They include inflation, commodity costs and rising interest rates.

San Diego, California-based Qualcomm is looking to diversify to sectors such as automotive, though its handset chip business makes up more than half of total sales. The Biden administration and allies of the president are pushing for the public to “ignore” the definition of a recession ahead of Thursday’s GDP report. John Fish, chair of the Real Estate Roundtable, says a slew of long term issues are facing the housing industry. They include inflation, commodity costs and rising interest rates.

stock market news today

West Texas Intermediate crude oil fell as much as much as 2.90% to $101.65 per barrel. Brent crude, oil’s international benchmark, fell as much as 2.64% to $104.31. The Federal Forex news Reserve is expected to aggressively hike interest rates by at least 50 basis points. The Federal Reserve, led by Jerome Powell, raised interest rates earlier this month.

Stock Futures Slip Ahead Of Tech Earnings, Gdp Data

The stock market rally rose Wednesday, led by big-tech earnings, then added to gains on the Fed rate hike decision and Fed chief Powell’s comments. The Federal Open Market Committee meets on Tuesday and Wednesday, with an interest rate decision to be revealed at 2 p.m. US stocks were higher early Wednesday as investors await word from the Federal Reserve following its FOMC meeting conclusion in the early afternoon on an expected 75-basis point rate hike. Both Alphabet and Microsoft whiffed on the top and bottom lines when they reported earnings after the bell Tuesday. Microsoft did give some decent guidance for the year ahead.

Also, Apple and many others are still reporting this week, along with GDP data and other key economic reports. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session. LRCX stock fell slightly after better-than-expected quarterly results. Qualcomm stock fell modestly early Thursday on weak revenue guidance. Meta stock retreated solidly after the Facebook parent missed on earnings, reported its first-ever revenue decline and guided low.

Robinhood Faces Backlash As Gamestop Trading Frenzy Continues

This brings the spread between them to -20 basis points. The negative spread indicates that investors still have fears of a recession. The U.S. Federal Reserve’s 0.75 percentage point hike in interest rates, and Fed Chair Jerome Powell’s comments dismissing chances of a recession gave markets some relief. First-quarter earnings results continue to roll-in, and so far 77% of companies that have reported so far have beat profit estimates. With a limited number of good-looking stocks in position, investors may want to increase exposure via broad-market or sector ETFs.

  • We sell different types of products and services to both investment professionals and individual investors.
  • Brent crude, oil’s international benchmark, fell as much as 2.64% to $104.31.
  • A non-bank lender backed by Gautam Adani, Asia’s richest person, is planning to raise at least 15 billion rupees ($188 million) in an initial public offering in Mumbai that could take place as early as 2024.
  • The brokerage firm has retained the positive view on the auto sector.
  • Our website offers information about investing and saving, but not personal advice.

For reference, investors had assigned a 24.1% chance a week ago. The rupee declined 13 paise to close at 79.91 against the US dollar on Wednesday, following risk-off sentiment among investors ahead of the outcome of the US Federal Reserve meeting. Oil prices edged up on Thursday, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States.

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