tl;dr
Stock index futures were in the red on Thursday, a day after a couple of disappointing earnings report weighed on the market. S&P 500 futures (SPX) -0.3%, Nasdaq 100 futures (US100:IND) -0.4%, and Dow futures (INDU) -0.2%. The 10-year Treasury yield (US10Y) rose 2 basis points to 4.52%. The 2-year y...
Stock index futures were in the red on Thursday, a day after a couple of disappointing earnings report weighed on the market. S&P 500 futures (SPX) -0.3%, Nasdaq 100 futures (US100:IND) -0.4%, and Dow futures (INDU) -0.2%. The 10-year Treasury yield (US10Y) rose 2 basis points to 4.52%. The 2-year yield (US2Y) rose 1 basis point to 4.86%. "Markets finally ran out of steam yesterday, with the S&P 500 narrowly ending its run of four consecutive gains," Deutsche Bank's Jim Reid said. U.S. stocks on Wednesday ended mixed, as a gain in big banks countered a post-earnings slide in Uber (UBER) and a decline in Intel (INTC) sparked by a guidance cut. Uber (UBER) failed to impress investors after its 2024 gross bookings guidance fell short of expectations. Airbnb (ABNB) dropped 8% in premarket trade as its Q2 revenue guidance came short of the high expectations. Arm (ARM) also slumped 8% in premarket trade, after the British chip design firm issued guidance that failed to match up to the lofty expectations. "The pause for breath was partly due to some disappointing earnings releases, but it also comes on the back of its strongest 4-day rally since November, so it was always going to be hard to maintain that pace," Reid added. Rate cuts are also back in the limelight with the Bank of England's policy decision expected to come at 7:00 am ET, a day after Sweden's central bank became the second major economy to cut interest rates. On the U.S. economy side, markets are waiting for the initial jobless claims report before the bell. Economists forecast a rise to 212K. Initial claims are better at flagging labor market upturns than downturns, Pantheon Macroeconomics said. "Marked labor market downturns in the past few decades have seen payrolls start to weaken either before or at the same time that claims have increased," said Pantheon Macro. The results of a $25B, 30-Year bond auction is due during market hours, while the Fed's balance sheet will land after market close.
More about Uber Technologies Inc
Uber Technologies Inc Summary Uber Technologies Inc
Uber Technologies, Inc., commonly known as Uber, is an American technology company. Its services include ride-hailing, food delivery (Uber Eats), package delivery, couriers, freight transportation, and, through a partnership with Lime, electric bicycle and motorized scooter rental. The company is based in San Francisco, California.
Trade & Services
Sector: Services-Business Services, NEC
Market Cap: 138.74 billion
Current Price: $76.32
Dividend Yield: None
Price/Earnings Ratio: 0.87
EPS: $18.31
Beta: 0.0506
Volume: 37,281,001,000
52-Week Range: $87.77 - $1.269
Market Cap/Sales: 0.154
More about Intel Corporation
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Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in Silicon Valley. It is the world's largest semiconductor chip manufacturer by revenue, and is the developer of the x86 series of microprocessors, the processors found in most personal computers (PCs).
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 127.71B
Current Price: $30.93
Change: 0.5 ( 0.97%)
PE Ratio: 13.11
EPS: $0.0736
Shares Outstanding: 5.52B
Next Earnings Date: 40.31
Dividend Yield: -0.717
Beta: 0.086
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More about Airbnb Inc
Airbnb Inc
Airbnb, Inc. is an American company that operates an online marketplace for lodging, primarily homestays for vacation rentals, and tourism activities, based in San Francisco, California.
Industry: TRADE & SERVICES
Sector: SERVICES-TO DWELLINGS & OTHER BUILDINGS
Market Cap: 101.53 billion
Current Price: $22.07
Dividend Yield: None
P/E Ratio: 7.24
EPS: 15.57
Beta: 0.483
Volume: 9,917,000,000
Revenue: $152.82 billion
Net Income: $2.71 billion
Debt to Equity: 0.166
More about Arm Holdings plc
Company: Arm Holdings plc
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 128.5 billion
Current Price: 1388.78
Dividend Yield: None
P/E Ratio: 0.09
EPS: 2.864
Beta: 0.0289
Volume: 2,938,000,000
50-Day Moving Average: 106.74
200-Day Moving Average: -0.549
RSI: 0.138
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