From Nasdaq: 2024-05-07 12:56:28

US stock indexes are slightly up with S&P 500 and Nasdaq 100 at 3-week highs and Dow Jones at a 4-week high. Expectations of Fed rate cuts are positive, offsetting mixed corporate news. Earnings season results better than expected, with Q1 earnings expected to rise +6.5% y/y. Overseas markets are up, 10-year T-note yield at a 3-1/2 week low. European government bond yields are lower, with Eurozone Mar retail sales strong but German Mar factory orders weak. ECB member hints at reducing monetary restriction in June. Stock movers include FMC Corp up +8% due to revenue forecast, while Builders FirstSource down -15% after Ebitda forecast below consensus and Walt Disney down -9% after fewer-than-expected Q2 Disney+ subscribers. Other movers include GlobalFoundries up more than +9% and Datadog down more than -9%. Earnings reports today include companies like Disney and Wynn Resorts.



Read more at Nasdaq: Stocks See Support on Lower Bond Yields and Strong Earnings