Stock Market Overview
Sun, May 12th, 2024
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Stocks Shake off Mostly Negative News to Close Mildly Higher
Barchart - Fri May 10, 3:17PM CDT
The S&P 500 Index ($SPX) (SPY) Friday rose +0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) rose +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.26%.
US stocks on Friday gained support from chip stocks and generally positive Q1 earnings results. Q1 earnings are expected to climb +6.5% y/y, well above the pre-earnings season estimate of +3.8%. According to data compiled by Bloomberg Intelligence, about 81% of reporting S&P 500 companies have beaten Q1 earnings estimates.
Stocks were undercut Friday by higher T-note yields and a disappointing consumer sentiment report that showed both weaker consumer sentiment and higher inflation expectations.
The University of Michigan’s preliminary-May US consumer sentiment index fell -9.8 points to a 6-month low of 67.4, which was weaker than market expectations for a -1.0 point decline to 76.2.
Also, US consumers’ inflation expectations rose. The University of Michigan’s May US 1-year inflation expectatio... Read more
Commuter rail service in northeast Spain has been disrupted by theft of copper cables near Barcelona
AP - 1 hour ago
Spanish rail authorities say commuter rail service serving Barcelona and northeastern Spain has suffered major disruption because of the theft of copper cables from a train installation
3 Natural Gas Stocks to Invest in Rising AI Data Center Demand
Barchart - 1 hour ago
As AI technology fuels data center demand, leading investment bank Goldman Sachs has identified three natural gas stocks that could be ideal buys now.
The Stock Market Is Going To Crash, Or Is This Time Different?
Barchart - 1 hour ago
Current market conditions echo the volatility seen before historic crashes like in 1987, driven by rising bond yields and economic uncertainties, urging investors to focus on long-term strategies rather...
Broadcom Looks Deeply Undervalued Based on its Strong Free Cash Flow
Barchart - Sun May 12, 10:47AM CDT
Broadcom stock still looks very cheap, given its free cash flow and related FCF margins. AVGO stock could be worth over 22% more at $1,626 per share using its existing FCF margins and a 3% FCF yield metric....
Rebels kill at least 4 people during an attack on a Central African Republic mining town
AP - Sun May 12, 10:31AM CDT
Authorities say that anti-government rebels in the Central African Republic have carried out an attack in a village known for gold mining
This ‘Magnificent 7’ Stock Fell Out With Analysts After Earnings, But Is It Time to Sell?
Barchart - Sun May 12, 8:15AM CDT
Several analysts lowered Meta's target price following its Q1 earnings. Is the 'Magnificent 7' stock a buy, despite the pessimism?
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