Closing Bell Movers: Snowflake jumps 7% on earnings
In the opening hour of the evening session, U.S. equity futures are down modestly, extending Wednesday's broader declines. S&P 500 is down 0.1% at 5,855, Nasdaq 100 is off by 0.1% at 21,139, and Dow Industrials are slipping 0.2% below 41,900 level. In commodities, WTI Crude Oil is down 0.4% at $61.31 as rumors of escalation in the Middle East are replaced by worries over global growth, while Gold is up another 0.2% at $3,321 per ounce.
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Fiscal debt and deficit worries amid Congressional budget deliberations took center stage in U.S. hours today, punctuated by weak demand in the 20-year U.S. Treasury auction mid-day. The yield on the 10-year rose to three-month highs of 4.6% and that of the 30-year eclipsed the 5% threshold. Stocks were likewise spooked by the Treasury selloff as higher rates contributed to Real Estate being the worst performing sector on the S&P 500, followed by Health Care and Financials. Communication Services sector outperformed however thanks to strength in shares of Alphabet.
Check out this evening's top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
Urban Outfitters (URBN) up 14.3%
LiveRamp Holdings (RAMP) up 7.3%
Snowflake (SNOW) up 6.9%
American Superconductor (AMSC) up 4.2%
Domo (DOMO) up 3.5%
Zoom Communications (ZM) up 0.3%
ALSO HIGHER –
Lumen Technologies (LUMN) up 11.0% after selling its Mass Markets fiber business to AT&T for $5.75B
Pitney Bowes (PBI) up 9.9% after naming new CEO, announcing strategic actions
DOWN AFTER EARNINGS –
EnerSys (ENS) down 2.9%
ALSO LOWER –
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