Stock Market Overview
Wed, May 8th, 2024
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Stocks Recover Early Losses on Strong Corporate Earnings
Barchart - Wed May 8, 10:25AM CDT
The S&P 500 Index ($SPX) (SPY) this morning is up +0.04%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.14%.Â
US stock indexes this morning recovered from early losses and are slightly higher on some positive corporate earnings results. Vistra Corp is up more than +9% after reporting better-than-expected Q1 adjusted Ebitda. Also, Arista Networks is up more than +6% after reporting stronger-than-expected Q1 adjusted EPS. Lyft is up more than +8% after reporting better-than-expected Q1 gross bookings and forecasting Q2 gross bookings above consensus.
On the negative side, Uber Technologies is down more than -8% after reporting Q1 gross bookings below the consensus and forecasting weaker-than-expected Q2 gross bookings. Also, Match Group is down more than -5% after forecasting Q2 revenue below consensus.  In addition, Broadridge Financial Solutions is down more than -4% after reporting Q3 revenue below consen... Read more
PIMCO Increases Bond Allocation Outside U.S. Amid Federal Reserve Inflation Concerns
Quiver Quantitative, Inc. - 10 minutes ago
PIMCO, the U.S. bond giant managing $1.9 trillion in assets, announced it is increasing its exposure to bonds in developed markets outside the United States due to potential complications arising from...
Warner Bros Discovery to Slash Costs and Raise Max Streaming Prices
Quiver Quantitative, Inc. - 26 minutes ago
Warner Bros Discovery (WBD) is reportedly planning additional cost-cutting measures and a subscription fee increase for its Max streaming platform, according to sources familiar with the matter cited by...
IMCO Increases Bond Allocation Outside U.S. Amid Federal Reserve Inflation Concerns
Quiver Quantitative, Inc. - 26 minutes ago
PIMCO, the U.S. bond giant managing $1.9 trillion in assets, announced it is increasing its exposure to bonds in developed markets outside the United States due to potential complications arising from...
Oil Rebounds as U.S. Stockpiles Decline, Signaling Tighter Market
Quiver Quantitative, Inc. - 26 minutes ago
Oil prices (USO) rebounded on Wednesday after government data revealed a decline in U.S. stockpiles, signaling a tighter physical market. West Texas Intermediate (WTI) settled near $79 a barrel after crude...
Stock market today: Wall Street remains in a lull as indexes drift
AP - 27 minutes ago
U.S. stocks are drifting as Wall Street remains in a lull
The Relationship Between Elections and Volatility
CME Group - 36 minutes ago
Inflation, interest rates and geopolitical uncertainty tend to influence the market more than U.S. elections. CME Group CVOL data shows above-average volatility in the treasury and metals markets in the...
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