Stock Market

Stock market today: Big Tech weakness holds back Wall Street even as most stocks rise

Updated 4 hrs ago

More drops for Big Tech stocks kept U.S. stock indexes in check Tuesday. The S&P 500 slipped 0.5% Tuesday although two out of every three stocks within the index rose. The Dow Jones Industrial Average rose 203 points, and the Nasdaq composite fell 1.3%. PayPal and JetBlue Airways rallied after delivering stronger results for the latest quarter than expected. But Microsoft slid as investors waited for its latest profit report, which arrived after the closing bell. Many other Big Tech stocks also weakened. Treasury yields eased ahead of a decision on interest rates by the Federal Reserve due Wednesday.

PayPal, JetBlue rise; Merck, Lattice Semiconductor fall, Tuesday, 7/30/2024

Updated 4 hrs ago

Stocks that traded heavily or had substantial price changes on Tuesday: PayPal, JetBlue rise; Merck, Lattice Semiconductor fall.

How major US stock indexes fared Tuesday, 7/30/2024

5 hrs ago

More drops for Big Tech stocks kept U.S. stock indexes in check Tuesday. The S&P 500 slipped 0.5% Tuesday although most stocks within it rose. The Dow Jones Industrial Average rose 203 points, and the Nasdaq composite fell 1.3%. PayPal and JetBlue Airways rallied after delivering stronger results for the latest quarter than expected. But Microsoft slid as investors waited for its latest profit report, which arrived after the closing bell. Many other Big Tech stocks also slid. Treasury yields eased ahead of a decision on interest rates by the Federal Reserve due Wednesday.

Closing prices for crude oil, gold and other commodities

6 hrs ago

Benchmark U.S. crude oil for September delivery fell $1.08 to $74.73 per barrel Tuesday. Brent crude for September delivery fell $1.15 to $78.63 per barrel. Wholesale gasoline for August delivery fell 3 cents to $2.39 a gallon. August heating oil fell 4 cents to $2.34 a gallon. September natural gas rose 9 cents to $2.13 per 1,000 cubic feet. Gold for December delivery rose $26.40 to $2,451.90 per ounce. Silver for September delivery rose 66 cents to $28.53 per ounce, and September copper was unchanged at $4.08 per pound. The dollar fell to 153.29 Japanese yen from 154 yen. The euro fell to $1.0811 from $1.0823.

American consumers feeling more confident in July as expectations of future improve

Updated 7 hrs ago

American consumers felt more confident in July as expectations over the near-term future rebounded. However, in a reversal of recent trends, feelings about current conditions weakened. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 100.3 in July from a downwardly revised 97.8 in June. The measure of Americans’ short-term expectations for income, business and the job market rose in July to 78.2 from 72.8 in June. A reading under 80 can signal a potential recession in the near future. Consumers’ view of current conditions dipped in July to 133.6, from 135.3 in June.

Ethiopia's currency dives by 30% as IMF-backed reforms to stabilize the economy take effect

Updated 11 hrs ago

Ethiopia’s currency has lost 30% of its value the day after the central bank began implementing a flexible exchange rate policy backed by the International Monetary Fund as part of new measures to stabilize the eastern African nation’s economy. Mamo Mihretu, governor of the National Bank of Ethiopia, said in a televised address Monday that the reforms “will introduce a competitive, market-based determination of the exchange rate and address a long-standing distortion within the Ethiopian economy.” Commercial banks can set the price of foreign exchange and non-bank entities are permitted to operate forex bureaux for the first time, a historic change in a country where the government for decades fixed those prices allowing their black market to flourish.

China's top leaders vow to support consumers and improve confidence in its slowing economy

Updated 15 hrs ago

China’s powerful Politburo has endorsed the ruling Communist Party's strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.” A statement issued Tuesday after the meeting of the 24 highest leaders of the party warned that coming months would be tough, with high risks. It promised unspecified measures to restore confidence in financial markets and boost government spending. Its calls to look after low- and middle-income groups reflect the party's pledges to build a stronger social safety net to enable families to spend more. But it provided no specifics on how it will do that.

Stock market today: Asian shares mostly decline ahead of central bank meetings

Updated 23 hrs ago

Asian shares are mostly declining in cautious trading ahead of central bank meetings around the world. The Federal Reserve, the Bank of England and the Bank of Japan are holding monetary policy meetings this week. Benchmarks fell in Tuesday morning trading in Tokyo, Sydney, Seoul, Hong Kong and Shanghai. U.S. stock indexes drifted to a mixed finish Monday ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates. The S&P 500 rose 0.1%, coming off its first back-to-back weekly losses since April. The Dow Jones slipped 0.1%.

How major US stock indexes fared Monday, 7/29/2024

Jul 29, 2024

U.S. stock indexes drifted to a mixed close ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates. The S&P 500 rose 0.1% Monday, coming off its first back-to-back weekly losses since April. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite rose 0.1%. ON Semiconductor led the market after delivering stronger profit than analysts expected. Reports from Microsoft, Apple, Amazon and Meta Platforms will follow later this week. So will a meeting by the Federal Reserve, where officials may hint that a rate cut will arrive in September.

ON Semiconductor, Inspire Medical rise; Integra, Enstar Group fall, Monday, 7/29/2024

Updated Jul 29, 2024

Stocks that traded heavily or had substantial price changes on Monday: ON Semiconductor, Inspire Medical rise; Integra, Enstar Group fall.

Closing prices for crude oil, gold and other commodities

Jul 29, 2024

Benchmark U.S. crude oil for September delivery fell $1.35 to $75.81 per barrel Monday. Brent crude for September delivery fell $1.35 to $79.78 per barrel. Wholesale gasoline for August delivery fell 4 cents to $2.42 a gallon. August heating oil fell 4 cents to $2.38 a gallon. August natural gas fell 10 cents to $1.91 per 1,000 cubic feet. Gold for December delivery fell $2.40 to $2,425.50 per ounce. Silver for September delivery fell 15 cents to $27.87 per ounce, and September copper fell 4 cents to $4.08 per pound. The dollar rose to 154 Japanese yen from 153.74 yen. The euro fell to $1.0823 from $1.0857.

McDonald's same-store sales fall for 1st time since 2020 as tapped-out customers hold on to cash

Updated Jul 29, 2024

McDonald’s global same-stores fell for the first time in nearly four years in the second quarter as inflation-weary consumers skipped eating out or chose cheaper options. The company says it’s working on fixes, like meal deals and new menu items, but it expects same-store sales to be down for the next few quarters. The Chicago burger giant said on Monday that same-store sales fell 1% worldwide in the April-June period. McDonald's said nearly all of its U.S. franchisees have agreed to extend the company's $5 meal deal through August. The company's second-quarter revenue and profit also fell short of Wall Street's forecasts.