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Stocks Mixed as Investors Digest Earnings, Await Results from Big Tech Companies
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Stocks Mixed as Investors Digest Earnings, Await Results from Big Tech Companies

Major U.S. indexes were mixed Tuesday morning as investors digested a slew of corporate earnings reports and awaited results from major technology companies later in the day.

The S&P 500 and Nasdaq Composite rose 0.1% and 0.4%, respectively, in recent trading, while the Dow Jones Industrial Average fell 0.1%. Major indices closed with gains On Monday, the Dow ended its five-session losing streak.

Shares of Dow component McDonald’s (MCD) rose 0.5% after the fast food chain’s quarterly results beat expectations at the top and bottom lines, but same-store sales figures disappointed. ford (F) shares fell 9% late Monday after the automaker reported earnings that fell short of expectations and revised its full-year outlook.

VF Corp. (VFCThe company, which owns The North Face, Vans and Timberland brands, was the biggest gainer in early trading, rising 23% after announcing its quarterly results.

Investors await Alphabet’s earnings reports after the closing bell (Google) and Advanced Micro Devices (AMD), kicks off several days of earnings reports for tech giants, including Apple (AAPL), Microsoft’s (MSFT), Amazon (AMZN), Meta Platforms (META) and Intel (INTC).

Large-scale technology stocks rose on Tuesday morning, thanks to the influence of Nvidia, the favorite of artificial intelligence investors (NVDA), Apple, Microsoft, Alphabet, Amazon, and Meta are all gaining ground. Tesla’s (TSLA) shares fell nearly 1% as the EV maker fell for a second straight day after surging 25% in the final two days of last week following a strong earnings report.

Tuesday’s calendar included several economic indicators, including consumer confidence, job opportunities and home prices. The economic data calendar will also accelerate significantly in the coming days. quarterly GDP figuresmonthly inflation data And October employment report. Investors are closely watching all data points as they look for signs that the economy remains on solid footing, as well as information that could influence the Federal Reserve’s upcoming decisions on interest rates.

The yield on the 10-year Treasury note, which correlates with expectations for interest rates, rose again Tuesday morning. The rising yield rose to 4.33% in recent trading from 4.28% yesterday as market participants readjusted their bets on how aggressive the Fed will be in cutting interest rates.

Crude oil futures were slightly lower this morning after falling more than 5 percent on Monday as fears eased that conflicts in the Middle East could cripple Iran’s oil production.

Gold futures rose nearly 1% to $2,780 per ounce and were once again trading at record levels, while Bitcoin rose to $72,000 and traded at its highest levels since early June.