Stock Indexes Wrap Up: Apple, Big Tech Boost Nasdaq; Financials sank under the weight of Fed uncertainty.

2 hours 41 minutes ago

Dow

apple (AAPL) rose 7.3 percent, its biggest one-day jump since November 2022, when it closed at a record high. Analysts presented their reviews. of yesterday’s WWDC keynote, in which the iPhone maker Apple Intelligence unveiled.its custom intelligence system.

Microsoft (MSFT) increased by 1.1 percent between Questions about results Apple’s new partnership with OpenAI, in which Microsoft has invested billions of dollars.

Boeing (B.A) fell 2.5 percent after the company reported. Deliveries and orders dropped. in May.

S&P 500

General Motors (GM) rose 1.4 percent after its board gave the go-ahead. $6 billion share buyback program.

Tech and communications companies Meta (Meta) and the alphabet (Google) increased by 1% and 0.8% respectively.

Eli Lilly (LLY) rose 0.1% after the FDA advisory panel late yesterday. Unanimously recommended The approval of its Alzheimer’s drug Duanemab.

Paramount Global (of theIt fell 7.9% amid reports that Shari Redstone, who owns a controlling stake in the entertainment company, has ended months-long merger talks with Skydance Media.

Financial stocks trailed the broader market amid considerable uncertainty about the outlook for monetary policy in Wednesday’s Fed decision and inflation report. State Street (STT) fell 4.3 percent, while Citigroup (C) 3.7 percent and American Express (AXP) fell 3.3 percent.

Tesla (TSLAIt fell 1.8 percent ahead of the company’s annual shareholder meeting on Thursday when investors will vote on whether to reinstate Elon Musk. A $56 billion pay packagewhich was struck down by a Delaware court earlier this year.

Nasdaq 100

Crowd Strike (CRUD) rose 2.7%, continuing its climb from last week Strong earnings report And his Inclusion in the S&P 500.

PayPal (PYPL) fell 3.5 percent as investors digested yesterday’s Apple Pay updates, including Apple’s announcement Integrate Buy Now, Pay Later Verify Supplier (AFRMWith Apple Pay.

Starbucks (Sex) fell 2.1% as it launched its “Pairings Menu,” joining a growing list of Price-driven fast food chains To attract cash-strapped consumers.

Strong Treasury auction spurs bond rally

4 hours ago

Treasury yields fell sharply on Tuesday after a surprisingly strong auction of 10-year Treasury notes.

The highest yield on the 10-year note auctioned by the U.S. Treasury on Tuesday was 4.438%, about 3 basis points below the yield on the 10-year note trading in secondary markets when the auction results were published. That caused the 10-year yield to fall sharply to 4.43 percent, where it held for about 30 minutes before falling to around 4.41 percent.

Issuance of Treasury Bills, Notes and Bonds Their prices move inversely.. On Tuesday, the $100 par note sold for $99.49, the highest auction price for the 10-year note since January when interest rates were higher and the par note sold for $103.82. Tuesday’s auction, thus, reflected surprisingly strong demand for fresh US debt.

The results were most surprising. Yesterday’s CPI report And Interest rate decision From the Federal Reserve, these two can make big moves in the bond market.

Tuesday’s bond rally erased last week’s losses. Strong jobs reportwhich raised doubts about the path of monetary policy and raised bond yields.

Confirm the stock gets a lift from Apple Pay inclusion.

4 hours 47 minutes ago

Verify holdings (AFRM) shares rose on Tuesday after Apple (AAPL) announced the company. Buy Now Pay Later (BNPL) Loans will be available for Apple Pay users.

In an email to Investopedia, Affirm said, “We are excited to announce that US consumers checking out online or in-app with Apple Pay on iPhone and iPad are eligible transactions with Affirm. This gives customers additional payment options, and offers the ease, convenience and security of Apple Pay.” The company noted that it will provide more details in the future.

Said affirmatively Securities and Exchange Commission (SEC) filing that it “does not expect this partnership to have a material impact on revenues or overall business volume in fiscal 2025.”

Afram Holdings shares rose more than 6% in intraday trading on Tuesday but were still down 33% in 2024.

Bill McCall

Apple stock hits record high on expectations of AI-fueled growth

5 hours 38 minutes ago

apple (AAPLShares hit a record high in intraday trading on Tuesday, a day after the iPhone maker held a long-awaited rally. Worldwide Developers Conference (WWDC) Keynote.

Shares rose more than 6% Tuesday afternoon, bringing the stock’s year-to-date return to nearly 7%.

