Market In the Red and Healthcare Can't Help | Moovers
Morning mooers! It is Tuesday, April 30th, and the market is in red on the second day of jam-packed Q1 earnings week. Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
My name is Kevin Travers, and the city is foggy with mixed earnings results, here are stories moooving the market:
MOOVERS
$Eli Lilly and Co (LLY.US)$ rose 7% after the drug maker reported a 26% increase in quarterly revenue, aided by robust demand for its weight-loss drug Mounjaro. The stock was the highest gainer on the S&P 500.
Shares of $3M (MMM.US)$jumped 4.9% toward a 14-month high Tuesday after the company reported first-quarter profit and revenue that beat expectations during a quarter when it finalized two major legal settlements. The firm was the highest gainer on the Dow Jones.
$GE HealthCare Technologies (GEHC.US)$ fell 10% pulling down the S&P and Nasdaq 100, after the firm's earnings missed slightly.
$Caterpillar (CAT.US)$ fell 2%, holding hands with $Walmart (WMT.US)$ down nearly 2% in pulling down the Dow. CAT was delisted from two exchanges in Europe, while Walmart announced it would shut down its healthcare business in preference for starting a food label.
SECTORS
As tracked by moomoo, the Drug manufacturers sector climbed 1.7% led entirely by Eli Lilly and Co.
Gold and silver futures were falling alongside oil was falling. Bitcoin was falling slightly, leading to a pullback in crypto stocks.
RECAP
Indexes were lower in the hour after open, despite some gainers on this morning's earnings reports.
Just past 10:45 AM EST, the $S&P 500 Index (.SPX.US)$ fell 0.19%. The $Dow Jones Industrial Average (.DJI.US)$ fell 0.33%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.22%.
MACRO
This morning, the U.S. April Consumer Confidence came in at 97, compared to est 104.
This week, investors can expect an update from the FOMC on target Federal Funds Rates. Last week in macro, PCE inflation numbers for March came out higher than expected, up 2.8% compared to 2.6%. The numbers follow GDP numbers for the first quarter that came out low Thursday, at 1.6% growth compared to expectations of 2.5%.
$U.S. 2-Year Treasury Notes Yield (US2Y.BD)$climbed to 4.98 this morning after hitting 5.02% briefly, the$U.S. 10-Year Treasury Notes Yield (US10Y.BD)$climbed to 4.64.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
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safri_moomoor : crptor stop
Kamchi : Thanks for the info, as always
Kevin Travers OP safri_moomoor : Cryptor? Creptor? Crocodile?
Kaitlyn Perrier : watching
JkdTk : Damn, it's a frenzy every time on the eve of the holidays