Stocks slightly higher based on positive US manufacturing data and earnings beat

From Nasdaq: 2024-06-18 11:39:54

Stock indexes are slightly higher today, with S&P 500 up +0.17%, Dow Jones up +0.24%, and Nasdaq 100 up +0.03%. Positive US May manufacturing production data boosted stocks amid concerns about weak retail sales. May retail sales rose +0.1%, below expectations. Q1 earnings reports show companies beating estimates.

Overseas, Euro Stoxx 50 is up +0.55%, Shanghai composite up +0.48%, and Nikkei Stock 225 Index up +1.00%. Interest rates see 10-year T-notes up +5 ticks, German bund yield down -2.2 bp. Q1 earnings up +7.1% year-on-year. ECB updates forecasts every three months.

Micron Technology leads S&P 500 gains, up +4%. Qualcomm up +2% as Microsoft readies new products. La-Z-Boy reports sales exceeding expectations, up more than +18%. Celldex Therapeutics rises after coverage initiation. Kroger shares climb, while Silk Road Medical sees substantial gain.

Best Buy shares rise after training employees for new product launch. Lennar forecasts lower than expected new orders for Q3. Tesla down as CEO announces stock-based compensation plan. Boeing leads Dow Jones losers on quality inspector’s claims. Philip Morris down after halting sales due to regulatory concerns.

Earnings reports today feature America’s Car-Mart Inc, KB Home, and Patterson Cos Inc. Stock market remains active and dynamic with various companies seeing significant price movements. Stay updated with the latest news and developments for informed investment decisions.



Read more at Nasdaq: Stocks Post Modest Gains on Mixed US Economic Reports