Rate-cut jitters pressure Wall Street; key numbers on tap
==========
Wall Street futures softened as uncertainty around how long the Federal Reserve could keep interest rates elevated weighed on investor sentiment. Megacaps such as Alphabet, Microsoft, and Nvidia slipped in trading before the bell. Rising bond yields reflect expectations for higher interest rates, which means costlier financing and smaller profit margins for companies. Investors await the second estimate for first-quarter gross domestic product and jobless claims data. The benchmark S&P 500 index is on track for its biggest weekly drop in six, while the blue-chip Dow closed at a four-week low on Wednesday. Markets now expect the Fed's first 25-basis-point rate cut only in November or December. Dow e-minis were down 329 points, S&P 500 e-minis were down 20.5 points, and Nasdaq 100 e-minis were down 56 points. Dow component Salesforce forecast second-quarter profit and revenue below Street estimates. HP gained 4.9% after beating Wall Street estimates for second-quarter revenue. Tesla's shares gained 0.9% after Reuters reported the company was preparing to register its 'Full Self-Driving' software in China. American Eagle Outfitters dropped 7.4% after posting downbeat quarterly revenue. Dollar General added 6.3% after posting upbeat first-quarter sales, but Kohl's slumped 22% after cutting its annual sales and profit forecasts. Moderna added 2.7% after a report said the U.S. government is nearing an agreement to fund a late-stage trial of the drugmaker's pandemic bird flu vaccine. After the U.S. switched to faster trade settlements for securities, market participants reported some processing bumps.
#WallStreet #FederalReserve #InterestRates #InvestorSentiment #BondYields #GrossDomesticProduct #JoblessClaims #S&p500 #Dow #RateCut #Earnings #Tesla #AmericanEagleOutfitters #DollarGeneral #Kohl's #Moderna
https://finance.yahoo.com/news/futures-slip-rate-cut-uncertainty-102436617.html
Yahoo Finance /
npub1j0e…3yhd
2024-05-30 14:27:18
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-05-30 14:27:18Event JSON
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"content": "Rate-cut jitters pressure Wall Street; key numbers on tap\n==========\n\nWall Street futures softened as uncertainty around how long the Federal Reserve could keep interest rates elevated weighed on investor sentiment. Megacaps such as Alphabet, Microsoft, and Nvidia slipped in trading before the bell. Rising bond yields reflect expectations for higher interest rates, which means costlier financing and smaller profit margins for companies. Investors await the second estimate for first-quarter gross domestic product and jobless claims data. The benchmark S\u0026P 500 index is on track for its biggest weekly drop in six, while the blue-chip Dow closed at a four-week low on Wednesday. Markets now expect the Fed's first 25-basis-point rate cut only in November or December. Dow e-minis were down 329 points, S\u0026P 500 e-minis were down 20.5 points, and Nasdaq 100 e-minis were down 56 points. Dow component Salesforce forecast second-quarter profit and revenue below Street estimates. HP gained 4.9% after beating Wall Street estimates for second-quarter revenue. Tesla's shares gained 0.9% after Reuters reported the company was preparing to register its 'Full Self-Driving' software in China. American Eagle Outfitters dropped 7.4% after posting downbeat quarterly revenue. Dollar General added 6.3% after posting upbeat first-quarter sales, but Kohl's slumped 22% after cutting its annual sales and profit forecasts. Moderna added 2.7% after a report said the U.S. government is nearing an agreement to fund a late-stage trial of the drugmaker's pandemic bird flu vaccine. After the U.S. switched to faster trade settlements for securities, market participants reported some processing bumps.\n\n#WallStreet #FederalReserve #InterestRates #InvestorSentiment #BondYields #GrossDomesticProduct #JoblessClaims #S\u0026p500 #Dow #RateCut #Earnings #Tesla #AmericanEagleOutfitters #DollarGeneral #Kohl's #Moderna\n\nhttps://finance.yahoo.com/news/futures-slip-rate-cut-uncertainty-102436617.html",
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