By Chibuike Oguh NEW YORK (Reuters) -Wall Street stocks fell on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.
The Dow nosedived along with the S&P 500 and Nasdaq Composite after a fresh read on U.S. GDP fell well short, and earnings Facebook parent Meta disappointed investors.
Markets on Wall Street gave back some of this week's gains early Thursday ahead of another heavy slate of corporate earnings and the government's initial estimate of how the U.S. economy fared in the first quarter of 2024.
U.S. stocks drifted to a mixed finish Wednesday as Wall Street’s momentum eased following some sharp swerves. The S&P 500 was virtually flat and edged up by 1.08, or less than 0.1%, to 5,071.63. It had jumped sharply in the first two days of the week to claw back nearly two-thirds of last week’s steep loss.
The U.S. stockmarket took a breather on Wednesday, ending the day little changed amid slew of corporate earnings reports, and ahead of some key economic data scheduled for the end of the week. The Dow Industrial Average closed down fractionally,
US stocks were mostly lower on Wednesday as traders prepared for the release of first-quarter GDP data and digested the latest round of corporate earnings. Investors are waiting on advanced estimates for first-quarter GDP to roll out tomorrow morning,
U.S. stocks are drifting Wednesday, as Wall Street’s big week so far lets off the accelerator. The S&P 500 was 0.1% higher in afternoon trading. Its two-day winning streak to start the week erased nearly two-thirds of last week’s steep loss.
Treasury yields were trading slightly lower as investors assessed a fresh reading on U.S. inflation in March from the Federal Reserve’s preferred gauge. The yield on the 10-year Treasury note was down about three basis points at around 4.
Oil futures advanced on Friday morning, with both U.S. and global benchmark crude prices headed for weekly gains as investors awaited the release of U.S. inflation data that may provide further clues on when the Federal Reserve’s interest-rate cuts might occur.
By Chibuike Oguh NEW YORK (Reuters) -Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.
All three major stock indexes fell Thursday after weaker-than-expected U.S. gross domestic product data revealed a spike in core inflation in the first quarter. The probability of a rate cut by September–seen as the most likely date by traders–fell to 59% early Friday,
Thursday's data is prompting debate among strategists over whether an unwelcome mix of high inflation and slow economic growth may be starting to take hold. According to David Russell, global head of market strategy at Plantation,
Another big earnings day strikes Wall Street with Alphabet and Microsoft reporting. Follow along for live stock news and updates on other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
U.S. stock futures climbed early Friday as investors digested positive earnings reports from Alphabet and Microsoft, while looking ahead to more key inflation data. Futures on the S&P 500 rose 0.8% in early trading,
The impact of the GDP report on the stock market might be tough to discern with so many key corporates -- like Meta Platforms, IBM and Caterpillar -- slumping on their results, and with Microsoft and Alphabet declining ahead of their after-the-close presentations.
Stocks are falling on worries about a toxic cocktail for financial markets, one where inflation remains stubbornly high but the economy’s growth flags. A sharp drop for Facebook parent Meta
U.S. stock futures fell in premarket trading on Thursday after Meta spooked investors with its AI spending plans, raising concerns about what awaits when Microsoft and Google report after the bell.
Gold futures headed higher on Thursday, with prices looking to recoup some of the losses seen during their declines over the past three consecutive trading sessions. Gold pulled back from its earlier highs after data showed the core [PCE deflator rose 3.
IBM stock also fell after earnings, pointing more than 8% lower. The tech sector will remain in focus throughout the day as the Google owner is due to report earnings after the cl
Global shares are trading mixed as investors look ahead to a flood of global earnings reports, including from U.S. companies known as the “Magnificent Seven.” Shares fell in early Thursday
Gross advised his followers to shun technology stocks and stick to value names. But if one must own tech, Microsoft Corp. would be best. He also advised against owning bonds, warning that the 10-year Treasury yield is likely headed toward 4.
Another big earnings day strikes Wall Street, with results due from Meta Platforms, among others. Follow along for live stock news and updates on other markets, including the Dow Jones Industrial Average,
The Bank of Japan kicks off its two-day monetary policy meeting today, with traders watching for any hawkish signals as the yen weakened past 155 per dollar on Thursday, sinking to new 34-year lows. China (SHCOMP) +0.
Bond prices rallied and yields retreated in relief Friday after the latest inflation figures matched expectations. Traders had been fearing a hotter-than-expected reading. The 2-year Treasury yield was down to 4.
Blindsided by a subpar report on U.S. economic growth, Wall Street reacted swiftly and strongly Thursday as all three major indices saw significant declines.
Meta shares are pacing S&P 500 laggards on Thursday, down about 15% and on track for their worst single-day percentage drop since they lost almost 25% on Oct. 27, 2022, according to Dow Jones Market Data.
U.S. Treasury yields were slipping but remain at multi-month highs they reached on Thursday, following weaker-than-expected first-quarter GDP and a stronger-than-expected acceleration in core PCE inflation data.
Stocks are tumbling after a report suggesting flagging economic growth and still-high inflation hurt the hopes that have kept Wall Street high recently. A sharp drop for Facebook parent Meta
U.S. Treasury yields were rising after a weaker-than-expected estimate on U.S. economic growth in the first quarter. The yield on the 10-year Treasury note was trading up about five basis points on Thursday at around 4.
To follow the latest developments from the GDP report, click here. The major U.S. indexes fell on Thursday, as investors found risks to the inflation outlook in the latest economic data. The Dow Jones Industrial Average fell 375 points,
Stocks are tumbling after a report suggesting flagging economic growth and still-high inflation hurt hopes that have kept Wall Street high recently. A sharp drop for Facebook parent Meta Platforms
The GDP numbers might be parsed more for what they say about inflation than growth. Baked into the GDP report will be the Commerce Department's quarterly PCE price index data. From that, one can get an idea for what the PCE price data for March,
The GDP report also contains quarterly personal consumption expenditure inflation data, which economists can use to get a guide to the March numbers that are due out Friday. According to ING, if the annualized rise in core PCE prices for the first quarter is 3.
Companies unleashed a record amount of dividends globally last year, but higher interest rates played a role in the 14% reduction in share buybacks, according to the Janus Henderson Group. The smaller $1.
Transportation stocks were being punished on Wednesday, with sharp drops weighing on an exchange-traded fund whose top holdings include airlines, railroads and a trucking company. Shares of the iShares U.
Treasury yields finished slightly higher on Wednesday as traders pivoted toward U.S. GDP and inflation data in the final two days of the week. The 30-year rate rose 6 basis points to 4.783%, its highest level since Nov.
Microchip stocks rallied in European trade on Wednesday on upbeat guidance from Texas Instruments as well as an improved outlook from a microchip equipment. Infineon Technologies shares rallied 6% in Frankfurt as STMicroeconomics stock added 5% in Milan,
U.S. utility stocks have stood their ground over the past week, rising for six consecutive sessions as uncertainty over rate cuts wobbles financial markets, especially for government debt. The S&P 500 utilities sector has gained nearly 6% over the past six trading days,
The Nasdaq Composite Index was trading higher on Wednesday after clawing back from losses seen earlier in the day. The index is now up around 26 points, or 0.2%, at roughly 15,723 and aiming for its third straight session of gains.