Nasdaq

The Nasdaq was poised to lead Wall Street lower again Monday, with futures tied to the tech-heavy index dropping 2%.

(AP) Energizer (ENR) beat estimates by 9 cents a share, with quarterly profit of 47 cents per share. Southwest Gas rose 1% in the premarket. Tyson earned $2.29 per share, compared to a $1.91 a share consensus estimate. Coty (COTY) reported quarterly earnings of 3 cents per share, beating the penny a share consensus estimate. Elanco reported slightly better-than-expected profit and revenue for its most recent quarter. Revenue topped forecasts as well and the cosmetics company raised its full-year outlook on strong demand for its products. Palantir reported profit of 2 cents per share, compared to a 4 cents a share consensus estimate. Rivian went public in November and initially surged, before going on a long slide. China is adamant that it will stick to its zero-COVID policy to fight a disease that first emerged in the city of Wuhan in late 2019, despite the mounting toll on its economy. (CNBC) The first trading week of May marked the sixth straight weekly decline for the Dow, and five straight weekly drops for the S&P 500 and the Nasdaq. The Dow and S&P 500 remained in corrections, as defined by a drop of 10% or more from their recent highs. Bitcoin plunged over the weekend and dropped another 5% on Monday, going below $33,000 as the world's largest cryptocurrency remained correlated to tech stocks and the Nasdaq. U.S. oil prices dropped Monday alongside stocks.

Wall Street's blue-chip S&P 500 index slid 3.2 per cent and the tech-focused Nasdaq Composite dropped 4.3 per cent. Europe's regional Stoxx 600 index fell 2.9 ...

The energy sector tumbled 3.4% as oil prices fell more than 2%, sparked by weak China data and a tighter COVID-19 lockdown in Shanghai that deepened fears ...

"The market is focused on long-term interest rates. The energy sector tumbled 3.4% as oil prices fell more than 2%, sparked by weak China data and a tighter COVID-19 lockdown in Shanghai that deepened fears that the global economy is headed for a slowdown. Declining issues outnumbered advancers for a 5.92-to-1 ratio on the NYSE and a 4.82-to-1 ratio on the Nasdaq. The first-quarter earnings season is in its final stretch, and of the 434 S&P 500 companies that have reported results as of Friday, 79% have topped analysts' estimates, according to Refinitiv. The energy sector tumbled 3.4% as oil prices fell more than 2%, sparked by weak China data and a tighter COVID-19 lockdown in Shanghai that deepened fears that the global economy is headed for a slowdown The S&P index recorded one new 52-week high and 53 new lows, while the Nasdaq recorded seven new highs and 685 new lows. The S&P 500 growth index has dropped nearly 22.8% so far this year, compared to a 13.5% fall in the benchmark index . Technology-focused growth stocks have faced the brunt of the sell-off this year as their returns and valuations are discounted more deeply when yields rise. Investors will keep a close eye on the U.S. inflation data for April for clues on whether the price pressures are reaching a peak. The tech-heavy Nasdaq dropped 3.4%, while the benchmark S&P 500 index hit its lowest level in a year as megacap stocks Microsoft Corp, Amazon.com, Apple Inc, Google-owner Alphabet Inc, Meta Platforms and Tesla Inc fell between 2.3% and 3.2%. After a 50 basis points increase in interest rates this month by the U.S. central bank, many traders expect it to raise it by another 75 basis points at its June meeting. U.S. stocks slid on Monday as higher U.S. Treasury yields hit growth stocks amid prospects of aggressive monetary policy tightening, with investor sentiment taking a hit from fears of a sharp economic slowdown in China.

Benchmark 10-year U.S. Treasury yields hit their highest levels since November 2018 early in the session. Investors are worries about how aggressive the Federal ...

read more The S&P 500 hit its lowest level since April 2021, while the Nasdaq hit its lowest level since its lowest level since November 2020. The U.S. central bank recently hiked interest rates by 50 basis points. The S&P 500 posted 1 new 52-week highs and 67 new lows; the Nasdaq Composite recorded 13 new highs and 1,146 new lows. The Dow Jones Industrial Average (.DJI) fell 525.94 points, or 1.6%, to 32,373.43, the S&P 500 (.SPX) lost 116.11 points, or 2.82%, to 4,007.23 and the Nasdaq Composite (.IXIC) dropped 486.13 points, or 4%, to 11,658.53. S&P 500 hits lowest since April 2021, Nasdaq down 4% amid rate concerns

Stocks are slipping after a massive selloff last week. Bitcoin sunk below $31000 on Monday. Rivian's stock fell by more than 20%

