Stocks are down overall despite Nvidia's strong earnings, with mixed performance from other companies.

From Nasdaq: 2024-05-23 14:30:24

US stock indexes like the S&P 500 and Dow Jones are down despite Nvidia’s reported blowout earnings. Overall, Q1 earnings are above expectations, with 81% of S&P 500 companies beating estimates. Jobless claims fell, but initial unemployment claims are lower. Abroad, Europe’s manufacturing data is stronger, and major US stocks like Dell and Nvidia are up. Unfortunately, Boeing and Medtronic are down.
Interest rates have moved higher despite a generally positive earnings season. US 10-year notes are down after stronger than expected jobless claims. European bond yields have also risen. Overseas, the Eurozone’s economy is showing signs of strength, with positive manufacturing data and consumer confidence ticking up.
In US stock news, Nvidia is up over 9% after reporting better than expected Q1 revenue. Dell and Synopsys are also up after positive earnings reports. On the other hand, companies like Arista Networks and GlobalFoundries are leading the losers. Monro is down after disappointing Q4 comparable sales, while Live Nation Entertainment faces a lawsuit over ticket sales.



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