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It’s time for Yahoo Finance’s market minute.
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Stocks are retreating from record highs. Still, all three major averages are headed for another monthly gain.
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Chip stocks falling, Nvidia extending declines off around 3% after missing Wall Street’s estimates for data center revenue in Q2.
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Meanwhile, the results from Marvell added to fears around the outlook for AI growth after issuing weak guidance for its data center revenue.
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These reports weighing on the broader chip sector.
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And Duolingo shares lower facing a couple of headwinds.
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First, Google unveiling new AI powered live translation and language and learning tools.
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And analysts at Raymond James saying this is a large threat to Duolingo.
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Plus, the company’s CFO disclosed selling over 10,000 shares of the stock for about $3.47 million.
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And Gap shares turned positive after initially falling on mixed second quarter results.
00:53 Speaker A
JP Morgan raising its price target on the stock to 32 bucks a share from 29, saying the retailer is at an inflection point and could see stronger growth ahead.
