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<ul class="summary-list"><li>US indexes fell steeply Tuesday as weak manufacturing data prompted fresh fears about the economy. </li><li>The ISM Manufacturing index failed to meet expectations, and investors are now awaiting August jobs data. </li></ul>Stocks plunged Tuesday as manufacturing data chipped at confidence in the US economy.The <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> and <a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a> shed 2% and 1.5%, respectively. The tech-heavy Nasdaq tumbled over 3%, as a sharp drop in <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> compounded the index's decline.Tuesday's fallout marks the worst day for stocks since the market meltdown in early August and offered a grim introduction to September, which is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-season-fed-cuts-election-investing-2024-8?mrfhud=true">historically a bad month for the stock market</a>. A weak manufacturing print intensified pressure on Tuesday's sell-off, as the ISM Manufacturing Purchasing Managers Index failed to meet expectations. The index rose 47.2% in August, under 47.9% consensus forecasts."Manufacturing employment shrank for the third consecutive month as manufacturing activity slowed in recent months. Although the manufacturing sector holds a smaller portion of the macro economy now than in previous cycles, investors should still position themselves for a broader slowdown throughout the balance of this year," LPL Financial chief economist Jeffrey Roach said.As wavering manufacturing activity amplifies fears that the US may be facing a cooldown, investors have more reason to hope for a strong payrolls report on Friday.All eyes are on this jobs print, and any surprise in the labor data could make or break the soft landing narrative.Currently, economists anticipated that the US added 162,000 jobs last month, which suggests that the unemployment rate will edge down modestly from 4.3% to 4.2%.If forecasts are correct, the Federal Reserve should be able to cut interest rates by a gradual quarter point in its upcoming September meeting. But a weaker-than-expected payrolls print would prompt the bank to slash rates by more than the market is currently pricing in.Non-equity assets also suffered on Tuesday. While oil prices tumbled, the 10-year Treasury yield shed six points to 3.846%. Investors may need to brace for more volatility ahead, as September is famously a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-season-fed-cuts-election-investing-2024-8?utm_medium=ingest&amp;utm_source=markets">challenging month for stocks</a>.Here's where US indexes stood shortly after the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,528.93, down 2.12%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,936.93, down 1.51% (-626.15 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,136.30, down 3.26%</li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-prediction-nvda-sell-stock-market-inflation-rates-outlook-2024-9">Nvidia is flashing a sell signal,</a> veteran strategist Bill Blain warns.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-outlook-election-rate-cuts-jobs-tom-lee-2024-9">Stocks are set to drop as much as 10% in the next 8 weeks</a>, Fundstrat's Tom Lee warns.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/gold-price-outlook-buy-continued-rally-next-year-2025-goldman-2024-9">3 reasons to buy up gold ahead of a 2025 rally</a>, Goldman Sachs says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/fed-interestrate-cuts-stock-market-bull-run-upside-outlook-jpmorgan-2024-9">Investors might be overestimating how far stocks will reach when the Fed cuts rates</a>, JPMorgan says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-prediction-yen-carry-trade-bank-of-japan-rates-2024-9">Last month's stock market turmoil could repeat once rates rise in Japan</a>, Societe Generale says.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil shed 4.38% to $70.33 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, plummeted 4.86% to $73.75 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> stayed essentially flat at $2,523.1 an ounce.</li><li>The 10-year Treasury yield dropped six points to 3.846%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> shed 0.66% to $58,077.</li></ul>

Stock market today: Nasdaq drops 3% as weak manufacturing data renews US growth fears

New Delhi [India], July 12 (ANI): The <keyword id="20025828" type="General" weightage="20" keywordseo="two-wheeler-sales" source="keywords">two-wheeler sales</keyword> in India in June registered a growth of 21.3 per cent year-on-year (Y-o-Y), highlights the sales data released by the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM) on Friday. The data highlighted that in June the total sales of the two wheelers were recorded at 16,14,154 units which is a 21.3 per cent increase from 13,30,826 two wheeler sold in June 2023. The sales of the scooters also surged to a record 42 per cent Y-o-Y in June to 5.4 lakhs, last year in June it was at 3.8 lakhs. The sales of Bikes also registered two-fold growth with sales increased by 11 per cent in June to 10.3 lakhs as compared to 9.1 lakh last year during the same period. The <keyword id="20028264" type="General" weightage="20" keywordseo="passenger-vehicle-sales" source="keywords">passenger vehicle sales</keyword> also registered a growth of 3 per cent Y-o-Y in June. The total passenger vehicle sales during June stands at 3,37,757 units, it was 3,27,788 units during June 2023. The sales of <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword> surged twofold by an increase of 12.3 per cent, according to the data total 59, 544 units of three wheelers were sold in June 2024 as against 53, 025 units sold in June 2023. The sales data for June demonstrates a positive outlook for the Indian <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword>. The substantial growth in two-wheeler sales, particularly scooters and motorcycles, along with the steady increase in passenger and three-wheeler sales, reflects a resilient and expanding automobile market in India. Earlier in May, the sales of passenger cars dropped by over 11 per cent, according to the data by the Society of Indian Automobile Manufacturers (SIAM). The domestic sales of passenger cars also slipped 11 per cent from 1,20,364 units in May 2023 to 1,06,952 units in May 2024. The auto companies also reduced the production of passenger cars by 13 per cent, from 1,63,619 units in May 2023 to 1,42,367 units 2024. Export of passenger cars too saw a drop of about 20 per cent from 35,806 units in May 2023 to 28,802 units in May 2024. However, the sales number of June showed the positive signs of growth in the automobile industry.