Share your thoughts and experiences with USA TODAY for possible inclusion in future coverage. The yield on the 10-year Treasury has shot to its highest level since 2018 as inflation and expectations for Fed action rose. The Nasdaq composite’s loss of roughly 25% for 2022 so far is much sharper than that for other indexes. The risk is the Fed could cause a recession if it moves too far or too quickly. Many tech-oriented companies saw profits boom through the pandemic as people looked for new ways to work and entertain themselves while locked down at home. Companies overall are reporting bigger profits for the latest quarter than expected, as is usually the case. The central bank has already pulled its key short-term interest rate off its record low of zero, where it sat for nearly all the pandemic. Share your thoughts with USA TODAY on the form below or click here.) Tech earnings are also lagging, she said. Stocks fell across Europe and much of Asia, as did everything from old-economy crude oil to new-economy bitcoin. But discouraging signs for future growth have been plentiful. Share your thoughts with USA TODAY on the form below or click here.)

All three major indices were pummelled in another ugly trading session. . Read more at straitstimes.com.

Both companies cautioned that a deal was not certain. But Philip Morris International gained 0.9 per cent after it confirmed it was in talks to acquire Swedish Match in a deal that would boost its smokeless offerings. Large tech names continued to retreat with Amazon losing 5.2 per cent and Netflix falling 4.4 per cent. Ten of the 11 sectors in the S&P 500 finished lower, with only the consumer staples group mustering a tiny gain. The broad-based S&P 500 slid 3.2 per cent to 3,991.24, its first close under 4,000 points since March 2021. All three major indices were pummelled in another ugly trading session, with the Dow Jones Industrial Average falling two per cent, or more than 650 points, to end the day at 32,245.70.

That's the biggest three-day drop for the index since September 2020, according to data compiled by Bloomberg. Money Pit. Tech stocks lose over $1 trillion in ...

The tech-heavy benchmark sank 4% on Monday, extending its decline to 10% since the Federal Reserve raised interest rates half a percentage point last week and ...

Microsoft Corp.sank below US$2 trillion in market value on Monday for the first time since June 2021, with the stock now down 21% this year. The Nasdaq 100 is down 25% this year amid a jump in U.S. Treasury yields and mounting concerns that higher interest rates and soaring inflation could tip the U.S. economy into recession. Few tech companies have been spared in this year’s selloff. Broad stocks benchmark is in its worst three-day stretch since its March 20, 2020, pandemic low. Tech wasn’t alone in this slump. The tech-heavy benchmark sank 4% on Monday, extending its decline to 10% since the Federal Reserve raised interest rates half a percentage point last week and Chair Jerome Powell signaled the Fed would continue hiking at that pace.

U.S. stocks plunge on Monday, weighed down by recession fears and monetary policy angst, with the S&P 500, Nasdaq 100 and the Dow Jones all dropping to ...

The Nasdaq 100 nosedived on Monday and set a new 2022 low after sliding below the March 2021’s trough near 12,210, an event with bearish implications for price action. In terms of forecasts, April CPI is expected to come in at 8.1% y/y from 8.5% in the previous month, while the core gauge is seen rising 6% y/y from 6.5% y/y previously. Although the likelihood of a near-term recession remains low due to a healthy labor market and strong consumer spending, the outlook is not static and could change with short notice. Meanwhile, the Nasdaq 100 led the rout on Wall Street, plunging 3.98% to 12,187, a fresh low for 2022. The Dow Jones, for its part, sank 1.99% 32,245, deepening its run into correction territory. At the market close, the S&P 500 sank 3.2%, losing the psychological 4,000 level and ending the afternoon at 3,991, its lowest level since April 2021.

U.S. stocks plummet at the start of the week, dragged down by fears that the U.S. economy is heading for a hard landing and April inflation data, to be released ...

It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. No representation or warranty is given as to the accuracy or completeness of this information. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. No representation or warranty is given as to the accuracy or completeness of this information. In terms of forecasts, April CPI is expected to come in at 8.1% y/y from 8.5% in the previous month, while the core gauge is seen rising 6% y/y from 6.5% y/y previously. Although the likelihood of a near-term recession remains low due to a healthy labor market and strong consumer spending, the outlook is not static and could change with short notice.

Cryptocurrency losses steepened over the weekend. Crypto trades 24 hours a day, including weekends. “Bitcoin has followed the lead of the equity market, ...

