Live Markets: Wall Street gains with economic data and earnings in focus

The Brink's

24/04/2024 15:23

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      Nasdaq up ~0.5%, S&P edges green, Dow slips
    

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      Cons disc leads S&P sector gainers; Industrials falls most
    

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      Euro STOXX 600 index off ~0.2%
    

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      Dollar edges up; gold ~flat; crude, bitcoin down
    

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      U.S. 10-Year Treasury yield rises to ~4.66%
    

  
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    WALL STREET GAINS WITH ECONOMIC DATA AND EARNINGS IN FOCUS
    The Nasdaq Composite  .IXIC  is higher early on Wednesday,
while the S&P 500  .SPX  and Dow  .DJI  are mixed and around
flat as investors digest the latest economic data and quarterly
business updates.
    On the data front, new orders for key U.S.-manufactured
capital goods rose moderately in March and data for the prior
month was revised lower, suggesting business spending on
equipment was likely sluggish in the first quarter.
    In S&P 500 industry sectors, only 3 out of 11 are advancing
with consumer discretionary  .SPLRCD  the biggest percentage
gainer. 
    Tesla  TSLA.O  is that sector's biggest index point booster
with a 16% gain as Wall Street shrugs off a lower-than-expected
profit and the first drop in quarterly revenue in nearly four
years on hearing the electric-car maker's prediction sales would
rise this year and that it plans to roll out more affordable
models in early 2025.  
    Hasbro  HAS.O  is up 11.6% after the toymaker reported a
smaller-than-expected drop in first-quarter sales and handily
beat profit estimates as leaner inventories, steady digital
gaming revenue helped cushion a drag from softer toy demand.
Shares in rival toymaker Mattel  MAT.O  are up more than 5%
after its results. 
    Technology  .SPLRCT  is the S&P's biggest percentage point
boost with the usual megacap suspects leading the charge and
some help from Texas Instruments  TXN.O , which is up more than
6% after its results.
    The biggest laggard among S&P sectors is industrials
 .SPLRCI . 
    Elsewhere in earnings, shares of agricultural commodities
trader Bunge Global  BG.N  are off more than 4% even as it
reported a smaller-than-expected decline in first-quarter profit
with good oilseed processing results in Europe and Asia versus
weaker grain trading margins. 
    Here is a trading snapshot from 1010 ET/1410 GMT:
    
    
    (Sinéad Carew)
     *****    
    
    
    FOR WEDNESDAY'S EARLIER LIVE MARKET POSTS:
    
    S&P 500 INDEX: TIME FOR A TURN? - CLICK HERE
    
    "STRONG" DOLLAR BUYING SIGNALLED FOR MONTH-END - BARCLAYS -
CLICK HERE
    
    GOLD RUSH - CLICK HERE
    
    SHARE BUYBACKS, THANK YOU! - CLICK HERE
    
    BOJ INTERVENTION WARNINGS? NOT LOOKING CREDIBLE - CLICK HERE
    
    BIG EARNINGS SWINGS - CLICK HERE
    
    EUROPE EYES HIGHER START AS EARNINGS KICK INTO HIGH GEAR -
CLICK HERE
    
    YEN ON THE BRINK, BUT TESLA PULLS BACK  - CLICK HERE 


 
    
    
    
    
    
    

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