Stocks are slightly lower with positive earnings reports, Apple and Nvidia leading gains

From Nasdaq: 2024-05-28 11:42:58

US stock indexes are slightly lower, with the Dow Jones at a 2-1/2 week low. Minneapolis Fed President Kashkari’s comments on the economy are slightly hawkish for Fed policy. Apple is up over +1% after China iPhone shipments surged +52%. Nvidia is up over +4% following strong Q1 earnings and forecast.

Stocks rally with positive Q1 earnings results beating estimates. Energy Transfer LP acquires WTG Midstream for $3.25 billion. Verizon agrees to buy US Cellular Corp’s wireless operations for $2.4 billion. Markets await clues on Fed interest rate cuts from this Friday’s April PCE core deflator data.

US home prices show a solid +7.38% y/y increase. Investors are skeptical about a rate cut at the upcoming FOMC meetings. European government bond yields decline, impacting US T-note yields. The ECB maintains a cautious approach to monetary policy but is confident in meeting inflation targets. Stocks move higher in response to strong earnings and M&A activity.

Apple and Nvidia lead stock gainers with strong performance. Norwegian Cruise Line jumps more than +4% on upgrade. Dell Technologies rises after positive analyst coverage. Arcturus Therapeutics climbs +16% on positive clinical trial results. Insmed soars over +121% on successful late-stage study. Zscaler falls over -5% after downgrade, Southwest Airlines and DraftKings also drop.

Earnings reports to watch for on 5/28 include Box Inc, Cava Group Inc, Digital Turbine Inc, Golar LNG Ltd, and more. Stock market news from Barchart provides valuable insights for investors. Ensure to stay updated on the latest developments to make informed decisions in the market.



Read more at Nasdaq: Stocks See Mild Pressure from Hawkish Fed Comments