Auto sales see a positive trend in June, two-wheeler sales register 21% annual growth: SIAM data

<ul class="summary-list"><li>Trump's tariff threats may boost Chinese exports as importers rush to beat tariffs.</li><li>Trump's proposed tariffs could lead to increased global manufacturing activity temporarily.</li></ul>US President-elect Donald Trump may be good for China's export business — at least temporarily.Trump, who <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">won</a> the presidential election, has pledged to impose sweeping tariffs of 10% to 20% on imports to the US. He has threatened a 60% tariff on imports from China.His tariff threats are causing <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tariffs-threats-world-ceos-thoughts-trade-2024-11">jitters</a> around the world. With Trump set to take office on January 20, factories globally may be working overtime to ship out as much as they can before any potential tariffs kick in, economists say."There could be real front-loading of activity ahead of the enacting of tariffs," said Joe Lupton, a senior global economist at JPMorgan, on a <a target="_blank" class="" href="https://markets.jpmorgan.com/research/email/scx/-miq4i59/b3efe732-ef66-49ae-ad3d-5390f5279831/KAL-1-87CAN94L">podcast</a> over the weekend."Just as businesses try to get ahead of that, you could actually see a little bit of pop in global manufacturing, China manufacturing, as we head into the first quarter," he added.The demand for imports, including those from China, could also come from the US itself."Trump's return could create a short-term boost to Chinese exports as US importers increase their purchases to get ahead of the tariffs," wrote Zichun Huang, a China economist at Capital Economics, in a Thursday note.Some of the front-loading may already be taking place.Exports from China grew 12.7% in October from a year ago — their fastest pace in two years and far higher than their 2.4% rise in September, according to official data. Several major ports in China faced delays in September due to a <a target="_blank" class="" href="https://worldwidelogisticsltd.com/2024/09/18/6908/">major typhoon</a> and the backlog spilled in October.<h2 id="194ec862-e0b6-4683-b8c7-95de349dd1e3">Exports could dip with focus on trade deficits</h2>Any a temporary boost in trade would just be that: temporary.Asian export growth could still dip into the negative zone in the second half of next year amid Trump's focus on reducing US bilateral trade deficits, wrote economists at Nomura in a Friday note.Six of the top 10 countries that run deficits with the US are Asian countries, including China, Vietnam, Japan, South Korea, and India."Higher US tariffs on Chinese exports could re-direct those exports into Asia, hurting local production," wrote the Nomura economists."More tit-for-tat trade retaliation, trade policy uncertainty and delayed policy easing in some Asian economies will also likely spill into domestic demand," they added.

Global manufacturing is poised for a temporary boom ahead of possible Trump tariffs, economists say

<ul><li>The sale of cars declined in Q2 as per <keyword id="22385027" type="General" weightage="20" keywordseo="SIAM-data" source="keywords">SIAM data</keyword>.</li><li>Good carriers and <keyword id="22337322" type="General" weightage="20" keywordseo="light-commercial-vehicles" source="keywords">light commercial vehicles</keyword> also reported a decline in Q2.</li><li>Two-wheeler sales continued to grow, with both scooters and motorcycles reporting growth.</li></ul>Sales of cars in the country saw a significant decline in the second quarter of FY25, as highlighted by the latest sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday. The slowdown in sales was not limited to passenger cars alone. There has also been a decline in sales of <keyword id="23540336" type="General" weightage="20" keywordseo="goods-carriers" source="keywords">goods carriers</keyword>, which dropped by 15.8% during the same period. In the second quarter of this year, 69,514 goods carriers were sold, down from 82,538 units in the corresponding period last year. <div type="Article" hostid="261" msid="113925972" title="September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors" mstype="2" mssubtype="0"></div> Light commercial vehicles (LCVs) also experienced a notable dip in sales. The segment saw a decline of 10.2% in the second quarter of FY25 compared to the previous year. Between July and September 2024, 1,26,370 light commercial vehicles were sold, compared to 1,53,927 units in the same period last year. This drop across different segments of the auto industry reflects the challenges the sector faces during the current fiscal year. Two-wheeler sales showed a more positive trend. Scooter sales recorded a growth of 16.9% in the second quarter, with a total of 18.32 lakh units sold compared to 15.67 lakh units in the same period last year. Motorcycle sales also increased by 10.2%, reaching 32.09 lakh units compared to 29.13 lakh units in the year-ago quarter. On the other hand, the electric rickshaw (E-rickshaw) segment saw a sharp decline in sales. E-rickshaw sales dropped by 30.7% in the second quarter, with only 7,227 units sold compared to 10,430 units in the same quarter last year. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-series-allows-users-to-wirelessly-restore-the-firmware-using-an-iphone-or-ipad/articleshow/113455048.cms">iPhone 16 series allows users to wirelessly restore the firmware using an iPhone or iPad</a>

