From Nasdaq: 2024-05-14 12:52:01

US stocks are up slightly this morning, with the Nasdaq 100 hitting a 1-month high. Fed Chair Powell hinted no rate hikes are likely soon. Approximately 81% of S&P 500 companies beat Q1 earnings estimates. Markets project a small chance of a rate cut in June or July. Overseas markets show mixed results.

Interest rates fell as bond yields declined after Powell’s comments. US T-note yield at 4.467%, down -2.0 bp. European bond yields mixed. ECB official says not to rush interest rate cuts amid wage pressures. German ZEW index shows positive economic growth outlook at 47.1.

Stock movers include Seagate, Super Micro Computer, Charles Schwab, Tesla, and more. Winners such as ON Holding AG, Paysafe, and Stellantis. Losers like Marathon Petroleum, Axon Enterprise, and Merchants Bancorp. Earnings reports from various companies on May 14. Market data provided by Barchart.



Read more at Nasdaq: Stocks See Support as Bond Yields Fall on Powell Comments