From Nasdaq: 2024-05-01 16:08:28

The market is mixed following the FOMC announcement, with S&P 500 down -0.28%, Dow Jones up +0.29%, and Nasdaq 100 down -0.23%. Corporate earnings have been mixed, with CVS Health and Starbucks reporting declines while Bio-Techne, Garmin, and Amazon have seen gains.

Q1 earnings beat expectations, with estimates revised to a +4.7% increase. Weekly US MBA mortgage applications fell -2.3%. US Apr ADP employment change rose +192,000 while US Mar JOLTS job openings hit a 3-year low. Overseas stock markets are lower.

US Apr ISM manufacturing index fell to 49.2, below expectations. US Mar construction spending fell -0.2% unexpectedly. The market anticipates a potential rate cut of -25 bps following the FOMC meeting. Overseas, European government bond yields are higher while US stock movers show mixed results with companies like CVS and Starbucks experiencing declines while Bio-Techne and Garmin see gains.

Earnings reports for May 1, 2024 include companies like eBay, Etsy, Pfizer, Yum! Brands, and more. The market remains volatile following the FOMC meeting and various economic indicators impacting trading. Buyers need to stay updated on the latest financial news.



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