Substantial drop in sales of cars, goods carriers and light commercial vehicles in Q2: SIAM

In today’s customer-centric market, businesses must align product design, processes, and delivery with the needs of the customers. However, the manufacturing sector faces several challenges, including extended time to market, wastage,and design inefficiencies. Other key challenges include maintaining operational efficiency while reducing downtime. Ensuring that the product meets the required quality standards is time-consuming and expensive. In a competitive marketplace, these issues can hinder the success of a business. While technologies like Artificial Intelligence (AI), Robotic Process Automation (RPA), Machine Language (ML), etc., have addressed many of these challenges, there is still room for improvement. Enter <keyword id="14248037" type="General" weightage="100" keywordseo="digital-twin-technology" source="Orion">digital twin technology</keyword>: the key to <keyword id="3108381" type="General" weightage="20" keywordseo="smart-manufacturing" source="Orion">smart manufacturing</keyword>! Digital twin technology has rapidly gained popularity across various industrial sectors! , Infact, the global digital twin market, <a href="https://www.fortunebusinessinsights.com/digital-twin-market-106246">valued </a>at $12.91 billion in 2023 is expected to grow at a compound annual growth rate (CAGR) of 39.8% from 2023 to 2032. A 2022 report by Research and Markets highlights that 60% of executives across diverse industries plan to integrate digital twin technology in their projects to boost revenue. But why is digital twin technology making huge strides in the industrial sector? Let’s explore the details of this path-breaking technology! <h2>What is digital twin technology?</h2>A digital twin is essentially the virtual representation of physical products during different stages of their lifecycle. This can include real devices, objects, machines, services, intangible assets, and more. By connecting virtual models to their real devices, digital twins provide a detailed and dynamic representation of the physical objects they emulate. Continuous data transmission ensures that the virtual models remain in sync with the real objects. <h2>How does the digital twin make manufacturing smart?</h2>In manufacturing digital twins can be generated for various real-life scenarios like assets, specific production lines, end products, etc. These digital representations offer deep insights and visibility into production processes. Manufacturing involves a complex network of processes and products with several data points. These data points describe products, assets, entire lines, processes, etc. The digital twin replicates the manufacturing operations to capture, map, and structure the process variables in a continuously updated database. <h2>Technologies used in digital twin deployment</h2><ul><li>Internet of Things (IoT): IoT sensors enable continuous data transmission. </li><li>Cloud computing: Helps in storing large volumes of data that can be accessed by various stakeholders. </li><li>AI: AI gathers data and provides valuable insights. AI also makes accurate forecasts. </li><li>Extended Reality (XR): XR technology facilitates digital modelling of physical objects and processes. </li></ul><h2>Benefits of the digital twin in manufacturing</h2>1. Risk mitigation Businesses can test and validate a product before physical production begins. This helps identify potential process failures early and mitigates risks by simulating various scenarios. 2. Facilitates predictive maintenance The data provided by the simulation model helps identify the bottlenecks in the system. It helps in scheduling preventive maintenance accurately which lowers maintenance costs and boosts production line efficiency. 3. Real-time monitoring and control One of the biggest challenges in manufacturing is getting an in-depth view of the system in real time. A digital twin helps overcome this challenge by facilitating remote monitoring and control of the process by providing real-time data. 4. Seamless collaboration A digital twin offers a single point of truth for different stakeholders. They can access data 24/7 and collaborate through a single platform for better outcomes. 5. Data-backed decisions Large volumes of real-time data and advanced analytics facilitate better and faster decision-making regarding the adjustments in the manufacturing system. 6. Delights customers Digital twin technology facilitates the simulation of different product variations in a virtual environment. This helps manufacturers build customised products efficiently and cost-effectively, enhancing customer experience. There was a time when physical proximity and inspection were the most effective ways to gain insights into the status of operating equipment. Digital twin technology has offered an innovative method to gain these insights by virtualising real processes/products. This innovation allows businesses to create, test, and build equipment in a virtual environment, moving to production only when the virtual model meets all criteria. This reduces waste, optimises costs, and makes manufacturing more agile, resilient, and efficient. It’s no wonder the digital twin market in manufacturing is projected to reach $48.2 billion by 2026. Disclaimer: This article is authored by Raja V., BPM Expert. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India. This article is published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>.