"But other inflation metrics are starting to slow down and the April CPI could follow suit, which in turn will likely alleviate the market's concern and help recover its risk sentiment." Bitcoin needs to maintain the key psychological level of $33,000 to prevent further deterioration of technical sentiment, Hasegawa added. Losses steepened over the weekend. Key U.S. inflation data for the month of April, due to be released Wednesday, could be a temporary "turning point" for bitcoin, according to Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. Crypto trades 24 hours a day, including weekends. "Bitcoin has followed the lead of the equity market, extending lower after a weak April," said Katie Stockton, founder of Fairlead Strategies. "Short-term momentum has deteriorated … and bitcoin is no longer oversold from a short-term perspective."

The reverse wealth effect could accelerate a recession that would tamp down inflation — leading the Fed to cut rates.

I think one reason stocks have fallen is the uncertainty around how much the Fed will need to raise interest rates to control inflation — which hit 8.5% in March. How high could they go? In recessions since 1980, it has taken the S&P 500 anywhere between seven and 76 months to surpass the pre-recession high. A drop in consumer spending could happen if the unemployment rate rises and/or the reverse wealth effect from plunging stocks and much higher gas and other prices convince people to spend less. If everyone did that, demand and ultimately prices would drop. I have no idea when stocks will bottom out. Inflation will go down if demand drops and/or supply increases. This move signaled inflation would not be cured by letting the free market work. It helped that wages went up over 5% and that the unemployment rate was 3.6% in April. Six months recession and seven months for S&P 500 to reach pre-recession high of 422 reached in January 1980 One investing story is that stocks forecast the economy. How so? How do recessions affect stock prices?

What's new: Chinese startup Luckin Coffee Inc., which was delisted from the Nasdaq in June 2020 following a fake revenue scandal, has denied rumors that it ...

The company largely attributed the financial turnaround to higher average selling prices and a bigger store footprint across China. The background: In February, Luckin said that it had paid $180 million to settle its accounting fraud charges in the U.S. after being accused by the Securities and Exchange Commissions of intentionally fabricating about 2.2 billion yuan ($310 million) in retail sales and lying to investors about its fundamentals. “The company will continue to monitor capital markets developments and evaluate all avenues to deliver value to its stakeholders, but is not currently pursuing a Hong Kong listing,” Luckin said in a brief statement on Monday.

Read more about Growth stocks lead Wall Street higher after three-day slump; Nasdaq up 1.7% on Business-standard. AMC gains on strong Q1 as cinema-goers ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Your support through more subscriptions can help us practise the journalism to which we are committed. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Advancing issues outnumbered decliners for a 3.39-to-1 ratio on the NYSE and a 2.47-to-1 ratio on the Nasdaq. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) AMC Entertainment rose 3.5% after it posted better-than-expected quarterly revenue and a narrower loss, as the release of big-ticket films such as "The Batman" drew crowds to movie halls of the world's largest theater chain. Novavax Inc plunged 12.1% after the vaccine maker revealed a sharp drop in first-quarter COVID-19 research funding and said it shipped less than a fourth of the total vaccine deliveries slated for 2022. Data on Wednesday is expected to show consumer prices increased at a slower pace in April, with investors looking for clues on peaking inflation and the path of future rate hikes. "Tomorrow's CPI report is expected to show a drop in the year-on-year gain, investors are probably feeling a little relieved that maybe March was the peak of this inflationary cycle."

The stock market is in the red Tuesday, with a technical bounce at the open fading into midday trading.

The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields eased.

read more Shares of Apple Inc (AAPL.O) were higher and giving the S&P 500 and Nasdaq their biggest boost. Instead, investors are worried about everything from rates and inflation to the war in Ukraine, supply chain problems and China's COVID-19 lockdowns, Dollarhide said. A host of other concerns have added to the pressure. At the same time, bank shares fell. Register now for FREE unlimited access to Reuters.com

“There is one potential catalyzer this week, that could eventually slow down the market selloff: U.S. inflation data due Wednesday. The consumer price index is ...

A softer inflation is the only thing that could give hope to investors,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. The early rise may give traders thought that a so-called “Turnaround Tuesday” may materialize. - Futures on the Nasdaq 100NQ00,increased 189.25 points, or 1.6% to 12383. On Monday, the Dow Jones Industrial Average DJIA, -1.99%fell 654 points, or 1.99%, to 32246, the S&P 500 SPX,declined 132 points, or 3.2%, to 3991, and the Nasdaq Composite COMP,dropped 521 points, or 4.29%, to 11623. - Futures on the S&P 500ES00,gained 40.75 points, or 1%, to 4028. - Futures on the Dow Jones Industrial AverageYM00,rose 279 points, or 0.9% to 32440.