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Yahoo
28-05-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq slip with all eyes on Nvidia earnings
US stocks moved lower early Wednesday as investors cautiously counted down to Nvidia's (NVDA) earnings report, seen as a crucial test of hopes for Big Tech amid tariff uncertainty. The Dow Jones Industrial Average (^DJI) fell around 0.1% on the heels of Tuesday's tariff reprieve-driven rebound. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) both also declined more than 0.1%. Nvidia's results are looming large as Wall Street looks for clues to AI demand, which has helped keep alive bullishness for stocks. Hopes are that the chipmaker will confirm that megacap techs can still drive gains even as trade-war fears prey on markets. The AI bellwether is expected to report first quarter earnings after the bell on Wednesday. If it beats lofty targets for sales and profit — and crucially, delivers an upbeat outlook amid anti-China trade measures — strategists expect a broader rally in stocks. Read more: The latest updates on Nvidia's earnings report Before the bell, Macy's (M) posted narrow first quarter revenue and earnings beats, but it revised its 2025 outlook with tariffs uncertainty a factor. Meanwhile, Abercrombie & Fitch (ANF) shares soared over 24% in early trade as investors welcomed its quarterly report. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy On the economic front, minutes from the Federal Reserve's meeting earlier in May are set for release later in the day. Investors are looking for additional insight into how policymakers view the economy, with the impact of President Trump's trade policy in high focus. Read more: The latest on Trump's tariffs Fresh data on Tuesday showed that US consumer confidence rebounded in May as Americans reacted to Trump thawing trade tensions with China earlier in the month. The stock market, meanwhile, delivered its early verdict on Trump delaying planned 50% tariffs on European Union goods. Nations are now racing to cut deals with the Trump administration to avoid the planned US tariff hikes, with India reportedly the latest to offer to lower its own tariffs on some American products. The Utilities (XLU) sector fell more than 1.3% leading the losses among the 11 S&P 500 (^GSPC) sectors. Utilities are considered one of the more interest rate sensitive sectors and have lagged amid the recent rise in Treasury yields. The 10-year Treasury yield was up about 6 basis points and hovered just below 4.5% on Wednesday while the 30-year Treasury yield once again crossed above 5%. The interest rate-sensitive Russell 2000 Index (^RUT) was also among the laggards on Thursday falling about 0.8%, far outpacing the 0.2% loss of the S&P 500. Yahoo Finance's Ines Ferre reports: GameStop (GME) stock sank more than 10% in early trading on Wednesday after the video game retailer announced it purchased 4,710 bitcoin (BTC-USD). With bitcoin trading around $108,000 per token, the investment is valued at over $500 million. The token reached a record high north of $111,000 last week. In March, the company, led by billionaire Ryan Cohen, formally announced that its board unanimously approved adding the cryptocurrency as a treasury reserve asset. Subsequently, the meme stock tumbled nearly 25% in one session after the retailer said it intended to raise $1.3 billion via convertible senior notes to purchase bitcoin. Read more here. Nvidia's (NVDA) earnings and revenue beat Wall Street's expectations nearly every quarter over the past two years. Over the past eight quarters, Nvidia's earnings per share exceeded Wall Street's projections by an average of 9.8%. Over that same time frame, Nvidia's quarterly revenue beat the Street by an average of 8.9%. Meanwhile, S&P 500 companies reported earnings and sales roughly 5% and 1.3% above Wall Street's expectations in that time frame, according to Bloomberg data. Only once in that period — during the second quarter of its fiscal year 2025 — did Nvidia's earnings miss forecasts. Its revenue has exceeded forecasts during each of the past eight quarters. Read more here. US stocks moved higher early on Wednesday as investors awaited a critical earnings report from AI bellwether Nvidia (NVDA). The Dow Jones Industrial Average (^DJI) rose around 0.1% on the heels of Tuesday's tariff reprieve-driven rebound. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) each inched up about 0.2%. Yahoo Finance's Brian Sozzi reports: Read more here. Here's a look at some top movers trending ahead of the opening bell: Abercrombie & Fitch (ANF) stock rocketed 27% higher in premarket trading after the retailer reported better-than-expected first quarter results and forecast strong annual sales. Adjusted earnings came in at $1.59 per share, beating expectations for $1.39 per share, as the company's Hollister brand has been resonating more with younger consumers, Reuters reported. Trump Media & Technology Group (DJT) shares rose 2% after unveiling plans Tuesday to raise $2.5 billion to create a bitcoin (BTC-USD) treasury. The move will place bitcoin directly on the balance sheet of Trump Media, which owns the Truth Social platform. Bitcoin is hovering near all-time highs. Okta (OKTA) stock tumbled 12% despite reporting better-than-expected earnings on Wednesday. The identity software company announced it would take a "prudent approach" to its financial outlook and reiterated its guidance, alluding to economic uncertainty. Macy's (M) stock rose 4% after surpassing Wall Street's earnings expectations. But the company still faces questions about its future as management aims to turn the retailer around. Joby Aviation (JOBY) shares surged 11% after Toyota (TM) invested $250 million in the electric vertical take-off and landing (eVTOL) aircraft maker, becoming its largest shareholder. Joby expects a second tranche of funding from Toyota, completing its $500 million commitment, will land later this year. Nvidia (NVDA) stock traded slightly higher on Wednesday morning ahead of its earnings report after the closing bell, considered to be the most highly anticipated of the season. You can follow along with our live updates of Nvidia's results here. Check out more trending tickers on the Yahoo Finance platform here. GameStop (GME) stock rose early Wednesday as the company revealed a sizable bitcoin (BTC-USD) purchase. Reuters reports: As the report notes, the bitcoin play is the latest unorthodox move to draw investor interest to a brick-and-mortar video game seller that vaulted into the public consciousness during the 2021 meme-stock craze. GameStop's stock has been rallying in recent days amid bitcoin's surge to new highs. GameStop's reveal comes a day after President Trump's media company, Trump Media & Technology Group (DJT), said it is looking to raise some $2.5 billion to buy bitcoin. Read more here. Macy's (M) stock gained 3% in premarket trading after the beleaguered retailer cleared a low bar for earnings expectations set by Wall Street. Revenue fell 5.1% compared to the same period last year, and adjusted earnings per share dropped 40.7%, but both measures topped analyst estimates for the quarter. Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Hamza Shaban reports: Read more here from today's Morning Brief. Economic data: MBA Mortgage Applications (week ending May 23); Richmond Fed manufacturing index (May); FOMC meeting minutes (May meeting) Earnings: Nvidia (NVDA), Abercrombie & Fitch (ANF), BMO (BMO), (AI), Dick's Sporting Goods (DKS), e.l.f. Beauty (ELF), Macy's (M), Salesforce (CRM) Investors are nervously awaiting Nvidia's (NVDA) earnings report on Wednesday, seeing it as an important sign for Big Tech amid unclear times with Trump tariffs. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia suppliers fix Blackwell rack issues in boost to sales Wall Street braces for Nvidia earnings Trade truces are clearly bullish — but have a crucial flaw Tariffs latest: Nations race to cut deals with Trump Trump: Fannie Mae to keep US guarantee as public firm YF Senior columnist Rick Newman: Why Trump is waging war on colleges SpaceX Starship rocket fails to deploy satellites and explodes Musk criticizes Trump's 'big, beautiful' spending bill China deflation worries deepen even amid US trade truce Bloomberg reports: Read more here. Okta (OKTA) stock dropped by 12% on Wednesday in premarket trading after the tech company reported its first-quarter earnings the day before. Despite beating Q1 earnings and revenue estimates, the company reiterated its full-year revenue outlook, factoring in a potential risk related to the uncertain economic environment. CEO, Todd McKinnon said: "Okta had a solid start to FY26 highlighted by record operating profit and another quarter of robust free cash flow." "The world's biggest organizations continue to turn to Okta to solve identity security across their workforces, customers, and AI use cases." McKinnon explained that they would continue a "prudent approach to forward guidance… factoring in potential risks related to the uncertain economic environment for the remainder of FY26." Oil rose today, with an OPEC+ meeting on the horizon to address potential supply issues. Meanwhile, the US is entering the early stages of prospective sanctions on Russia. Bloomberg reports: Read more here. The Utilities (XLU) sector fell more than 1.3% leading the losses among the 11 S&P 500 (^GSPC) sectors. Utilities are considered one of the more interest rate sensitive sectors and have lagged amid the recent rise in Treasury yields. The 10-year Treasury yield was up about 6 basis points and hovered just below 4.5% on Wednesday while the 30-year Treasury yield once again crossed above 5%. The interest rate-sensitive Russell 2000 Index (^RUT) was also among the laggards on Thursday falling about 0.8%, far outpacing the 0.2% loss of the S&P 500. Yahoo Finance's Ines Ferre reports: GameStop (GME) stock sank more than 10% in early trading on Wednesday after the video game retailer announced it purchased 4,710 bitcoin (BTC-USD). With bitcoin trading around $108,000 per token, the investment is valued at over $500 million. The token reached a record high north of $111,000 last week. In March, the company, led by billionaire Ryan Cohen, formally announced that its board unanimously approved adding the cryptocurrency as a treasury reserve asset. Subsequently, the meme stock tumbled nearly 25% in one session after the retailer said it intended to raise $1.3 billion via convertible senior notes to purchase bitcoin. Read more here. Nvidia's (NVDA) earnings and revenue beat Wall Street's expectations nearly every quarter over the past two years. Over the past eight quarters, Nvidia's earnings per share exceeded Wall Street's projections by an average of 9.8%. Over that same time frame, Nvidia's quarterly revenue beat the Street by an average of 8.9%. Meanwhile, S&P 500 companies reported earnings and sales roughly 5% and 1.3% above Wall Street's expectations in that time frame, according to Bloomberg data. Only once in that period — during the second quarter of its fiscal year 2025 — did Nvidia's earnings miss forecasts. Its revenue has exceeded forecasts during each of the past eight quarters. Read more here. US stocks moved higher early on Wednesday as investors awaited a critical earnings report from AI bellwether Nvidia (NVDA). The Dow Jones Industrial Average (^DJI) rose around 0.1% on the heels of Tuesday's tariff reprieve-driven rebound. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) each inched up about 0.2%. Yahoo Finance's Brian Sozzi reports: Read more here. Here's a look at some top movers trending ahead of the opening bell: Abercrombie & Fitch (ANF) stock rocketed 27% higher in premarket trading after the retailer reported better-than-expected first quarter results and forecast strong annual sales. Adjusted earnings came in at $1.59 per share, beating expectations for $1.39 per share, as the company's Hollister brand has been resonating more with younger consumers, Reuters reported. Trump Media & Technology Group (DJT) shares rose 2% after unveiling plans Tuesday to raise $2.5 billion to create a bitcoin (BTC-USD) treasury. The move will place bitcoin directly on the balance sheet of Trump Media, which owns the Truth Social platform. Bitcoin is hovering near all-time highs. Okta (OKTA) stock tumbled 12% despite reporting better-than-expected earnings on Wednesday. The identity software company announced it would take a "prudent approach" to its financial outlook and reiterated its guidance, alluding to economic uncertainty. Macy's (M) stock rose 4% after surpassing Wall Street's earnings expectations. But the company still faces questions about its future as management aims to turn the retailer around. Joby Aviation (JOBY) shares surged 11% after Toyota (TM) invested $250 million in the electric vertical take-off and landing (eVTOL) aircraft maker, becoming its largest shareholder. Joby expects a second tranche of funding from Toyota, completing its $500 million commitment, will land later this year. Nvidia (NVDA) stock traded slightly higher on Wednesday morning ahead of its earnings report after the closing bell, considered to be the most highly anticipated of the season. You can follow along with our live updates of Nvidia's results here. Check out more trending tickers on the Yahoo Finance platform here. GameStop (GME) stock rose early Wednesday as the company revealed a sizable bitcoin (BTC-USD) purchase. Reuters reports: As the report notes, the bitcoin play is the latest unorthodox move to draw investor interest to a brick-and-mortar video game seller that vaulted into the public consciousness during the 2021 meme-stock craze. GameStop's stock has been rallying in recent days amid bitcoin's surge to new highs. GameStop's reveal comes a day after President Trump's media company, Trump Media & Technology Group (DJT), said it is looking to raise some $2.5 billion to buy bitcoin. Read more here. Macy's (M) stock gained 3% in premarket trading after the beleaguered retailer cleared a low bar for earnings expectations set by Wall Street. Revenue fell 5.1% compared to the same period last year, and adjusted earnings per share dropped 40.7%, but both measures topped analyst estimates for the quarter. Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Hamza Shaban reports: Read more here from today's Morning Brief. Economic data: MBA Mortgage Applications (week ending May 23); Richmond Fed manufacturing index (May); FOMC meeting minutes (May meeting) Earnings: Nvidia (NVDA), Abercrombie & Fitch (ANF), BMO (BMO), (AI), Dick's Sporting Goods (DKS), e.l.f. Beauty (ELF), Macy's (M), Salesforce (CRM) Investors are nervously awaiting Nvidia's (NVDA) earnings report on Wednesday, seeing it as an important sign for Big Tech amid unclear times with Trump tariffs. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia suppliers fix Blackwell rack issues in boost to sales Wall Street braces for Nvidia earnings Trade truces are clearly bullish — but have a crucial flaw Tariffs latest: Nations race to cut deals with Trump Trump: Fannie Mae to keep US guarantee as public firm YF Senior columnist Rick Newman: Why Trump is waging war on colleges SpaceX Starship rocket fails to deploy satellites and explodes Musk criticizes Trump's 'big, beautiful' spending bill China deflation worries deepen even amid US trade truce Bloomberg reports: Read more here. Okta (OKTA) stock dropped by 12% on Wednesday in premarket trading after the tech company reported its first-quarter earnings the day before. Despite beating Q1 earnings and revenue estimates, the company reiterated its full-year revenue outlook, factoring in a potential risk related to the uncertain economic environment. CEO, Todd McKinnon said: "Okta had a solid start to FY26 highlighted by record operating profit and another quarter of robust free cash flow." "The world's biggest organizations continue to turn to Okta to solve identity security across their workforces, customers, and AI use cases." McKinnon explained that they would continue a "prudent approach to forward guidance… factoring in potential risks related to the uncertain economic environment for the remainder of FY26." Oil rose today, with an OPEC+ meeting on the horizon to address potential supply issues. Meanwhile, the US is entering the early stages of prospective sanctions on Russia. Bloomberg reports: Read more here.
Yahoo
21-05-2025
- Business
- Yahoo
Bitcoin hits new record high, now eyeing $110K benchmark
Bitcoin (BTC-USD) briefly climbed to a new record high nearing $110,000 on Wednesday, the cryptocurrency currently holding onto morning gains and hovering just below $109,000. Yahoo Finance senior industry reporter Ines Ferré breaks down the crypto asset's latest price moves. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Bitcoin rising this morning briefly hitting an all-time high above $109,000 earlier, but moving slightly off of that high right now, just barely. Yahoo Finance senior markets reporter, Ines Ferre breaks it down for us. We don't want to throw cold water on it so quick, Ines. Oh no, because we are right up against that $110,000 threshold. Take a look at Bitcoin right now. It's trading just below 109, uh, but look, it was trading just above 109,000. Around 400 that it got to that all-time record high. And look, year to date it's up 15% and from its April lows when it was around 76,000, just below 80,000, it's up more than 40%. So it has really rallied over the last several weeks and part of this has to do with a more optimistic regulatory framework because you've got that stable coin bill, um, that's in the Senate. You've got more institutional buying and also you have what one analyst has been saying that has been this investor shift to buy the dips. So investors have been buying the dips along of the way sending it to an all-time record high. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-05-2025
- Business
- Yahoo
Occidental reports mixed earnings while reducing debt by over $2B
Oil driller Occidental Petroleum (OXY) published first quarter earnings figures of $0.87 in adjusted earnings per share (vs. estimates of $0.78) while revenue fell below expectations (net sales of $6.8 billion vs. analyst forecasts of $6.96 billion). Yahoo Finance senior business reporter Ines Ferré breaks down the energy company's release and its oil production numbers ahead of the earnings call. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Shares of Occidental Petroleum in focus following its first quarter earnings report. Yahoo finances, Inez Ferre here with the numbers. Yeah, Julie. So, Occidental Petroleum reporting adjusted earnings per share of 87 cents. That beat at Wall Street estimates for 78 cents. Uh they're seeing their capital expenditure at 7.2 billion to 7.4 billion dollars. Uh the and they had previously seen uh that to be between 7.4 billion, 7.6 billion. So, um that is right in line with the street estimate of 7 and a half billion dollars. But look, this is a company that has been talking about reducing its debt, that's one of its main priorities. And in their slides, they're showing that um they year to date have reduced their debt by 2.3 billion dollars. It'll be interesting to see to hear in their earnings call uh whether or not there is talk about this production peak in the shale. in shale because we had Diamondback CEO yesterday that was talking about how he believes that US shale production has peaked that he was pointing to activity lower crew activity uh in in the shale area. And if that is the case, he's also talking about being decreasing this quarter because of the oil price. Uh I just got off the phone with Ed Hers earlier just before looking at this uh print. And he was telling me, look, in the Permian basin, if the oil price goes below 70, they don't want to drill more. Uh the cost of drilling has gone up, the labor costs have gone up to drill. And the gas and and the oil as you drill is getting gassier and gassier so it's more difficult. So you have to drill deeper, you have to drill more lateral. So it'll be interesting to see if there's any commentary uh about what's happening with these oil prices and the production that we're hearing about. Yeah, definitely. All right. Thank you, Inez. Appreciate it. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Gold price today, Thursday, April 17, 2025: Gold's strength continues