How digital twin technology is revolutionising smart manufacturing

<ul class="summary-list"><li>US stocks kicked the first trading day of June off with mixed trades on Monday.</li><li>Weaker-than-expected manufacturing data pushed stocks lower throughout the day.</li></ul>US stocks kicked June off with mixed trades on Monday as investors digested a new set of manufacturing data.The ISM Manufacturing index came in at 48.7%, which was below estimates of 49.6% and below last month's reading of 49.2%. Meanwhile, construction spending was down 0.1% in April, below economist expectations for a gain of 0.2%.Finally, the S&amp;P Flash US Manufacturing PMI came in at 51.3 in May, slightly ahead of the median forecast of 50.7.The mixed data led to a mixed stock market in Monday's trading session, with the Nasdaq 100 printing gains, the S&amp;P 500 about flat, and the Dow Jones Industrial Average moving slightly lower. Investors will turn their focus to the state of the US job market later this week, with job openings data to be released on Tuesday, initial jobless claims set to be published on Thursday, and the May jobs report scheduled for Friday. Economists expect 178,000 jobs to have been added to the US economy in May, about in line with the April jobs report.The sweet spot would be between 125,000 and 175,000 jobs added last month, <a href="https://markets.businessinsider.com/news/stocks/stock-market-this-week-may-jobs-report-playbook-175000-goldilocks-2024-6">according to Bank of America,</a> as it would leave the door open for interest rate cuts from the Federal Reserve without scaring investors about a potential recession. Here's where US indexes stood at the 4:00 p.m. closing bell on Monday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,283.40, up 0.11%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,571.03, down 0.3% (-115.29 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 115.29, up 0.56%</li></ul>Here's what else happened today:<ul><li><a href="https://markets.businessinsider.com/news/stocks/berkshire-hathaway-stock-down-99-stock-market-glitch-nyse-error-2024-6">A stock market glitch at the New York Stock Exchange briefly led to big stock price discrepancy errors,</a> with Berkshire Hathaway Class A shares being incorrectly down 99.97%.</li><li><a href="https://www.businessinsider.com/car-prices-falling-forecast-outlook-new-used-electric-vehicle-market-2024-6">Car prices are finally falling for both used and new vehicles, but sales have appeared to flatline,</a> according to Bank of America.</li><li><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-6500-bond-yields-rate-cuts-ai-2024-6">The S&amp;P 500 could soar 23% next year as long as Treasury yields fall and the AI momentum stays strong,</a> according to Capital Economics.</li><li><a href="https://markets.businessinsider.com/news/stocks/cathie-wood-nvidia-ark-invest-potential-gain-ai-rally-arkk-2024-5">Cathie Wood's Ark Invest missed out on a $1 billion return by selling more than 1 million shares of Nvidia</a> at prices significantly below its current level.</li><li><a href="https://markets.businessinsider.com/news/stocks/how-to-invest-2h24-stock-bond-market-playbook-rate-cut-2024-5">Bank of America says its second half of the year trading playbook for investors should include buying the dips in bonds.</a></li><li><a href="https://www.businessinsider.com/gamestop-stock-price-roaring-kitty-keith-gill-investing-markets-outlook-2024-6">GameStop stock soared after Keith Gill's Reddit account posted a screenshot</a> that suggests he owns more than $100 million worth of the video game retailer.</li><li><a href="https://markets.businessinsider.com/news/currencies/russia-frozen-assets-ukraine-war-funding-western-companies-retaliation-consequences-2024-6">Global powers are helping Ukraine by giving it money frozen from Russia.</a> That spells bad news for companies still doing business there.</li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil dropped 3.87% to $74.01 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 3.67% to $78.13 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged higher by 0.89% to $2.366/70 per ounce. </li><li>The 10-year Treasury yield dropped nine basis points to 4.40%. </li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> jumped 2.00% to $69,094. </li></ul>

Stock market today: Stocks trade mixed to kick off June after weak manufacturing data

