S&P 500 pauses after recent gains as investors assess rate path
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Intel down after Q2 revenue warning
Uber falls on weak Q2 gross bookings forecast
Indexes: S&P 500 up 0.08%, Nasdaq off 0.24%, Dow up 0.17%
Updated at 11:18 am ET/1518 GMT
By Sruthi Shankar and Shristi Achar A
May 8 (Reuters) -The benchmark S&P 500 was broadly unchanged on Wednesday, pausing after a recent rally as investors assessed the outlook for U.S. monetary policy, while Uber's shares dropped on a downbeat forecast.
Uber UBER.N shed nearly 9%, becoming the biggest decliner on the S&P 500, after the ride-hailing platform forecast second-quarter gross bookings below expectations and posted a surprise first-quarter loss.
Tesla TSLA.O fell 1.5% after Reuters reported U.S. prosecutors were examining whether the company committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities.
Other megacap stocks such as Nvidia NVDA.O, Amazon AMZN.O and Alphabet GOOGL.O slipped as the 10-year Treasury yield US10YT=RR edged up after five days of declines.
That dampened optimism spurred by a positiveearnings season and softer-than-expected labor market data that had temperedconcerns about the Federal Reserve keeping interest rates higher for longer.
"We've had a lot of data that has come in soft, unexpectedly, and that's fueled a bit of fire towards potentially a September rate cut," said Alex McGrath, chief investment officer for NorthEnd Private Wealth.
"The bigger question becomes what the Fed is going do when the macro data starts to deteriorate and inflation is not back to the target. Do they stick to their guns or do they ride to the rescue and start cutting rates? That's kind of the pickle we're looking at going into the summer months."
With the earnings season nearing an endand only a few economic data reportsexpected this week, investors are awaiting next week's consumer prices data to gauge if inflation is cooling.
Traders are currently pricing in a 67% chance of the Fed cutting rates by at least 25 basis points in September, according to the CMEGroup's Fedwatch tool, up from about 54% a week ago.
Investors will monitor comments from Fed speakers - Vice Chair Philip Jefferson, Boston President Susan Collins and Governor Lisa Cook during the day - for fresh clues on the U.S. central bank's policy path.
By 11:18 a.m. ET, the Dow Jones Industrial Average .DJI rose 65.48 points, or 0.17%, to 38,949.74 - on track for a sixth consecutive day of gains.
The S&P 500 .SPX lost 4.28 points, or 0.08%, to 5,183.46, threatening to break its longest winning streak since March, while the Nasdaq Composite .IXIC lost 38.46 points, or 0.24%, to 16,294.10.
Intel INTC.O fell 2.9% after warning of a saleshit from theU.S. revoking someof the chipmaker's export licenses for China.
Tripadvisor TRIP.O tumbled 29% after the online travel agency ruled out a possible sale at this time and posted a surprise quarterly loss.
Uber rival Lyft LYFT.O climbed 9.2% after projecting higher-than-expected gross bookings and a core profit for the current quarter.
Declining issues outnumbered advancers by a 1.48-to-1 ratio on the NYSE and a 1.39-to-1 ratio on the Nasdaq.
The S&P 500 posted 25 new 52-week highs and two new lows while the Nasdaq recorded 61 new highs and 67 new lows.
Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
