With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
Shares of Nucor Corporation (NYSE:NUE) fell sharply during Tuesday’s session after the company reported worse-than-expected quarterly financial results.…
Stocks surged as weak economic data raised hopes for Fed rate cut. S&P 500 up 1.2%, Nasdaq 100 up 1.5%, Dow Jones up 0.6%. Spotify shares jump 17% on earnings.
Xerox reported disappointing fiscal Q1 results with a 12.4% decline in sales. Adjusted EPS also missed expectations. Company expects steady revenue and free cash flow in FY24.
The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the “Magnificent 7,” companies that fueled much of the market’s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.