On Monday, US stocks saw both losses and gains. The impending Fed policy meeting regarding interest hike rates added to the losses by Facebook and Boeing.
Following new reports from Ethiopia that tighten the noose around Boeing Co (BA), the airline maker’s stock slipped 2.1% — offsetting S&P 500 and Dow gains.
Facebook followed suit after an analyst rating cut, sliding 3.3% and pushing the communication services index down by 0.9%.
These, along with the uncertainty surrounding Brexit made investors a little wary. On Monday, the British PM Theresa May received another setback after the speaker of the UK parliament asked her to rejig her Brexit deal before putting it forward for a new vote.
Fifty minutes past noon in Eastern Time, the Dow Jones Industrial Average fell 6.14 points, while the S&P 500 was up 4.59 points. The Nasdaq Composite inched up by 1.54 points.
The market positivity was led by Exxon Mobil (XOM) which rose 1% — listing the energy sector and concerning financial shares. This bolstered the S&P 500 which was 0.16% higher.
Economic data that was revealed in the second week of March was an indication of the Federal Reserve deciding to cut down on aggressive rate bumping. With hopes flying high on the US and China reaching an agreement to end the trade standoff, added to the positive sentiment.
Apple (AAPL) also gained 0.7% with the surprise launch of the new 10.5″ iPad Air and an iPad Mini. Edwards Lifesciences Corp stock (EW) spiked 6.4% higher on positive trial results on its non-invasive heart valve replacement system. Dermira (DERM) hit a new 52-week high on positive eczema trial results.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard