate, and is headed in the wrong direction. President Donald Trump’s tariffs, implemented earlier in the year, have raised prices as merchants pass the costs of the import taxes on to their customers.

Economists are looking for the impact of tariffs in a category of inflation called “core goods,” which measures the things people buy as opposed to services and housing. The category also excludes prices for food and energy, which can fluctuate for reasons other than inflation trends. In pre-pandemic times, prices for core goods were often flat or negative, since cheap imports pushed down the cost of things like clothes and electronics, keeping overall inflation in check. But this summer, the prices for core goods have increased, a trend that forecasters expect to continue.

“We will mainly be looking for continued signs of tariff impacts in core goods categories,” Brett Ryan, senior U.S. economist at Deutsche Bank, wrote in a commentary.

Read the full article here.

–Diccon Hyatt

What You Need to Know About StubHub’s IPO

4 hr 4 min ago

StubHub is braving the new listings markets again.

The online ticketing reseller’s planned IPO will be a test of whether the booming initial public offering market extends beyond high-profile tech and crypto firms—in part because the company earlier this year delayed its own listing plans after President Donald Trump’s “Liberation Day” tariffs announcement roiled markets.

The company, which intends to list on the New York Stock Exchange under the symbol “STUB,” said Monday that it plans to sell more than 34 million shares at between $22 and $25 each, raising $850 million at the top end of the range. 

StubHub in its Form S-1 filing with the Securities and Exchange Commission said that it would have nearly 373 million shares outstanding after the IPO, assuming an overallotment option is fully exercised. That would translate to a market capitalization over $9.3 billion if the IPO is priced at the top of the range.

Like BNPL firm Klarna, StubHub is reviving an IPO plan that was pulled in April. StubHub had reportedly shelved an even earlier attempt last summer because of weak market conditions in a deal that would have valued it as much as $16.5 billion, according to CNBC. Both Klarna and Gemini, the crypto firm founded by Cameron and Tyler Winklevoss, are expected to go public this week.

The market has been booming for tech-linked and crypto IPOs, with shares of design software platform Figma (FIG) more than tripling on its debut at the end of July and shares of Peter Thiel-backed crypto exchange Bullish (BLSH) soaring on their debut last month.

U.S. IPOs have so far this year raised more than $40 billion, according to according to Dealogic data, the highest since the same period in 2021, when it hit a record $229.51 billion.

StubHub said that it had a $76 million net loss in the six months of 2025 on revenue of $872.9 million, wider than the $24 million loss it posted the same period last year on revenue of $803.5 million. 

The company was launched in 2000 by CEO Erik Baker and Jeff Fluhr, and was bought by eBay (EBAY) in 2007 before being sold back to Baker in 2019. It cites “intense competition” among its risk factors, in no small part because Ticketmaster operator Live Nation Entertainment (LYV) has a market value approaching $38 billion, according to Visible Alpha data.

–Nisha Gopalan

Why QuantumScape is Up About 20% Today

5 hr 31 min ago

If you’ve been waiting for another lively day in trading of QuantumScape’s stock, your wait is over.

Shares of QuantumScape (QS), which is developing batteries for electric vehicles, were recently up 20% to around $9.50. They still have a way to go to reach summer highs—in July they closed above $14—but the move is welcome news to investors who were wondering what might be next after watching the stock’s summer spike, which at the low end saw the shares back below $8.

Today’s move was powered by the news that the company, along with Volkswagen’s battery company PowerCo, demonstrated its solid-state lithium-metal batteries in a Ducati motorcycle at an event in Germany. QuantumScape said it is now poised to “scale our transformative technology to gigawatt-hour production.”

Broadly speaking, solid-state batteries are seen as offering a longer-lasting, safer, and quicker-to-recharge alternative to current batteries. “We are now firmly in the commercialization phase of our company,” executives said in July.

The company’s July update likely inspired some investors to take profits after a wild runup from closing prices below $4.50 in late June; it included a pullback in the high end of its estimated capital spending range for the year, perhaps contributing to some wariness on shareholders’ parts, though it also turned more optimistic about the depth of full-year adjusted EBITDA losses.

A big chunk of that wariness seems to have worn off today.

–David Marino-Nachison

Traders Pricing in Higher Odds of Rate Cuts This Year

6 hr 3 min ago

Market participants are increasing their bets that the Federal Reserve will make multiple cuts to its benchmark interest rate by the end of the year.

Traders now see a 100% likelihood that the Fed will cut the rate at least a quarter point during its policy meeting next week, according to the CME Group’s FedWatch tool, which forecasts movements of the federal funds rate based on fed funds futures trading data. That’s up from the 86% chance that was being priced in a week ago.

The increased expectations are even more evident in fed funds contracts for later in the year.

Traders now see about an 84% likelihood of another rate cut at the late-October Fed meeting, compared to the 48% chance seen a week ago. The FedWatch tool shows about a 77% likelihood of a third rate cut in December, versus 40% just a week ago.

