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CNBC
a day ago
- Business
- CNBC
S&P 500 futures slip ahead of May jobs report: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group's IPO, in New York City, U.S., June 5, 2025. Brendan McDermid | Reuters S&P 500 futures moved lower on Thursday evening ahead of a key jobs report that is expected to shed light on the health of the U.S. economy. S&P 500 futures ticked down 0.2%. Futures for the Dow Jones Industrial Average were little changed, while Nasdaq 100 futures shed 0.4%. The May nonfarm payrolls report is due out before the opening bell on Friday. Economists expect growth of 125,000 jobs, according to Dow Jones, which would represent a decline from the prior month but likely not enough of one to cause a surge in recession fears. Some recent economic data has pointed to a slowdown in the U.S., raising questions about the impact of the multi-front tariff negotiations and the next steps for the Federal Reserve. "The Federal Reserve is navigating a narrow path. While they expect the economy to soften, persistent trade uncertainty is ripe ground for monetary policy missteps. … With both large and small businesses indicating that they plan to hold onto their workers and ride out the tariff storm, only a modest weakening in the jobs market is likely, further reducing the urgency for Fed support," said Seema Shah, chief global strategist at Principal Asset Management. The move in futures comes as the major indexes are holding on to modest gains for the week. The S&P 500 and Dow are up 0.5% and 0.1%, respectively, week to date, while the Nasdaq Composite is up nearly 1%. On Thursday, the S&P 500 fell 0.5% and the Nasdaq Composite slid 0.8%. Those indexes were weighed down by Tesla , which tumbled 14% as CEO Elon Musk sparred with President Donald Trump on social media. The Dow, which does not include Tesla, was off by 108 points, or less than 0.3%. Earnings reports could also be a key theme on Friday. Broadcom, Lululemon and Docusign all moved lower in extended trading after releasing their quarterly reports. Futures for the Nasdaq 100 and S&P 500 dipped 0.4% and 0.2%, respectively, when trading resumed on Thursday evening. Dow futures were little changed. — Jesse Pound Shares of Lululemon sank 22% in extended trading after the apparel company cut its full-year earnings guidance, citing a "dynamic macroenvironment." However, the firm was not the only company whose quarterly report led to a big after hours move: Docusign fell 17% after billings growth was slower than expected in the first quarter, according to FactSet. fell 17% after billings growth was slower than expected in the first quarter, according to FactSet. Broadcom slipped 3% after reporting only modest beats on the top and bottom lines, according to analysts surveyed by LSEG, and free cash flow that was weaker than expected, according to FactSet. Check out more movers here. — Jesse Pound
CNBC
2 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: Dollar Tree, CrowdStrike, Wells Fargo, Constellation Energy and more
Check out the companies making headlines in premarket trading. Dollar Tree — The budget retailer slid about 4% after saying earnings per share could decline by as much as 50% in the current quarter, parly due to cost pressures from tariffs. Analysts polled by FactSet expected per-share earnings to fall just 2%. Thor Industries — The RV maker jumped about 12% after posting stronger-than-expected earnings for the fiscal third quarter and reaffirming full-year guidance. Thor earned $2.53 per share on revenue of $2.89 billion, while analysts surveyed by FactSet anticipated $1.79 and $2.61 billion, respectively. Hewlett Packard Enterprise – Shares jumped more than 7% after sales and profit at the data storage and networking services provider topped analyst estimates and it raised its profit outlook, expecting to take a smaller hit from tariffs than previously expected and saying most of its products comply with the U.S.