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Shares of Salesforce dragged the Dow lower after it posted its first revenue miss in nearly 20 years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks continued a painful slide lower on Thursday as traders turned their attention to upcoming inflation data that could set the tone for the market as it heads into the summer months. ET, both indexes became stuck on several websites, though individual stock prices continued to update normally. Shares of Salesforce dragged the Dow as the stock dropped 20% after it reported its first revenue miss in almost 20 years.
Persons: Stocks, Salesforce, , Dow, David Russell Organizations: Service, Dow Jones, Dow, Treasury, Global, Barclays, Here's
Stocks fell on Wednesday ahead of fresh economic data on growth and inflation. A $44 billion auction of seven-year Treasury notes was met with tepid demand. Bond yields spiked for a second day, with the 10-year bond climbing by seven basis points to 4.61%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Tuesday, a sale of two and five-year notes was priced to weaker demand from investors.
Persons: Stocks, , Price Organizations: Service, Dow Jones Industrial, Treasury, Nasdaq, Nvidia
Stocks slipped on Wednesday as traders watched the rise in US Treasury yields. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStocks dipped on Wednesday — with the Nasdaq falling from a record — as investors watched bond yields move higher for a second day this week, with the 10-year Treasury continuing to climb above 4.5%. US bond yields are hovering around the highest level in about four weeks following a weak government bond auction Tuesday, as well as waning rate-cut hopes amid the latest inflation data.
Persons: Stocks, , Carol Schleif Organizations: Treasury, Marathon Oil, ConocoPhillips, Service, Nasdaq, Federal Reserve, BMO Family Office, American Airlines Locations: PCE, Here's
The Nasdaq hit a record in early trading on Tuesday while other indexes were mixed. Traders are awaiting PCE inflation data on Friday. Markets will also digest housing data and revised GDP numbers for the first quarter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAlso this week, another round of Fed speakers will deliver commentary on the path of the economy, inflation, and interest rates.
Persons: , Neel Kashkari, Kashkari Organizations: Nasdaq, Traders, Service, PCE, Minneapolis, CNBC, Wedbush, Apple
The Nasdaq finished at a record while the Dow tumbled. Nvidia soared but the broader market weakened amid a fresh spike in Treasury yields. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks finished mixed on Tuesday, with the Nasdaq at a record but the Dow Jones Industrial Average sliding more than 200 points. Weighing on shares during the session was a jump in Treasury yields as the latest auction was met with lukewarm demand.
Persons: Dow, , Neel Kashkari, Elon Musk Organizations: Nasdaq, Nvidia, Service, Dow Jones, Federal Reserve, Minneapolis
Nvidia's solid earnings and guidance boosted its stock but the broader market saw a sharp dip. Rate cuts bets faded after services and manufacturing data pointed to still-sticky inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The drop came after new services and manufacturing PMI data topped economists' estimates, hinting at more inflation pressure for the US economy. AdvertisementThursday's data pressured the outlook for rate cuts later this year.
Persons: Dow, Organizations: Service, Nvidia, Dow Jones, Nasdaq, Treasury, Here's
Stocks jumped Thursday with investors feeling buoyant after Nvidia's big first-quarter earnings report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks moved higher on Thursday, with investors cheering another blowout earnings report from chip giant Nvidia. The company, whose chips are at the heart of the artificial intelligence boom, beat on both revenue and earnings. It reported $26.04 billion in revenue versus analyst estimates of $24.65 billion, and earnings per share of $6.12, compared to estimates of $5.59.
