From Nasdaq: 2024-05-10 17:53:18

The S&P 500, Dow Jones, and Nasdaq all saw gains Friday due to chip stocks and positive Q1 earnings. Over 81% of S&P 500 companies have beaten Q1 earnings estimates. The University of Michigan reported weaker consumer sentiment and higher inflation expectations. Market expectations for Fed rate cuts decreased after hawkish comments from Fed officials. President Biden is expected to announce new tariffs on Chinese imports. Overseas markets closed higher, with strong performances from Euro Stoxx 50, Shanghai Composite, and Nikkei Stock Index.

Interest rates saw decreased T-note prices due to hawkish Fed remarks. European government bond yields were higher. Nasdaq 100 saw notable gains from chip stocks like Micron Technology and Applied Materials. Novavax rose by 98% after signing a $1.2 billion licensing agreement with Sanofi. 3M saw a rise after positive restructuring efforts. Yelp fell due to a downward revision in guidance and macro headwinds for restaurants.

Earnings reports from various companies on 5/10/2024 highlighted significant performance in the stock market. These include companies like AMC Networks, 4D Molecular Therapeutics, American Realty Investors, and many more.Market watchers will be keeping an eye on these developments and their impact on stock performance in the coming days.



Read more at Nasdaq: Stocks Shake off Mostly Negative News to Close Mildly Higher