The morning after the release of a key earnings report from Nvidia, U.S. stock futures were higher. All three major stock indexes are trying to break a long string of weekly declines and are on track to do so before Thursday's session. It is the first eight-week losing streak for the Dow Jones Industrial Average since 1923. The S&P 500 has lost seven weeks in a row. The index is up 1.98% and 0.7% this week. The stock market rose Wednesday, led by the Nasdaq's 1.5% advance.
| TICKER | COMPANY | YIELD | CHANGE | %CHANGE |
|---|---|---|---|---|
| U.S. 3 Month Treasury | 1.06 | -0.013 | 0 | |
| U.S. 1 Year Treasury | 1.964 | -0.029 | 0 | |
| U.S. 2 Year Treasury | 2.444 | -0.058 | 0 | |
| U.S. 5 Year Treasury | 2.682 | -0.034 | 0 | |
| U.S. 10 Year Treasury | 2.742 | -0.005 | 0 | |
| U.S. 30 Year Treasury | 2.986 | 0.021 | 0 |
The yield on the benchmark 10-year Treasury note was 2.5% on Thursday morning, which was slightly higher than the previous day. Prices and yields move in opposite directions. A basis point is less than 0.01%. The minutes of the Federal Reserve's May meeting were released on Wednesday.
Jensen Huang, president and CEO of Nvidia, speaks during the company’s event at the 2019 Consumer Electronics Show in Las Vegas on Jan. 6, 2019.The day after the California-based company issued lighter-than- expected guidance for its current quarter, shares of Nvidia fell more than 4% in premarket trading. In the face of a difficult macro environment, the CFO of Nvidia indicated that the company plans to slow the pace of hiring and control expenses. The company reported per-share earnings of $1.36 and revenue of $8.29 billion in its fiscal first-quarter results. As they look for clues on the strength of the tech industry amid fears of a broader economic slowdown, investors were anticipating the results of Nvidia. In the year to date, shares of the company are down 42% and more than 50% from their November high.
Frank Slootman, CEO of Snowflake Inc. on Sept. 16th, 2020.After the maker of data analytics software released earnings and guidance, its shares fell in premarket trading. Wall Street didn't expect the company to say it expects a 2% adjusted operating margin for the current quarter. StreetAccount had expected an adjusted margin of less than one percent. The market turned away from fast-growing, money-losing companies as the Fed indicated tighter policy was on the way.
A pedestrian carries a Macy’s Inc. branded shopping bag outside the company’s flagship store in the Herald Square area of New York, U.S., on Tuesday, Nov. 17, 2020.Macy's raised its full-year profit guidance Thursday after reporting fiscal first-quarter earnings and sales that exceeded expectations. The department store chain's shares jumped in the premarket. Macy's earned an adjusted $1.08 per share on revenue of $5.35 billion; analysts had expected per-share earnings of 82 cents on sales of $5.33 billion. Macy's is the latest retailer to report earnings, which has been mixed for the industry. Target has disappointed investors, while other companies have topped expectations.
Apple plans to raise pay for retail and corporate workers later this year. As companies compete to retain talent in a historically tight U.S. labor market, other technology giants have adjusted their compensation structures. The hottest inflation in the U.S. since the early 1980s has forced workers to face it. Apple said on Wednesday that its starting wage for retail employees in the U.S. will increase to $22 an hour. The hike in retail wages comes as workers at some Apple stores are trying to unionize.
In this photo illustration VMware logo is displayed on a smartphone screen.One of the largest technology acquisitions in history is in the works, according to the companies. The value of the cash-and-stock transaction is based on where the shares of Broadcom closed on Wednesday. The planned deal will help broaden the bussiness of Broadcom away from its traditional business of designing and selling chips. The VMWare deal is expected to close in the third quarter of 2022, which is when the company is currently in its third quarter.
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