Persons: Stocks, Raphael Bostic, , Blackwell, AI Jensen, Dan Ives Organizations: Atlanta Fed, Service, Nvidia, Securities, Microsoft, Atlanta Federal Reserve, Here's
The Dow Jones Industrial Average surpassed 40,000 for the first time ever Thursday. Stocks are on a record-setting run after a soft April inflation reading, with the S&P 500 extending gains after a record close on Wednesday. AdvertisementThe Dow Jones Industrial Average surpassed 40,000 for the first time ever on Thursday, with stocks extending gains following Wednesday's cooler inflation reading for April. Advertisement"The overall trend looks reasonably good," Williams said regarding inflation during an interview with Reuters. AdvertisementHere's where US indexes stood at 11:00 a.m. on Thursday:Here's what else is going on today:AdvertisementIn commodities, bonds, and crypto:
Persons: Stocks, , John Lynch, Dow, Tom Barkin, Patrick Harker, Loretta Mester, Raphael Bostic, John Williams, Williams, Chris Zaccarelli Organizations: Dow Jones Industrial, Service, Federal Reserve, Comerica Wealth Management, Reuters, Labor Department, GameStop, AMC, Here's
Stocks turned lower and closed in the red on Thursday after the Dow briefly crossing 40,000 for the first time. The S&P 500 failed to extend its gains after closing at a record high on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Dow failed to close above the key threshold, and the S&P 500 struggled to consolidate gains after hitting a record close on Wednesday. AdvertisementBroadly, the Fed speakers on Thursday painted a picture of a central bank in no hurry to pivot as inflation remains above its 2% target.
Persons: Stocks, , Dow, Tom Barkin, John Williams, Barkin Organizations: Dow, Service, Dow Jones, Federal Reserve, Richmond Fed, York Fed, Reuters, CNBC Locations: Here's
US stocks rose on Friday as markets assessed new inflation data in the form of March PCE. The Fed's preferred gauge showed inflation rose 2.8% year-over-year, slightly higher than estimates. AdvertisementUS stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%.
Persons: , Clark Bellin Organizations: PCE, Microsoft, Google, Service, Federal, Bellwether
Commentators pointed out that the data was still mostly strong but inflation is problematic. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStocks fell on Thursday, with the Dow Jones Industrial Average losing 375 points as the market took in weaker-than-expected economic data. Savings rates are falling as sticky inflation puts greater pressure on the consumer," LPL Financial chief economist Jeffrey Roach said.
Persons: , Stocks, Jeffrey Roach Organizations: Service, Dow Jones Industrial, Reserve, Barclays, Bank of America, PCE, Financial, Treasury, Meta, Microsoft, Google
US stocks fell sharply Thursday as data showed the US economy grew much slower than expected to start 2024. The report also showed consumer prices rising in the quarter, complicating the Fed's rate-cut decision. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The market will be focused on personal consumption expenditures data, the Fed's preferred inflation measure, which is due out on Friday. AdvertisementBond yields jumped as traders reacted to the economic data.
Persons: , Quincy Krosby Organizations: Treasury, Service, Economic, Federal Reserve, LPL, Here's
Learn moreThere's less than one week left to cash in on major savings through Max, formerly HBO Max, annual subscriptions. Until April 9, you can catch Dune, House of the Dragon, and Succession for up to 42% off if you select one of the service's three annual plans. Max offers three annual plans: With Ads, Ad-Free, and Ultimate Ad-Free. Max Ad-Free Annual Plan $110.99 $191.88 Save 42% Annual Max subscriptions can seem expensive, but they're more affordable than paying month-to-month. Also for a limited time only, all Max plans have access to the new free B/R Sports Add-on, which will eventually cost about $10 a month.
Persons: you've, Max, Max Ad, Wonka, Barbie Organizations: Business, Max, HBO Max, HBO
Learn moreFor a limited time only, you can get major savings on Max subscriptions, which are usually among the most expensive in the world of streaming. Until April 9, you can get up to 42% off the service's three annual plans: With Ads, Ad-Free, or Ultimate Ad-Free. Annual plans typically cost $99.99 with ads, $149.99 Ad-Free, and $199.99 for Ultimate Ad-Free. Max Ad-Free Annual Plan $110.99 $191.88 Save 42% Annual Max subscriptions can seem expensive, but they're more affordable than paying month-to-month. Plan Monthly Rate Usual Annual Rate Discount Annual Rate With Ads $9.99 $99.99 $69.99 Ad-Free $15.99 $149.99 $110.99 Ultimate Ad-Free $19.99 $199.99 $139.99Formerly HBO Max, Max is the go-to streaming service for HBO, Max originals, and an impressive on-demand catalog of beloved TV shows and movies.