<ul class="summary-list"><li>Stocks rose Thursday as investors digested strong retail sales data and more earnings.</li><li>Retail sales data showed US consumer spending remains robust, with monthly spending up 0.4%.</li></ul>US stocks climbed on Thursday as traders saw better-than-expected retail sales data and continued to digest strong corporate earnings reports.The Dow Jones Industrial Average added to record levels achieved at Wednesday's close. Bond yields rose, with the 10-year Treasury up six basis points to 4.075%. September's retail sales report showed consumer spending remains strong, with monthly spending up 0.4% from August, just above a Dow Jones consensus estimate of 0.3%.Retail sales climbed 1.7% compared to a year ago, according to Commerce Department data released Thursday.The strong spending data comes on the heels of a <a target="_blank" class="" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">blockbuster September jobs report</a>, and further solidifies assessments that the US economy is strong and that the Federal Reserve may not need to cut rates as steeply or quickly as previously thought. Weekly jobless claims were lower than expected at 241,000, a 19,000 decline from the week before, according to Labor Department data released Thursday. Economists had forecast 260,000 weekly claims. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,873.45, up 0.53% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,279.21, up 0.47% (+201.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,523.24, up 0.85% </li></ul>Meanwhile, a <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-stock-price-q3-earnings-chip-stocks-asml-nvidia-amd-2024-10">highly anticipated report</a> from chipmaker Taiwan Semiconductor Manufacturing Company came in strong, showing net income surpassed estimates while net revenue for the quarter rose 36% compared to the same last year."We have talked to our customers all the time, including our hyperscaler customers who are building their own chips. And almost every AI innovator is working with TSMC," TSMC chairman and CEO C.C. Wei said.Shares of TSMC rose 7% after the opening bell, pulling other chip stocks higher. Nvidia was up almost 2%, and AMD was up over 1%.TSMC's optimism about demand for AI tech follows a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10?_gl=1*1isprkj*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTE2NTYwMS4yODIuMS4xNzI5MTY3OTk1LjM0LjAuMA..">chip sector sell-off</a> earlier this week when chip machine maker ASML slashed its sales guidance on weaker demand from chipmakers.TSMC joins a string of strong earnings reports this week. Morgan Stanley and United Airlines posted strong results on Wednesday. Netflix will report third-quarter results after the close on Thursday. Here's what else is going on Thursday:<ul><li>A number of bank research desks are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-targets-bull-market-goldman-ubs-bmo-2024-10?_gl=1*njfdt3*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTE2NTYwMS4yODIuMS4xNzI5MTY2MzczLjYwLjAuMA..">boosting their S&amp;P 500 price targets</a> in recent weeks as the bull market charges on.</li><li>China could raise nearly <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-beijing-stimulus-1-trillion-debt-package-fiscal-deficit-2024-10">$1 trillion of fresh debt</a> in the next 3 years to revive its economy, according to a report from Caixin Global.</li><li>The US freight recession is showing <a target="_blank" class="" href="https://www.businessinsider.com/author/filip-de-mott">early signs of recovery</a> as trucking company JB Hunt posted a rare earnings beat on Tuesday.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures fell. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> dipped 0.2% to $70.22 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.3% to $74.01 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.33% to $2,700.4 an ounce.</li><li>The 10-year Treasury yield was up six basis points to 4.075%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dipped 1.5% to $66,761.</li></ul>

