Stock indexes rise with positive corporate news, but negative economic data presents concerns for Fed policy.

From Nasdaq: 2024-05-24 12:43:38

US stock indexes are higher today, with the S&P 500, Dow Jones, and Nasdaq all showing gains. Positive corporate news is driving the market, with companies like Deckers Outdoor and Ross Stores reporting strong earnings. However, negative US economic news regarding capital goods orders is a concern for Fed policy.

Q1 earnings results have been positive, with an expected increase of 7.1% year over year. The markets are pricing in low chances of a rate cut in upcoming FOMC meetings. Overseas markets are lower, with European government bond yields falling. Factors like persistent inflation and expected wage growth are affecting market sentiment.

In terms of individual stock movers, companies like Deckers Outdoor, Ross Stores, and Dell Technologies are seeing significant gains. On the other hand, Intuit and Workday are facing losses due to weaker forecasts. Insider selling at Salesforce and a rival’s successful product launch are also impacting stock performance. Earnings reports from companies like Autodesk and RH are also being closely watched by investors.



Read more at Nasdaq: Stocks Rebound as Consumers Temper Inflation Expectations