Stocks mixed, S&P 500 at 3-week high, earnings beat expectations, bond yields fall.

From Nasdaq: 2024-05-07 18:24:10

The S&P 500, Dow Jones, and Nasdaq closed mixed Tuesday, with the S&P 500 hitting a 3-week high. FMC Corp rose over 9% after revenue forecast beat consensus, while Disney dropped 9% on lower Disney+ subscribers. Q1 earnings beat expectations, with a +6.5% y/y increase. Fed cautious on rate cuts, futures pricing at 10%-34% for near-term cuts. Overseas markets rose. Eurozone retail sales increased, but German factory orders fell. German trade news better than expected. ECB member hints at monetary easing in June. US stock movers include FMC, GlobalFoundries, IFF, FIS, KVUE, IP, SYM, PODD, BLDR, DIS, DDOG, J, AXON, PLTR, TSLA, DASH. Earnings reports for 5/8/2024 include ABNB, ATO, BR, CE, CPAY, EMR, FOXA, NWSA, NI, STE, UBER.



Read more at Nasdaq: Stocks See Support as Bond Yields Fall and Earnings Impress