Live Markets: Taking the quantum dive

Quantum Computing

08/01/2025 15:26

* 
      Main U.S. indexes modestly red; Nasdaq off most, down
~0.4%
    

        * 
      All S&P 500 sectors decline; Utilities weakest group
    

        * 
      Euro STOXX 600 index off ~0.4%
    

        * 
      Dollar, gold higher; crude ~flat; bitcoin falls >1%
    

        * 
      U.S. 10-Year Treasury yield flat at ~4.69%
    

  
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    TAKING THE QUANTUM DIVE
    Wall Street's main indexes are modestly lower early on
Wednesday as investors digest a softer-than-expected ADP private
payrolls number, while taking stock of a report that said
President-elect Donald Trump was mulling a national economic
emergency declaration.
    Fed governor Christopher Waller said inflation should
continue falling in 2025 and allow the central bank to further
reduce interest rates, though at an uncertain pace.
    Minutes from the Fed's December meeting are due at 2:00 p.m.
ET.
    Meanwhile, traders are eyeing the U.S. 10-year Treasury
yield  US10YT=RR . So far, it has failed to punch above its
April 2024 high at 4.7390%. The yield has since backed away to
around 4.69%.
    All S&P 500  .SPX  sectors are red, though only one group,
utilities  .SPLRCU , is off more than 1%. 
    Banks,  .SPXBK   .KRX , chips  .SOX , and small caps  .RUT 
are on the weak side, while gold stocks  .HUI  are gaining.
    Of note, more speculative stocks are under heavy pressure,
with quantum computing plays being taken to the woodshed. This
after Nvidia  NVDA.O  CEO Jensen Huang said computers based on
the emerging technology are as much as 30 years away.
    Here is a price-weighted composite of IONQ  IONQ.K , Rigetti
 RGTI.O , Quantum Computing  QUBT.O  and D-Wave  QBTS.K . After
a parabolic rise into its early January high, this composite is
down more than 40% in early trade!
    
     
    Here is an early market snapshot from around 10:15 a.m. ET:
    
    
    (Terence Gabriel)
     *****
    
    
    FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
    
    BENCHMARK TREASURY YIELD CHALLENGING ITS APRIL 2024 HIGH -
CLICK HERE
    
    BOFA SEES UPSIDE FOR UK BANKS - CLICK HERE
    
    YIELD AND TRUMP JITTERS KNOCK STOCKS - CLICK HERE
    
    BANKS: "MUCH MORE TO GO IN 2025" - CLICK HERE
    
    US TARIFFS? TRANSACTIONAL FOR EUROPE, PUNITIVE FOR CHINA -
CLICK HERE
    
    EUROPEAN DEFENCE NAMES BOOST STOXX, OIL NAMES CAP GAINS -
CLICK HERE
    
    STRONG DOLLAR, RISING YIELDS HOG THE SPOTLIGHT - CLICK HERE
    
    EUROPE BEFORE THE BELL: FUTURES FALTER AS TRUMP, JOBS DATA
IN FOCUS - CLICK HERE
     
       

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QuantumStocks01082025    https://tmsnrt.rs/407Y0d5
earlytrade01082025    https://tmsnrt.rs/404ZFjH
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 (Terence Gabriel is a Reuters market analyst. The views
expressed are his own)