Stock Market Overview
Wed, May 1st, 2024
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Markets are Mixed After FOMC
Barchart - Wed May 1, 10:06AM CDT
The S&P 500 Index ($SPX) (SPY) is down -0.28%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.29%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.23%.
The market is mixed the FOMC was released this afternoon. Chairman Jerome Powell announce no change in the 5.25%-5.50% fed funds target range for a sixth straight meeting. Powell said, “I think it’s unlikely that the next policy rate move will be a hike. I’d say it’s unlikely.”
Corporate earnings results today are mixed. On the negative side, CVS Health Corp is down more than -19% after reporting weaker-than-expected Q1 adjusted EPS and cutting its full-year adjusted EPS forecast. Also, Starbucks is down more than -16% after reporting an unexpected decline in Q2 comparable sales. In addition, Super Micro Computer is down more than -15% after reporting weaker-than-expected Q3 net sales.
On the positive side, Bio-Techne is up more than +16% to lead gainers in the S&P 500 after reporting better-than-expec... Read more
Stock market today: Wall Street swings after Fed keeps interest rates high, downplays odds of a hike
AP - 9 minutes ago
U.S. stocks finished mixed after the head of the Federal Reserve said the cuts to interest rates that Wall Street craves so much are still likely, even if they’re delayed because of stubbornly high inflation...
AP PHOTOS: Workers rule the streets on May Day
AP - 11 minutes ago
AP PHOTOS: Workers rule the streets on May Day
2 Tech Stocks Set to Ride Microsoft's Azure Coattails
Barchart - 39 minutes ago
As Microsoft’s Azure continues to dominate the cloud computing landscape, here are two tech stocks that are well-positioned to ride Azure’s momentum.
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
AP - 55 minutes ago
The Federal Reserve emphasized that inflation has remained stubbornly high and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably...
1 Airline Stock to Shelter Investors from Boeing's Woes
Barchart - 1 hour ago
Safety issues at Boeing mean that not every air carrier will benefit from the boom in air travel - as in, some airlines will literally not have enough planes to meet demand for the peak summer travel season....
LSEG Completes $624 Million Share Buyback as Part of Refinitiv Integration
Quiver Quantitative, Inc. - 1 hour ago
The London Stock Exchange has taken a decisive step in solidifying its market position by announcing a substantial share buyback worth 500 million pounds ($624 million) from investors associated with its...
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