-Mexico-Canada free trade deal. In the latest quarter, HPE earned an adjusted 38 cents per share on revenue of $7.63 billion, above analysts' consensus 32 cents per share on $7.45 billion, according to LSEG. CrowdStrike — The cybersecurity stock tumbled about 7% after saying it expects current quarter revenue of between $1.14 billion and $1.15 billion, missing the consensus forecast of $1.16 billion from analysts polled by LSEG. First quarter revenue matched analyst estimates at $1.10 billion. Asana — The enterprise software provider dropped 12%. First-quarter earnings of 5 cents per share, excluding items, on revenue of $187 million, topped analysts' estimates of 2 cents and $186 million, according to LSEG. The stock had run up 17% in the past month. Guidewire Software — The insurance technology provider climbed about 14% after fiscal third quarter earnings exceeded Wall Street estimates, coming in at 88 cents per share, excluding one-time items, on revenue of $294 million, while analysts surveyed by LSEG anticipated 46 cents and $284 million, respectively. Wells Fargo — The money center bank rose nearly 3% after the Federal Reserve removed an asset cap dating back to 2018 on the San Francisco-based lender Wells Fargo. The regulatory restriction had limited the bank's growth while it revamped its governance and risk management following several controversies. Constellation Energy — Shares lost nearly 3% after Citigroup downgraded to neutral from buy. Citi's call came after Constellation agreed Tuesday to sell nuclear-generater power to Meta Platforms as part of a 20-year contract. — CNBC's Pia Singh and Jesse Pound contributed reporting
CNBC
21-05-2025
- Business
- CNBC
Stocks making the biggest moves midday: Canada Goose, UnitedHealth, Target, Carter's and more
Check out the companies making headlines in midday trading. Target — The big-box retailer fell 4% on disappointing first-quarter results . Target also cut its full-year sales outlook, partly blaming falling consumer sentiment and uncertainty about tariffs. Toll Brothers — The stock added 2.8% after the homebuilder beat on both the top and bottom lines for its second quarter. Earnings came in at $3.50 per share, topping the $2.83 a share expected from analysts polled by LSEG. Revenue was $2.74 billion, versus the $2.48 billion consensus estimate. Palo Alto Networks — The cybersecurity company tumbled 5% after posting a gross margin for the third fiscal quarter that was lower than expected. That overshadowed an better-than-anticipated earnings report on both lines for the quarter. Canada Goose — The luxury jacket maker soared 28% after posting a better earnings report for the fiscal fourth quarter than analysts penciled in. However, the company said it would not provide an outlook for the fiscal 2026 year due to uncertainty tied to consumer spending and the global trade backdrop. UnitedHealth — Shares fell 4.4% following HSBC's downgrade of the health insurer. HSBC said the stock could see more downside even after the recent sell-off. UnitedHealth shares have plunged nearly 39% this year. Crypto stocks — Some stocks tied to digital currencies rose as bitcoin rallied to a new all-time high . Coinbase gained 2%, while Mara Holdings popped more than 4%. Carter's — Shares sank 10% after the children's clothing company announced it would slash its quarterly dividend to 25 cents per share from 80 cents per share. The company also said that higher tariffs could push up product costs. Xpeng — U.S.-listed shares of the Chinese electric vehicle maker surged 11.2% after the company recorded a s maller loss for the first quarter than anticipated. Xpeng said it plans to deliver between 102,000 and 108,000 vehicles in the current quarter, which would mark a year-over-year rise of more than 200%. Take-Two Interactive — Shares slid 3.4% after the video game maker announced a proposed offering of $1 billion in common stock. JPMorgan and Goldman Sachs are the lead bookrunning managers for the potential offering. Keysight Technologies — The commercial electronics stock jumped 4% after results for the fiscal second quarter topped expectations. Keysight reported $1.70 in adjusted earnings per share on $1.31 billion of revenue. Analysts surveyed by FactSet were expecting $1.65 per share and $1.28 billion. Both of the company's major reporting segments saw year over year revenue growth. Modine Manufacturing — Shares dropped 8.1% despite a better-than-projected report for the fourth fiscal quarter. The manufacturer earned $1.12 per share, excluding items, while analysts polled by FactSet anticipated 96 cents a share. Revenue came in at $647.2 million, also exceeding the Street's consensus forecast of $631.5 million. — CNBC's Jesse Pound, Yun Li and Michelle Fox contributed reporting
CNBC
21-05-2025
- Business
- CNBC
Stocks making the biggest moves premarket: Target, Palo Alto Networks, Lowe's, UnitedHealth and more