Weaker-than-anticipated employment numbers have boosted rate-cut expectations in recent days, and traders will be looking to inflation numbers this week to further strengthen the case that the Fed policy shift is likely. The central bank has held its key rate steady throughout 2025, after slicing it by a full percentage point in late 2024.

Forward Industries Pivots to Crypto Treasury. Its Stock Soars

7 hr 29 min ago

Forward Industries (FORD) shares soared Monday as the provider of design services for the medical and technology sectors became the latest company to completely shift its business into becoming a cryptocurrency treasury.

Forward Industries announced it was receiving a $1.65 billion investment to “initiate a Solana-focused digital asset treasury strategy,” which it said aligns it “with the fast-growing Solana ecosystem.” 

The company said that the funds were coming through a private investment in public equity (PIPE) offering led by Galaxy Digital (GLXY), Jump Crypto, and Multicoin Capital. It added that one of its biggest shareholders, C/M Capital Partners, is also participating. 

CEO Michael Pruitt said that the new strategy “underscores our conviction in the long-term potential of SOL and our commitment to building shareholder value by directly participating in its growth.”

The company noted that upon the closing of the PIPE, Multicoin Capital co-founder and Managing Partner Kyle Samani is expected to become Chair. 

Forward Industries shares were up 40% in recent trading after nearly doubling earlier in the session.

Just last month, the biotech company formerly known as 180 Life Sciences announced it was shifting its business to an Ether treasury and changed its name to ETHZilla (ETHZ). Similarly, Strategy (MSTR) has adopted a Bitcoin treasury strategy and has become the largest corporate holder of the biggest cryptocurrency. 

–Bill McColl

EchoStar Stock Jumps as Firm Sells Spectrum to SpaceX

8 hr 29 min ago

EchoStar (SATS) shares surged Monday as the DISH TV and Boost Mobile operator sold some spectrum licenses to Elon Musk’s rocket and satellite company SpaceX for about $17 billion. It’s the second such major deal in two weeks as the company moved to alleviate pressures from federal regulators.

EchoStar said the deal for its AWS-4 and H-block spectrum allocations included $8.5 billion in cash and up to $8.5 billion in SpaceX stock. In addition, SpaceX will pay $2 billion worth of interest on EchoStar’s debt through November 2027.

EchoStar will also gain access to SpaceX’s next-generation Starlink Direct to Cell service for its Boost Mobile subscribers.

CEO Hamid Akhavan said that teaming with SpaceX would allow the company to realize its vision of providing direct-to-cell satellite connectivity for consumers. 

Late last month, EchoStar sold $23 billion worth of low- and mid-band spectrum licenses to AT&T (T). The company noted today that it believes that agreement, along with the SpaceX one, “will resolve the Federal Communications Commission’s (FCC) inquiries.” Officials launched an investigation in May over whether EchoStar was meeting certain requirements for its wireless and satellite rights. President Trump eventually became involved, calling on the two sides to find a resolution.

EchoStar shares were up 18% in recent trading. The stock has gained nearly 250% since the start of the year.

–Bill McColl

Robinhood, AppLovin Soar on News of S&P 500 Inclusion

9 hours ago

Three new companies will join the S&P 500 later this month.

Trading platform Robinhood Markets (HOOD) and mobile app monetization company AppLovin (APP) are set to join the benchmark index on Sept. 22, according to S&P Dow Jones Indices, part of a quarterly rebalancing.

They will replace Caesar’s Entertainment (CZR) and MarketAxess Holdings (MKTX), respectively. Emcor (EME), meanwhile, will take the place Enphase Energy (ENPH).

Shares of Robinhood and AppLovin were each up about 13% in early trading Monday, while Emcor shares inched higher.

Leading up to the decision, investors engaged in a favored niche pastime: trying to guess—and, perhaps, trade ahead of the news—what the picks might be. Robinhood and and Applovin were popular suggestions; so was bitcoin treasury company Strategy (MSTR), which didn’t make the cut.

S&P Dow Jones Indices has in recent months changed companies both for company-specific business reasons—in August, for example, it tapped Interactive Brokers (IBKR) to replace Walgreens Boots Alliance (WBA) with the latter set to be taken private later this year, while Block (XYZ) joined earlier this summer after Hess was acquired—and as part of its periodic rebalancing efforts.

The S&P 500 rebalancing process takes place quarterly—in March, June, September and December—though no changes were announced in June.

Stocks of companies included in the S&P 500 can benefit because it exposes them to a wider group of investors who could become aware of them through an index. In addition, they can be added to various index funds that track stocks that are part of the S&P 500.

Caesar’s, Enphase and MarketAxess will join the S&P SmallCap 600, S&P Dow Jones Indices said.

–David Marino-Nachison

Major Index Futures Point to Slightly Higher Open

10 hr 18 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%.

S&P 500 futures rose 0.2%.

Nasdaq 100 futures added 0.3%.