Persons: Max Ad, HBO Max, Max, Wonka Organizations: Business, Max, HBO, Thrones Locations: Kong
watch nowA sharp drop in mortgage interest rates in December may have kickstarted this year's spring housing market early. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie Mae. "This significant shift in consumer expectations comes on the heels of the recent bond market rally," said Palim. "Notably, homeowners and higher-income groups reported greater rate optimism than renters." The average rate on the 30-year fixed has been on a wild ride since the start of the Covid pandemic.
Persons: Fannie Mae, Mark Palim, Ryan Paredes, Ariadna Paredes, Ryan Ratliff, Joe Raedle, Paul Legere Organizations: Max Advance Realty, Getty, . Washington , D.C Locations: Cutler Bay , Florida, . Washington ,
US stocks rose on Wednesday ahead of the Thanksgiving holiday. Bond yields edged lower, with the 10-year Treasury slipping three basis points. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks rose on Wednesday as investors prepared to wind down trading for the Thanksgiving holiday. Bond yields on Wednesday slipped, with the 10-year Treasury rate down about three basis points.
Persons: , Stocks Organizations: Treasury, Service, Traders, Federal
The media industry is in a transitional moment — from streaming to traditional TV — and the focus needs to be on ending the writers and actors' strikes, Warner Bros. The comments came a day after Warner Bros. The work stoppage has halted production on Hollywood sets, impacting companies like Warner Bros. Warner Bros. Still, like its peers, Warner Bros.
Persons: David Zaslav, Zaslav, Goldman Sachs, Warner, Max, Organizations: Warner Bros, Discovery, Technology, Writers Guild of America, Hollywood, Warner, Warner Bros . Discovery, NBA, Max, CNBC, Major League Baseball, AMC Networks, CNN
Google has disputed the Adalytics report, with a spokesperson describing it in a statement to Insider as "deeply flawed and misleading." An IPG Mediabrands spokeswoman said it was not accurate to say the agency was recommending a pause on any Google product. "What worries me about this Adalytics report is that Performance Max campaigns have allegedly been observed to run on made-for children inventory," Schreurs said. The article also refers to research undertaken by 3rd party (Adalytics) and the Adalytics report also mentions the following IPG/MB clients: 1. GAF For several of the above clients, the Adalytics report references that IPG/Matterkind placed the ad.
Persons: Max, IPG Mediabrands, Adalytics, wasn't, IPG, Ruben Schreurs, Schreurs, Edward J, Markey, Marsha Blackburn, Dyson, Matterkind, Biden's Organizations: Google, YouTube, The New York Times, Federal Trade Commission, COPPA, Republican, New York Times, Brand, Adalytics, NY Times, BMO, BMW, Nike, Intuit, Honda, FTC, United States, Association, MFK Locations: Massachusetts, Tennessee, United, MFK
The 10-year Treasury yield is firmly above 4% in August, helping to stall the stock market's strong 2023 rally. But with the end of rate hikes in sight as inflation keeps falling, yields should theoretically be doing the opposite. Here's why Treasury yields have been steadily moving up this month. Rising yields have dented the stock market's stellar 2023 rally, confounding and frustrating markets that see an end in sight to the Federal Reserve's rate hiking campaign amid dwindling inflation. "Our base case remains that the U.S. economy will slow down/contract due to the elevated interest rates caused by the Fed rate hiking campaign," LPL's Gillum said.