The iPhone maker kicked off WWDC with the announcement of its latest operating system, iOS 18, and Apple Intelligence, a personal intelligence system that contextualizes content on each user’s device to provide personalized intelligent assistance. uses as Apple also announced. Partnership Supported by Microsoft (MSFT) to integrate OpenAI Chat GPT In iOS 18 later this year.

JPMorgan analysts said, “Apple’s keynote at WWDC showed significant enhancements to the feature set of native apps and third-party apps with the integration of A(pple)I (intelligence) to give us the iPhone 16 launch.” An expected upgrade cycle can be assured and the release of iOS18 in the fall of this year.”

See Here For more on what analysts are saying about Apple’s foray into AI.

Naomi Buchanan

As Boeing orders slow, deliveries fall in May

6 hours 27 minutes ago

Boeing (B.A) shares fell on Tuesday after the jet maker reported that deliveries fell by more than half in May from a year earlier, as the firm continued to reel from January’s door plug blowout.

Boeing delivered 24 planes last month, down from 50 in May 2023. Nineteen of those aircraft were 737 MAX aircraft, three more than in April but 16 fewer than last year. The 737 MAX is Boeing’s best-selling plane, but the Federal Aviation Administration (FAA) in January prevented the company from increasing production. of the model.

Boeing’s order volume has also dropped significantly compared to last year. The company received just one order for four jets in May, down from 69 orders a year ago. Its backlog decreased to 5,625 from 5,646 in April.

Meanwhile, Airbus (EADSY), Boeing The biggest competitorDelivered 53 aircraft last month and received orders for 27.

Boeing shares were down about 4 percent in early afternoon trading. They have lost about 30% of their value so far this year.

Correction—June 11, 2024: This entry has been updated to correct the size of Boeing’s order backlog.

Academy Sports + Outdoor results suffer as economic pressure affects buyers.

7 hours 9 minutes ago

Shares of Academy Sports + Outdoor (ASO) sporting goods and outdoor recreation gear retailer fell on Tuesday after posting Worse-than-expected quarterly results As he said his buyers faced a tough time financially.

The company reported an adjusted first quarter. Earnings per share (EPS) of $1.08 and revenue of $1.36 billion, down 1.4% year over year. Both left predictions. Comparison store sales fell 5.7 percent.

Academy added two new stores during that period, and plans to open 15 to 17 in 2024. The company said last quarter it targeted 160 to 180 new locations over the next five years.

The Academy noted that he had Bought again $124 million in stock during the first quarter, and it raised its full-year EPS to $6.05 to $7.05 from a previous estimate of $5.90 to $6.90.

Shares of Academy Sports + Outdoors fell about 7% and are down about 24% this year.

Bill McCall

GM rises after another stock buyback

7 hours 49 minutes ago

General Motors (GM) shares rose on Tuesday after the largest US automaker. announced His second Stock returns in seven months.

GM said its board has approved up to $6 billion in share repurchases, which will begin after the money from the current program runs out, which is expected at the end of the month.

In November, GM announced a $10 billion accelerated stock buyback, adding to $1.4 billion from the previous one. GM plans to make a total of $1.4 billion in repurchases in the first half of 2024.

No timetable has been given for when the new plan will end.

GM shares rose 2 percent and are up 35 percent this year.

Bill McCall

Biggest moving stocks in early trade

9 hours 5 minutes ago

Advantages:

apple (AAPL): Shares rose more than 2%, paring yesterday’s losses after the iPhone maker unveiled its Apple Intelligence, its custom artificial intelligence system, and a while taking Plan to integrate ChatGPT In its instruments.

Spotify technology (Spot): Shares rose about 1 percent. Bloomberg report that the music streaming provider plans to introduce a new premium plan, charging users at least $5 more per month.

General Motors (GM): Shares rose 1% after the automaker announced that its board had approved a new Stock buyback program Worth up to $6 billion.

Disadvantages:

robin hood (HOOD): shares of the trading app are down 4% as bitcoin price (BTCUSDBitcoin later fell below $67,000 on Tuesday morning. Exchange Traded Funds (ETFs).) saw a net outflow for the first time in 19 days. Crypto Exchange Coinbase (COIN) was down 5%, while Grayscale Bitcoin Trust ETF (GBTC) fell by about 4 percent.

Stock futures fall

10 hours 2 minutes ago

Dow futures were down 0.4 percent in premarket trading on Tuesday.

S&P futures were down 0.3 percent.

Nasdaq futures were down 0.3 percent.



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