Apr 25, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) NASDAQ Rises for 3rd Day
Futures Nudge Higher Mid-Week Wednesday
Strong Earnings Propel Stocks Higher
Stocks Progress as Earnings Pour In
Stocks Progress as Earnings Pour In Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Wednesday, April 24, 2024
Higher Rates Offset Strong Earnings, Stocks Fall Advertisment
Stocks were lower on Wednesday as interest rate fears outweighed a strong slate of corporate earnings that elevated equities in recent days.
The Dow Jones Industrials dropped 144.83 points by noon to 38,358.86.
The S&P 500 index ditched off 19.27 points to 5,051.28.
The
NASDAQ Composite let go of 43.8 points to 15,658.05.
Investors briefly pushed aside worries tied to the Federal Reserve's monetary policy moving forward following a slate of quarterly earnings.
Tesla climbed more than 11% after the company announced a renewed push into"more affordable" electric vehicle models. However, the megacap tech name and retail investor favorite missed expectations on both lines in the latest quarter. Boeing turned lower after initially popping on first-quarter results.
More than 25% of S&P 500 have reported earnings thus far. Of those companies, 79% have beaten earnings estimates,
Prices for the 10-year Treasury sagged, lifting yields to 4.65% from Tuesday's 4.60%. Treasury prices and yields move in opposite directions.
Oil prices deleted 40 cents to $82.96 U.S. a barrel.
Gold prices dulled $5.40 to $2,336.70 U.S. an ounce.
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Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
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