Gold (GC=F) futures opened at $3,357.50 an ounce Thursday, up from Wednesday's close of $3,326.60. The opening price is yet another new all-time high. The price of gold has risen steadily since late 2023, with increasing momentum after President Trump initiated tariffs on all imported goods. Meanwhile, the S&P 500 is down more than 6% over the past month in the wake of ongoing tariff uncertainty and rising trade tensions with China. U.S. tariffs on Chinese goods are now as high as 245%. China has retaliated with limitations on the export of minerals used in semiconductors, antitrust investigations of U.S. companies, and restrictions on specific American businesses, including Boeing, America's largest exporter. The gold futures opening price of $3,357.50 an ounce on Thursday is a record high and nearly 1% higher than Wednesday's close of $3,326.60. Gold is now up more than 12% over the past month, as compared to the March 17 opening price of $2,991. Over the past 12 months, gold has gained more than 40% from its opening price of $2,384.20 on April 17, 2024. Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria. Gold has taken the crown from tech stocks as the most crowded trade on Wall Street. Yahoo Finances' Ines Ferre explained what's driving the surge in gold, and how investing professionals are thinking about the precious metal now and throughout the year. 'To show you the performance of gold year-to-date compared with the MAG 7, take a look: gold up 26% year-to-date for the futures,' explained Ferre. 'And if we look at the MAG 7 stocks year-to-date chart, I'm going to show you Nvidia down 22%, Apple down 22%." Learn more: How to invest in gold in four steps Whether you're tracking the price of gold since last month or last year, the price-of-gold charts below show the precious metal's steady upward climb in value. Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately and many analysts are bullish on gold. In February, Goldman Sachs expected gold to gain another 8% in 2025, after surging more that 40% in 2024. It's already blown past that 8% mark. Worries about tariffs and their impact on the U.S. economy are a primary factor. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
Yahoo
16-04-2025
- Business
- Yahoo
After surge to record highs, gold overtakes 'Magnificent 7' as the most crowded trade on Wall Street
Gold has surpassed the "Magnificent Seven" tech stocks as the most crowded trade on Wall Street as the precious metal surged to record highs this year amid volatile markets and an uncertain economic backdrop. According to the latest Bank of America fund managers survey published this week, nearly half of the fund managers surveyed (49%) see long gold, or bets that gold prices will rise, as the most crowded trade in the market right now. This marks the first time in two years that fund managers did not see the Magnificent Seven as Wall Street's most crowded trade, according to the survey. Gold futures (GC=F) on Wednesday rose to an all-time high of $3,334 as investors continued to favor the safe-haven asset amid a falling US dollar ( and tariff uncertainty. Gold prices have surged more than 27% year to date, while the Magnificent Seven tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — are down considerably. Read more: How to invest in gold in 4 steps Tesla stock has led Magnificent Seven losses and is down about 38% since the start of 2025. Apple stock has fallen 21%. Nvidia stock has also declined 21% year to date. On Wednesday, the AI chip giant warned of a multibillion-dollar impact from US export controls on China, which weighed on shares. Shares of Alphabet, Microsoft, Meta, and Amazon — the remainder of the Magnificent Seven — are all down by double-digit percentages since the start of the year. Gold's rally comes as central banks' demand hit all-time highs last year and as investors increased inflows into physical gold-backed exchange-traded funds (ETFs). "The new highs in gold are signaling a shift in appetite for US assets," Ryan McIntyre, senior managing partner at asset manager firm Sprott, recently told Yahoo Finance. "Confidence in the US has clearly been shaken, so people are looking to diversify." Wall Street analysts have remained bullish on gold, upping their price forecasts on the precious metal even amid its fast ascent. Some 42% of fund managers expect gold will be the best-performing asset of 2025, up from 23% in March, according to Bank of America. The firm's survey also showed investors have rotated out of US assets by a record amount over the past two months, with 73% of respondents saying "US exceptionalism" has peaked. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