Stock market today: Indexes gain after strong retail sales data

<ul class="summary-list"><li>South Korean companies invested more in the US in 2023 than any other country, per UN data.</li><li>The Inflation Reduction Act and CHIPS Act offer financial incentives for American-manufactured EVs, batteries, and chips.</li></ul>South Korean companies are investing billions of dollars in the US to take advantage of two big laws meant to boost American manufacturing.According to a <a target="_blank" class="" href="https://www.ft.com/content/dbc8208c-7fe2-41bf-a50d-f66abc65fde6">Financial Times</a> analysis of United Nations data, South Korean companies invested $21.5 billion in US projects in 2023, more than any other country. South Korea overtook Taiwan, which held the top spot in 2022.Samsung, LG, and Hyundai are among the South Korean companies committing billions of dollars to build facilities in the US to manufacture electric vehicles, batteries, and semiconductor chips. Much of the money is flowing to <a target="_blank" class="" href="https://www.businessinsider.com/best-economy-us-south-texas-florida-houston-dallas-nashville-miami-2023-12">southern states</a>, boosting jobs in the so-called <a target="_blank" class="" href="https://www.businessinsider.com/georgia-electric-vehicle-battery-manufacturing-inflation-reduction-act-clean-energy-2024-9">Battery Belt</a>.Yeo Han-koo, former trade minister of the Republic of Korea and a senior fellow at the Peterson Institute of International Economics, told Business Insider that US and South Korean interests in emerging technologies are perfectly aligned.Amid geopolitical uncertainty, the Biden administration is aiming to decouple US <a target="_blank" href="https://www.businessinsider.com/us-china-trade-war-tariffs-economy-election-janet-yellen-manufacturing-2024-4">supply chains from China</a> to compete in the <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-vehicles-government-subsidies-win-ev-race-byd-tesla-2024-6">EV and chips race</a>. Meanwhile, South Korea — a longtime US ally — aims to build its global profile in high-tech and auto manufacturing.In particular, Yeo said, the 2022 Inflation Reduction Act and CHIPS and Science Act provide financial incentives for companies to invest in green technology in the US, bolstering South Korean commitments."In addition to these new geopolitical factors, these massive subsidies and tax incentives from the IRA and the CHIPS and Science Act really provide a good motivation for these Korean companies to invest in the US," Yeo said.<h2 id="b759499f-886b-4c14-8bae-91a8ccc1e284">South Korean companies are creating green tech jobs in the US</h2>According to the Financial Times analysis, over half of South Korea's outbound investments went to the US in 2023, up from 18% in 2019. During that same time, South Korean outbound investment in China decreased from 11% to 1%.Over a third of Korean project announcements in the US in 2023 were in the automotive or electronics sectors, including a <a target="_blank" class="" href="https://www.businessinsider.com/georgia-electric-vehicle-battery-manufacturing-inflation-reduction-act-clean-energy-2024-9">Kia plant in Georgia</a> set to take advantage of the IRA's $7,500 tax credit for buyers of US-made EVs.Similarly, in February, Hyundai <a target="_blank" rel=" nofollow" class="" href="https://www.prnewswire.com/news-releases/hyundai-announces-new-production-start-date-at-metaplant-america-during-hyundai-day-in-georgia-302071754.html#:~:text=Hyundai%20Motor%20Group%20is%20investing,that%20will%20employ%203%2C500%20workers.">announced</a> over $7 billion in investment in production facilities in Georgia. The company estimates their investments will create nearly 40,000 jobs in the state.And South Korean investments span across multiple states, mainly in the South. Samsung <a target="_blank" href="https://www.americanprogress.org/article/new-samsung-semiconductor-plant-in-taylor-texas/#:~:text=Samsung%20invested%20approximately%20%2417%20billion,artificial%20intelligence%20(AI)%20purposes">invested</a> $17 billion in a semiconductor plant in Texas that is expected to create thousands of jobs. LG recently <a target="_blank" href="https://www.queencreekaz.gov/Home/Components/News/News/13041/13">invested</a> $5.5 billion in building a battery plant in Arizona.Additionally, SK Hynix, Inc. <a target="_blank" href="https://news.skhynix.com/sk-hynix-signs-investment-agreement-of-advanced-chip-packaging-with-indiana/">announced</a> a $3.87 billion plant in Indiana to produce chips for AI products. The plant is expected to create nearly 1,000 jobs by 2030.Yeo said South Korea has an interest in becoming a competing player in emerging technologies, and the US needs allies to bolster its manufacturing."Reviving US manufacturing will be one of the most important economic policy objectives, but I mean, the US cannot do it alone," Yeo said. "The US needs a kind of partner in rebuilding this manufacturing, especially in these emerging new industries and supply chains."In the past decade, South Korean companies have <a target="_blank" href="https://gov.texas.gov/uploads/files/business/SouthKorea-Profile.pdf">created</a> about 7,000 jobs in Texas and <a target="_blank" class="" href="https://iedc.in.gov/events/news/details/2024/03/04/indiana-to-promote-booming-battery-ev-ecosystems-to-industry-leaders-in-south-korea">nearly 8,000 jobs</a> in Indiana.As the US reenergizes its manufacturing industries, Biden's inflation-fighting laws include provisions excluding businesses with supply chains connected with "foreign entities of concern," like China, Yeo said, to guarantee competition."Once you get the US subsidies, you are limited in terms of your flexibility to invest in China," Yeo said.Those provisions have incentivized South Korean companies to divert from China and focus more on the US.In May, South Korea's Ministry of Trade, Industry and Energy announced it committed $7 billion toward moving its supply chains away from China to further comply with US rules, according to <a target="_blank" class="" href="https://www.wsj.com/business/south-korea-plans-7-billion-push-to-pivot-ev-battery-industry-away-from-china-1fa1f189">The Wall Street Journal</a>.Furthermore, as high-tech products like EV batteries become a primary focus for US manufacturing, it makes business sense for South Korean companies to invest in plants directly in the US, Yeo said."These batteries, for example, are very bulky products," Yeo said, referring to EV batteries, which he said are cumbersome to ship. "So I think in the case of the battery industry, I think it also makes commercial sense to locate those factories close to the final market or end users."South Korean companies like LG and Samsung are designed to be global, Yeo said, and the US is often a target destination for large corporations.According to World Bank <a target="_blank" class="" href="https://data.worldbank.org/indicator/SP.POP.TOTL?locations=US">data</a>, the US population is above 330 million, while South Korea's population is just above 50 million."The US is the biggest market right now, and also still, the US market is considered to be very sophisticated," Yeo said. "When these global companies roll out new products, new technologies, they need to test it in the US market."To be sure, Yeo said it's important to recognize that trade is a complicated picture. China has been and continues to be one of South Korea's largest trading partners. While this moment provides business opportunities for South Korean companies in the US, the looming geopolitical tension with China creates uncertainty."With this geopolitical tension arising between the US and China, a lot of Korean businesses who had invested in China and had big kind of China operation are really kind of being squeezed between the US and China," he said.South Korean companies are committing to the US right now, but Yeo said political uncertainty over the presidential election encourages caution for international business."Korean companies have a first-mover advantage at the moment, but now also they are facing potential risk, depending on the outcome of the November election in the US," Yeo said.Nonetheless, Yeo said these investments would likely not make business sense without the subsidies and incentives provided by the Biden Administration's focus on manufacturing."Because of this combination of all these factors you see right now," he said, "Korean investments are really flooding into the US market." Are you trying to get a job building EVs or AI chips? Reach out at <a target="_blank" class="" href="mailto:jtowfighi@businessinsider.com">jtowfighi@businessinsider.com</a>

South Korea is going big on American manufacturing. The Battery Belt could benefit the most.

