Latest news with #DJIA
Business Insider
a day ago
- Business
- Business Insider
U.S. Stock Futures Rise on Meta, Microsoft Earnings Beat
U.S. stock futures edged higher Wednesday night, lifted by strong earnings from tech giants Microsoft (MSFT) and Meta Platforms (META). Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 1.13%, 0.77%, and 0.18%, respectively, at 8:33 p.m. EDT on July 30. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Microsoft and Meta, both members of the 'Magnificent Seven,' saw their shares rise 8% and 12%, respectively, in after-hours trading. MSFT surpassed revenue and earnings estimates easily and said that its annual revenue from its cloud computing service, Azure, crossed $75 billion. Similarly, Meta topped estimates and provided an optimistic third-quarter sales outlook that exceeded Street estimates. This positive after-hours session contrasted with Wednesday's regular trading session, in which the S&P 500 and the Dow Jones fell 0.12% and 0.38%, respectively. The Nasdaq Composite, however, managed a 0.15% gain. The market sentiment was influenced by the Fed Chair Jerome Powell's indications that the central bank is not yet prepared to cut interest rates. Looking ahead, investors are awaiting the June personal consumption expenditures (PCE) price index report on Thursday. Also, several companies are scheduled to report earnings tomorrow, such as Comcast (CMCSA), Apple (AAPL), Amazon (AMZN), Cigna (CI), CVS Health (CVS), AbbVie (ABBV), and Mastercard (MA).
Business Insider
a day ago
- Business
- Business Insider
U.S. Stock Futures Up on Meta, Microsoft Earnings
U.S. stock futures inched higher on Wednesday evening, buoyed by robust earnings reports from tech giants Microsoft (MSFT) and Meta Platforms (META). Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 1.04%, 0.18%, and 0.72%, respectively, at 6:58 p.m. EDT on July 30. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Microsoft and Meta, both members of the 'Magnificent Seven,' saw their shares rise 8% and 12%, respectively, in after-hours trading. MSFT surpassed revenue and earnings estimates easily and said that its annual revenue from its cloud computing service, Azure, crossed $75 billion. Similarly, Meta topped estimates and provided an optimistic third-quarter sales outlook that exceeded Street estimates. This positive after-hours session contrasted with Wednesday's regular trading session, in which the S&P 500 and the Dow Jones fell 0.12% and 0.38%, respectively. The Nasdaq Composite, however, managed a 0.15% gain. The market sentiment was influenced by the Fed Chair Jerome Powell's indications that the central bank is not yet prepared to cut interest rates. Looking ahead, investors are awaiting the June personal consumption expenditures (PCE) price index report on Thursday. Also, several companies are scheduled to report earnings tomorrow, such as Comcast (CMCSA), Apple (AAPL), Amazon (AMZN), Cigna (CI), CVS Health (CVS), AbbVie (ABBV), and Mastercard (MA).
Skift
a day ago
- Business
- Skift
Toronto Has Canada's Largest Hotel Pipeline
The DJIA was down 172 points while the Nasdaq was up 31, the S&P 500 fell 8 points, and the 10-year treasury yield was up .05 to 4.34%. It was a weird day on Wall Street as we have no idea why the Fed kept interest rates unchanged sparked such a negative reaction since that is what was expected. Lodging stocks were lower, with REITs hit the hardest. SVC was down -8% while PEB was the other big mover, down -5% on the day. Pebblebrook Hotel Trust reported a modest earnings beat, with business interruption insurance proceeds from La Playa and the transformed Newport Harbor boosting results. PEB management said demand has remained resilient and that is probably going to help sentiment on the whole group, at least until some company reports results and sounds less enthusiastic. PEB bought back 112,000 shares for $1 million during the quarter. Raymond James&nbs
Business Insider
2 days ago
- Business
- Business Insider
U.S. Stock Futures Steady as Market Awaits Fed's Rate Decision
U.S. stock futures were near the flat line on Tuesday evening as investors looked forward to the Federal Reserve's interest rate decision, due tomorrow. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.05% and 0.01%, respectively, at 6:15 p.m. EDT, on July 29, while the Dow Jones Industrial Average (DJIA) futures were down 0.05%. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Tuesday's trading session marked the first time in seven sessions that the S&P 500 did not close at an all-time high and was down 0.3%. The Dow Jones and the Nasdaq Composite also fell 0.5% and 0.4%, respectively. All eyes are now on the Fed's upcoming interest rate decision on Wednesday afternoon. According to the CME Group (CME), there is a 98% chance the central bank will keep rates steady at 4.25% to 4.5%. Tomorrow, investors are looking forward to major economic data releases, such as reports on private payrolls, gross domestic product, and pending home sales. Also, major companies such as Meta Platforms (META), Microsoft (MSFT), Ford (F), Etsy (ETSY), and Robinhood (HOOD) will report earnings on Wednesday.
Skift
2 days ago
- Business
- Skift
Hotel Equities Founder Announces Retirement
The DJIA fell 205 points while the NASDAQ was down 80, the S&P 500 fell 19 points, and the 10-year treasury yield was down .09 to 4.33%. Lodging stocks were modestly lower. Embassy Suites by Hilton Gulf Shores Beach Resort officially opened in Gulf Shores, Alabama. Developed by Peachtree Group, Woodbine Development Corporation, and DD Partners LLC, the eight-story hotel features 257 suites; Sound Wave, the signature open-air venue perched above the beach; The Cove Bar; Tide & Table; 13,620 square feet of enclosed meeting and pre-function space; a three-story parking garage and more than 7,600 square feet of retail space. Embassy Suites Gulf Shores will be managed by Peachtree Group's hospitality division. Wealth Hospitality Group, in partnership with SunHoldings, Inc., is scheduled to break ground on a new Homewood Suites by Hilton in Celebration on Monday morning. The new hotel will feature
