US stocks close | US PCE inflation cools down, S&P Nasdaq falls but Dow hits new high; China concept index surges 24% for the whole week, jd.com hits fourteen-month high.
US PCE inflation cooling solidifies the confidence of the Fed in rate cuts, but US stocks fell in the afternoon, with nvidia dropping nearly 4% at one point. China's stimulus policies drove the Chinese concept index up by 4%, nio inc rose by nearly 13%, pan-European stock indexes and German stocks hit new highs for two consecutive days, luxury goods stocks rose again. The Dow, S&P, and Nasdaq have all risen for three consecutive weeks, with two China-focused ETFs achieving the best weekly gains in history.
Semiconductor Down 8% After CFO Resigns
Express News | Navitas Semiconductor- Appointment of Todd Glickman as Interim Chief Financial Officer and Treasurer, Effective Oct 4
Navitas Qualifies Leading-edge Gen-3 Fast SiC to Auto-grade (Q101)
Shares of Semiconductor Stocks Are Trading Lower Amid Overall Market Weakness. A Drop in the Price of NVIDIA May Weigh Down the Sector.
Have Navitas Semiconductor Insiders Been Selling Stock?