Wall Street gains with economic data and earnings in focus
Nasdaq up ~0.5%, S&P edges green, Dow slips
Cons disc leads S&P sector gainers; Industrials falls most
Euro STOXX 600 index off ~0.2%
Dollar edges up; gold ~flat; crude, bitcoin down
U.S. 10-Year Treasury yield rises to ~4.66%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET GAINS WITH ECONOMIC DATA AND EARNINGS IN FOCUS
The Nasdaq Composite .IXIC is higher early on Wednesday, while the S&P 500 .SPX and Dow .DJI are mixed and around flat as investors digest the latest economic data and quarterly business updates.
On the data front, new orders for key U.S.-manufactured capital goods rose moderately in March and data for the prior month was revised lower, suggesting business spending on equipment was likely sluggish in the first quarter.
In S&P 500 industry sectors, only 3 out of 11 are advancing with consumer discretionary .SPLRCD the biggest percentage gainer.
Tesla TSLA.O is that sector's biggest index point booster with a 16% gain as Wall Street shrugs off a lower-than-expected profit and the first drop in quarterly revenue in nearly four years on hearing the electric-car maker's prediction sales would rise this year and that it plans to roll out more affordable models in early 2025.
Hasbro HAS.O is up 11.6% after the toymaker reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates as leaner inventories, steady digital gaming revenue helped cushion a drag from softer toy demand. Shares in rival toymaker Mattel MAT.O are up more than 5% after its results.
Technology .SPLRCT is the S&P's biggest percentage point boost with the usual megacap suspects leading the charge and some help from Texas Instruments TXN.O, which is up more than 6% after its results.
The biggest laggard among S&P sectors is industrials .SPLRCI.
Elsewhere in earnings, shares of agricultural commodities trader Bunge Global BG.N are off more than 4% even as it reported a smaller-than-expected decline in first-quarter profit with good oilseed processing results in Europe and Asia versus weaker grain trading margins.
Here is a trading snapshot from 1010 ET/1410 GMT:
(Sinéad Carew)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKET POSTS:
S&P 500 INDEX: TIME FOR A TURN? - CLICK HERE
"STRONG" DOLLAR BUYING SIGNALLED FOR MONTH-END - BARCLAYS - CLICK HERE
GOLD RUSH - CLICK HERE
SHARE BUYBACKS, THANK YOU! - CLICK HERE
BOJ INTERVENTION WARNINGS? NOT LOOKING CREDIBLE - CLICK HERE
BIG EARNINGS SWINGS - CLICK HERE
EUROPE EYES HIGHER START AS EARNINGS KICK INTO HIGH GEAR - CLICK HERE
YEN ON THE BRINK, BUT TESLA PULLS BACK - CLICK HERE
Wall Street stocks gain https://tmsnrt.rs/44efLJq
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
