From Investing.com: 2024-04-30 13:32:06

Stocks fell on Tuesday due to wage pressure stoking inflation fears before the Fed meeting. Wall Street may see April losses of 2.4%-3.6% as traders doubt early rate cuts. U.S. labor costs rose 1.2% last quarter, raising inflation concerns. The Fed likely to keep rates steady. Investors push back rate cut expectations to September.

Eli Lilly, 3M, and Coca-Cola beat earnings expectations, while McDonald’s missed. Eli Lilly rose 5% on strong sales and guidance. 3M exceeded forecasts and promised increased dividend payout. Coca-Cola raised outlook despite stock decline. McDonald’s blamed Middle East boycott calls for poor performance.

Paramount stock fell as CEO exited amid takeover talks. HSBC profited in Q1, CEO departure sparked share rise. Paypal saw stock bump with strong Q1 results, boosting total payment volume by 14%.



Read more at Investing.com: US stocks slip as hot inflation dents rate cut hopes; Fed meeting gets underway By Investing.com