Wall Street Today | Week Ends on Tech Earnings High
Indexes were in the green Friday after the latest Magnificent Seven earnings impressed investors.
The $S&P 500 Index climbed 1.02% with preliminary closing figures. The $Dow Jones Industrial Average climbed 0.4%, and the $Nasdaq Composite Index climbed 2.03%.
MACRO
In macro, PCE inflation numbers for the month of 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 5.02% before settling at 4.99, the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to 4.66. Investors can expect an FOMC rate decision next week.
SECTORS
The Internet Content sector tracked by moomoo climbed more than 7% on Google, but also $Snap Inc news. The firm released earnings that impressed investors toward a 27% stock climb, despite a loss of 3C a share.
In commodities, Gold and Silver climbed on the day, alongside crude oil futures. Bitcoin continued to fall.
MOOVERS
The biggest news on the street is $Alphabet-C earnings that beat, and announced a new dividend payout coming to shareholders everywhere June 17th, sending the stock and it's sister $Alphabet-A up 10%
$Microsoft also impressed with earnings, pulling the Dow up with a 2% climb.
Shares of $ResMed jumped 9%, leading the S&P 500 after the sleep apnea firm posted earnings of $2.13, beating Wall Street's call for $1.93, on revenue of $1.2 billion vs $1.17 billion expected.
$Exxon Mobil shares are trading lower after Q1 results, with revenues beating expectations but adjusted net profit lower at $8.22 billion, down from $11.62 billion a year ago due to lower industry refining margins and natural gas prices.
$Chevron also pulled back Friday, after first-quarter profit and revenue fell amid a sharp drop in natural-gas prices, but managed to beat expectations.
WORD FROM THE HEARD: Mooers, what are you watching?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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affable Blobfish_403 : Indeed, printing large amounts of money can boost the economy, stock market, and inflation in the short term.