Persons: Lawrence Gillum, Brandon Hall, screech, LPL's Gillum Organizations: Treasury, Service, LPL, Fed, JPMorgan, Tech Locations: Here's, Wall, Silicon, Treasuries, U.S
US stocks closed lower on Wednesday after Fed minutes showed officials remain worried about inflation. Markets have been confident in their belief that the July rate hike was the last of the Fed's cycle. "The Fed wants to talk tough on inflation, but it's obvious they are done with rate hikes. "The July 26 rate hike was most likely not a one and done as the latest round of data suggests." The Fed will have another inflation report and another jobs report to sift through before it makes another policy decision.
Persons: Jamie Cox, Quincy Krosby Organizations: Service, Reserve, Harris Financial, LPL, Fed, Dow Jones, Nasdaq Locations: Wall, Silicon
US stocks closed higher Thursday but gave up their biggest gains as traders assess July CPI data. Inflation last month came in at 3.2%, higher than June but lower than what was expected. Markets are deciding if it was enough to warrant a full pivot by the Fed away from tight monetary policy. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Prices last month rose at a rate of 3.2%, slightly below expectations of 3.3%.
Organizations: Service, July's, Dow Jones, Investors, Federal Reserve, BNP, Nasdaq Locations: Wall, Silicon, Here's
BlackRock and MSCI are facing probes by lawmakers for facilitating investments in Chinese firms, the WSJ reported. The probes are related to investments in companies flagged by the US over security risks or human rights violations. The congressional panel said it found that American investors have funded 60 such companies and BlackRock has invested $429 million through five of its funds. The majority of our clients' investments in China are through index funds, and we are one of 16 asset managers currently offering US index funds investing in Chinese companies. With all investments in China and markets around the world, BlackRock complies with all applicable US government laws.
Persons: MSCI Organizations: BlackRock, Service, Wall Street, Chinese Communist Party, WSJ, US Locations: MSCI, China, Wall, Silicon, Xinjiang, US
Palantir stock is headed to $25 a share as the company builds an AI "fortress," Wedbush said. The company will be a major player in the AI boom in the next decade, the firm said. "As we begin the 4th Industrial Revolution, Palantir is engaging in the widespread trend of various industries leveraging recent generative AI innovations to streamline operations and improve expense profiles," the Wedbush analysts wrote. "This is early innings on a sum-of-the-parts AI story just on the cusp on monetizing this massive green field AI opportunity," it predicted. Palantir CEO Alex Karp has been a vocal proponent of the rapid development of AI even in the face of risks associated with the technology.
Persons: Wedbush, Wedbush's Dan Ives, Palantir, Messi, Ives, Lionel Messi, Alex Karp Organizations: Service, Wedbush Securities, New York Times Locations: Wall, Silicon, Tel, Argentine
US stocks closed higher on Tuesday as investors got ready for an important June CPI reading. The key inflation data will arrive Wednesday morning, ahead of the Fed's next policy meeting at the end of the month. Shares of Activision spiked in the session after a judge said Microsoft could buy the video game company. It comes ahead of the Federal Reserve's next policy meeting on July 25-26. Inflation has been falling steadily this year, and clocked in at a 4% year-over-year pace in May, the slowest rate in two years.
Persons: they're Organizations: Activision, Microsoft, Service, Federal, Activision Blizzard, Federal Trade Commission Locations: Wall, Silicon
Activision Blizzard stock popped 11% after a judge paved the way for Microsoft to complete its takeover of the game publisher. She said the deal would in fact enhance access to popular game franchises like "Call of Duty" and other titles published by Activision. The company has said it is concerned that Microsoft will make popular franchises like "Call of Duty" exclusive to its consoles. Microsoft has said it doesn't intent to do this, but critics point to the firm's $11 billion takeover of Zenimax in 2021. The deal can now proceed before a hearing that the FTC had scheduled for August, in which it was set to challenge the merger.
Persons: Microsoft's, Jaqueline Scott Corley, Biden, Bobby Kotick Organizations: Activision Blizzard, Microsoft, Federal Trade Commission, Service, Privacy, US, FTC, Activision, That's, Sony, Xbox Locations: Wall, Silicon, Zenimax
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