From Barchart: 2024-04-09 14:51:51

Equity Indexes Wrap:
Google stock rose on the first day of its Google Cloud Next conference, unveiling new products like a custom AI chip. Dow Intel rose 0.9% with its AI accelerator chip, while Boeing fell 1.9% due to a decrease in deliveries. Moderna climbed 6.2% after positive cancer vaccine results. Alphabet rose 1.1%.

Government’s Medicare Plan Hastens Health Care Stock Exodus:
Health care stocks saw major outflows last week after CMS announced a decrease in base payments to Medicare Advantage plans by 0.16% in 2025. Insurers anticipate higher costs and lower margins. UnitedHealth Group and Humana reported higher costs, leading to drops in share prices for health insurers.

Boeing Stock Slips as Q1 Deliveries Fall:
Boeing reported its fewest quarterly deliveries since 2021, delivering 83 planes in Q1. Various incidents led to safety concerns, prompting executive shakeups last month. Shares fell 2.4% and are down 32% this year. Investigations found missing bolts and door plug incidents, leading to a grounded fleet.

Norfolk Southern Reaches $600 Million Settlement:
Norfolk Southern announced a $600 million settlement for a 2023 train derailment in Ohio. The settlement may resolve class-action litigation. Preliminary Q1 results show $3 billion in revenue. The stock was up 1.5%, with anticipated revenue hits from a recent bridge collapse in Baltimore.

What To Expect From Google’s Cloud Next Conference:
Google is hosting its Cloud Next conference with updates on AI tech in its cloud business. Google unveiled the Axion Processor for industry-leading performance and efficiency. Bank of America highlights potential advancements in AI infrastructure and Gemini LLM capabilities. Alphabet shares rose over 1% as the conference began.

Tilray Stock Tanks Following Earnings Miss:
Tilray shares dropped 20.5% after reporting a worse-than-expected loss in Q3 fiscal 2024. Revenue was below forecasts, leading to a reduced full-year earnings outlook. Adjusted EBITDA now expected to be $60-63 million. The news sent shares into negative territory for the year.

Gold Hits Fresh Record as Markets Await Inflation Data:
Gold hit a record high of $2,380, up more than 15% since February. Bank of America predicts prices could reach $3,000/oz due to geopolitical risk and central bank demand. Gold may benefit from future interest rate cuts. China has recently increased its gold reserves significantly.



Read more at Barchart: Nasdaq Rebounds as Treasury Yields Retreat; Gold Hits Record High