Stock Market Today: S&P 500 cuts some losses but ends lower on Meta-led tech slump

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 86 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 38%
  • Publisher: 53%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Stock Market Today: S&P 500 cuts some losses but ends lower on Meta-led tech slump

Investing.com-- The S&P 500 closed lower, but well off session lows Thursday as Meta cut come losses, though rising Treasury yields on economic data showing slowing growth, but sticky inflation, forced traders to push out bets on a first rate cut to December.grew by just 1.6% in the first quarter, on an annualised basis, much slower than expected, while a core underlying measure of inflation surprised to upside in Q1, rising 3.7%, pushing out rate-cut bets.

The make up of the data wasn't as soft, as inventories and foreign trade had a 1.1% drag on GDP in Q1, and "domestic demand growth proceeded at a strong pace of +2.8% annualized," Goldman Sachs said in note.) stock slid 10.6% to a near three-month low, after the Facebook parent forecast weaker-than-expected revenue for the second quarter due to higher spending on artificial intelligence. The stock had fallen as much as 16% intraday.

The guidance largely offset stronger-than-expected first-quarter earnings, and set a dour tone for upcoming earnings from the company’s major technology peers - specifically Microsoft stock fell 7% after the heavy machinery manufacturer reported a mixed first quarter of 2024, with earnings surpassing analysts' expectations but revenue falling short.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 450. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Stock Market Today: S&P 500 closes lower as Nvidia leads tech stumbleStock Market Today: S&P 500 closes lower as Nvidia leads tech stumble
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 closes lower as Powell signals higher for longer ratesStock Market Today: S&P 500 closes lower as Powell signals higher for longer rates
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 extends losing streak on Nvidia, Netflix slumpStock Market Today: S&P 500 extends losing streak on Nvidia, Netflix slump
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 ekes out gain on Tesla rally but spike in yields biteStock Market Today: S&P 500 ekes out gain on Tesla rally but spike in yields bite
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 in back-to-back gains as tech reigns supremeStock Market Today: S&P 500 in back-to-back gains as tech reigns supreme
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 rallies on tech strength ahead of big tech earningsStock Market Today: S&P 500 rallies on tech strength ahead of big tech earnings
Källa: Investingcom - 🏆 450. / 53 Läs mer »