S&P 500 (^GSPC)
| Previous Close | 5,071.63 |
| Open | 5,019.88 |
| Volume |
| Day's Range | 4,990.58 - 5,057.75 |
| 52 Week Range | 4,048.28 - 5,264.85 |
| Avg. Volume | 4,039,230,806 |
- Yahoo Finance Video
Stocks stumble and close lower on Meta, other tech earnings
On the heels of the first round of first-quarter tech earnings, stocks (^DJI, ^IXIC, ^GSPC) close Thursday's session lower. The Dow Jones Industrial Average sank by 374 points, close to 1%. Market Domination Overtime Hosts Julie Hyman and Jared Blikre take a gander at the day's market performance and notable sector laggards. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
Yahoo FinanceInvestors are more worried about inflation than a weakening economy
Fresh data on Thursday showed further signs of sticky inflation, pushing bond yields higher and weighing on stocks.
- Yahoo Finance Video
Market pressure is 'normal' despite slowing GDP: Strategist
The first-quarter US GDP (gross domestic product) print grew by 1.6%, a slower pace than was expected for the quarter. Carson Group Chief Market Strategist Ryan Detrick joined the Morning Brief to discuss his market outlook following pressures sparked by the latest data print. Detrick points out that, historically, markets "tend to be a little weak" at the start of an election year, calling the current market environment "normal." He is not "overly concerned that the economy's slowing down" when taking the GDP print into account. Detrick expresses optimism that the economy is moving in the right direction, stating that "inflation's not perfect"; however, he still believes that two to three interest rate cuts could materialize in 2024. On the earnings front, with markets spooked after Meta Platforms' (META) earnings report and second-quarter guidance, Detrick cautions against drawing broad conclusions from a single company's performance: "It's hard to just say one company matters for everybody." However, he advises adopting a neutral stance on Big Tech due to group's pricy stocks. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