<ul class="summary-list"><li>The fourth quarter started with losses in the stock market.</li><li>Investors are in wait-and-see mode back ahead of new job-opening and manufacturing data on Tuesday.</li></ul>Major stock indexes slid on Tuesday to kick off the fourth quarter.All eyes are on economic data this week that could sway market confidence. Labor prints are particularly important, as job-market strength will <a target="_blank" href="https://markets.businessinsider.com/news/stocks/best-case-scenario-for-stock-market-outlook-fourth-quarter-ms-2024-9?_gl=1*925l0f*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzc4NjA5Mi42NzMuMS4xNzI3Nzg4ODk2LjYwLjAuMA..">determine</a> Federal Reserve policy in its November meeting.Job openings data is scheduled for Tuesday morning, followed by the ADP employment report and initial jobless claims on Wednesday and Thursday.The September jobs report will arrive on Friday, with economists forecasting 150,000 jobs added for the month. Unemployment is projected to stay flat at 4.2%.A strike affecting US ports on both the East and West Coasts is also drawing trader attention this week, as analysts start to caution about macroeconomic impacts.Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,715.25, down 0.8%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,055.24, down 0.7% (275 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,978.76, down 1.2%</li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-correction-job-market-inflation-interest-rates-2024-9?_gl=1*1shyatr*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzc4NjA5Mi42NzMuMS4xNzI3Nzg2NzM2LjYwLjAuMA..">The equity market faces a 10% correction</a> as the labor market stalls, Stifel stock chief says.</li><li>3 cheap stock market sectors to snap up as the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fed-rate-cuts-value-cyclicals-corporate-profits-2024-9?_gl=1*yxm7cx*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzc4NjA5Mi42NzMuMS4xNzI3Nzg2Njc1LjYwLjAuMA..">Fed delivers a stimulus 'double whammy,'</a> according to BofA.</li><li>Top Wall Street strategists await a strong <a target="_blank" href="https://markets.businessinsider.com/news/stocks/jobs-report-lower-profit-quality-stocks-unemployment-labor-market-2024-9?_gl=1*wvd1l6*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzc4NjA5Mi42NzMuMS4xNzI3Nzg2ODI3LjYwLjAuMA..">jobs report to boost low-quality stocks</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/tesla-q3-deliveries-preview-wall-street-expects-beat-mojo-returns-2024-9">Here's a preview of what Wall Street expects</a> from Tesla's upcoming third-quarter results.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil slid 1.2% to $67.38 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 1% to $70.98 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> increased 0.62% to $2,675.8 an ounce.</li><li>The 10-year Treasury yield dropped 5 basis points to 3.743%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> inched 0.3% higher to $63,638.</li></ul>

Stock market today: Indexes slide as investors await crucial economic data

<ul class="summary-list"><li>The stock market faces pullback of up to 10%, Verdence's CIO told Yahoo Finance.</li><li>Key data prints are hovering in recession territory, Megan Horneman said.</li></ul>Investors are too quick to embrace soft-landing projections and are ignoring economic points of distress, Verdence's Megan Horneman said.This over-enthusiasm could cost the market heavily, pushing stocks toward a 7% to 10% drop, the chief investment officer said."I think investors got a little ahead of themselves as far as the what strength there is in the economy," she told <a target="_blank" href="https://www.youtube.com/watch?v=MX0i_FfJ0zs">Yahoo Finance</a>. "If you look at every other economic indicator, aside from the actual GDP number, all of these things are looking like they're in a recession territory."Horneman's cited examples included the Leading Economic Indicators index and manufacturing. This week's service index is also worth monitoring, she said.To her point, the LEI gauge has persistently signaled headwinds ahead. Between February and August, it dropped 2.3%. According to the <a target="_blank" href="https://www.conference-board.org/topics/us-leading-indicators/press/us-lei-sept-2024#:~:text=August's%20decline%20in%20the%20US,is%20likely%20imminent%20or%20underway.">Conference Board</a>, the decline in the six-month growth rate was enough to trigger a recession in August.Meanwhile, manufacturing can't seem to break out of its downturn. This week, September's Manufacturing PMI print remained stuck at 47.2 — any reading below 50 signals a contraction. This has been the case for six consecutive months and for <a target="_blank" href="https://www.prnewswire.com/news-releases/manufacturing-pmi-at-47-2-september-2024-manufacturing-ism-report-on-business-302263093.html">22 out of the past 23 months</a>."Demand remains subdued, as companies showed an unwillingness to invest in capital and inventory due to federal monetary policy — which the US Federal Reserve addressed by the time of this report — and election uncertainty," Tim Fiore, chair of the ISM manufacturing business survey committee, said in a <a target="_blank" href="https://www.prnewswire.com/news-releases/manufacturing-pmi-at-47-2-september-2024-manufacturing-ism-report-on-business-302263093.html">report</a>.Still, these data prints have taken a backseat to labor data, which holds the spotlight on Wall Street. Since rising job market deterioration played a key role in the Federal Reserve's decision to cut interest rates, investors are on the watch for any further weakness.The market is keen to see strength in September's jobs report, scheduled for release on Friday.Investors should prepare for a sell-off if unemployment jumps above 4.3% and non-farm payrolls slip under 100,000, according to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/best-case-scenario-for-stock-market-outlook-fourth-quarter-ms-2024-9?_gl=1*jge94d*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzg5MjE0OC42ODAuMC4xNzI3ODkyMTUzLjU1LjAuMA..">Morgan Stanley</a>.Horneman also noted waning consumer sentiment to drive home her point. With credit card debt on the rise, she questioned how spending is supposed to keep up."If you look at some surveys, most Americans actually think are already in a recession. That's how poorly they feel," she said. "So I just don't see the strength in the consumer that's going to be able to last much longer."According to a survey from July, <a target="_blank" class="" href="https://www.businessinsider.com/us-recession-outlook-inflation-costs-consumer-spending-affirm-soft-landing-2024-7">three in five Americans</a> believe the US is in a recession. Top reasons included inflation and rising costs of living.

Stocks face a 10% drop with key economic data mired in recession territory, investment chief says

<ul class="summary-list"><li>Stock indexes continued to rise after Monday's record close.</li><li>Investors are parsing through data and Fed commentary to determine future rate cuts.</li></ul>Stocks on Tuesday extended a winning streak that has pushed the <a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a> and the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> to fresh records.Both indexes closed at all-time highs on Monday amid rising outlooks that the Federal Reserve will deliver another half-point interest rate cut in November. The odds of another jumbo cut rose as high as 53%, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">CME's FedWatch Tool</a>.To better understand where monetary policy may be headed after the Fed's first rate cut in four years, investors are tuning into Fed commentary and parsing through incoming data.While dovish remarks from two Fed presidents helped drive fresh upside for stocks to start the week, Fed Governor Michelle Bowman's commentary on Tuesday gave investors a different perspective.Bowman — the only Fed official to dissent against September's 50 basis point cut — explained that inflation remained too elevated for her comfort."I continue to see greater risks to price stability, especially while the labor market continues to be near estimates of full employment," she said at an <a target="_blank" href="https://www.cnbc.com/2024/09/24/fed-governor-bowman-explains-dissent-on-rate-vote-says-shes-worried-about-inflation.html">event in Kentucky</a>.Eight other speaking engagements are scheduled for Fed officials this week.Investors will also consider incoming consumer confidence data and the Richmond Fed's manufacturing index, both of which will be published later on Tuesday.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,720.96, up 0.05% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,147.18, up 0.05% (+22.53 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,007.95, up 0.19% </li></ul>Here's what else is going on:<ul><li>As firms call for workers to return to office, this <a target="_blank" href="https://www.businessinsider.com/work-from-home-wall-street-return-to-office-lazard-ceo-2024-9">Wall Street CEO is still defending work-from-home.</a></li><li>Value-investing legend Bill Nygren is<a target="_blank" href="https://markets.businessinsider.com/news/stocks/bill-nygren-corebridge-financial-buyback-passive-investing-sp500-tech-concentration-2024-9?_gl=1*rv0d81*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzE3OTAwMi42NDQuMS4xNzI3MTgyNzM1LjYwLjAuMA.."> targeting this stock</a> as he warns that the S&amp;P 500 is losing diversity.</li><li><a target="_blank" href="https://www.businessinsider.com/hiring-job-market-2024-unemployment-economy-outlook-spending-2024-9">Widespread spending is about to boost the jobs market</a>, Apollo's chief economist says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-most-important-daysstock-market-between-now-and-election-2024-9?_gl=1*17dz4cd*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzE3OTAwMi42NDQuMS4xNzI3MTgzMDkxLjEuMC4w">These are the most important days for the stock market ahead of the election</a>, according to Bank of America.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up.<a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets"> West Texas Intermediate</a> crude oil jumped 2.22% to $71.94 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, increased 2.04% to $75.41 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was about flat at $2,651.6 an ounce.</li><li>The 10-year Treasury yield rose five basis points at 3.796%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> inched up 0.14% to $63,455.</li></ul>

You Searched For "manufacturing data" and got 11 results

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