Check out the companies making headlines before the bell. Palo Alto Networks — Shares of the cybersecurity company dipped 3.7% after Palo Alto Network's gross margin for the fiscal third quarter came out below estimates . The company still beat on earnings and revenue expectations, however. UnitedHealth — Shares dropped more than 6% after HSBC downgraded the health insurance giant, saying valuations are still elevated despite a recent rout. Target — The retailer's stock slipped 3.5% after Target missed first-quarter revenue estimates and cut its full-year sales outlook. Executives blamed tariff uncertainty, weaker discretionary spending and backlash to the company's rollback of key diversity, equity and inclusion efforts for its performance. Lowe's — Shares of the home improvement retailer rose 2%. Lowe's reaffirmed its full-year forecast , putting the retailer on track for year-over-year sales growth. Lowe's also reported earnings of $2.92 per share, beating an LSEG estimate of $2.88 per share. Revenue of $20.93 billion came out just shy of the $20.94 billion expected. Toll Brothers — The homebuilder rose more than 4% after fiscal second-quarter results topped expectations. Toll Brothers reported $3.50 in earnings per share on $2.74 billion in revenue. Analysts surveyed by LSEG were looking for $2.83 per share in earnings and $2.48 billion in revenue. Carter's — Shares of the children's clothing company slid about 6% after Carters cut its quarterly dividend to 25 cents per share, down from 80 cents per share. The company's chief executive said in a release that Carter's dividend was misaligned with its level of profitability against the current market environment, and that higher tariffs could lead Carter's to incur significantly higher product costs. Wolfspeed — Shares of the semiconductor supplier plunged more than 60% after The Wall Street Journal reported , citing sources familiar with the matter that Wolfspeed is preparing to file for bankruptcy within weeks. Xpeng — The Chinese EV maker rose than 5% in the premarket after a smaller-than-expected loss for the first quarter . Xpeng added it expects to deliver between 102,000 and 108,000 vehicles in the second quarter. That represents a year-over-year increase of more than 200%. — CNBC's Sarah Min and Jesse Pound contributed reporting.
CNBC
20-05-2025
- Business
- CNBC
Asia-Pacific markets set to trade mixed after Wall Street rally pauses
Futures for Hong Kong's Hang Seng index stood at 23,632, lower than its last close of 23,681.48. Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,421, higher than the index's last close of 8,343.3. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,595 while its counterpart in Osaka last traded at 37,590, against the index's last close of 37,529.49. Asia-Pacific markets were set to trade mixed Wednesday after Wall Street halted its six-day win streak. Investors are also looking out for economic data from across the region. Japan is set to release its trade data for April, while the Bank of Indonesia is slated to release its policy decision later in the day. The Bank of Indonesia slashed policy rates in September 2024, and then again in January 2025, but has kept rates on hold at 5.75% since, HSBC noted in a report. "Given growth weakness, Bank of Indonesia may have to embark on a deep rate-cutting cycle," the bank wrote. "For several reasons, we believe it's time to restart the easing cycle in May," the bank's economists said, citing weak first-quarter GDP growth and weakening currency against the greenback. U.S. futures were little changed. S&P 500 futures wavered Tuesday night following a losing session on Wall Street that snapped a winning streak. Futures tied to the broad index shed 0.2%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 93 points, or 0.2%. Overnight stateside, the three major averages closed lower. Stocks slipped on Tuesday as the big tech-led rally lost steam and the S&P 500 ended a six-day winning run. The S&P 500 fell 0.39% to end at 5,940.46, while the Nasdaq Composite dipped 0.38% and closed at 19,142.71. The Dow Jones Industrial Average lost 114.83 points, or 0.27%, finishing at 42,677.24. Investors dumped tech stocks, which had led the run over the past six days. The sector lost 0.5%. Nvidia slid 0.9%. Advanced Micro Devices, Meta Platforms, Apple and Microsoft also dropped. — CNBC's Lisa Kailai Han and Jesse Pound contributed to this report.
