U.S. stock futures drop after Elon Musk suggests Tesla may sacrifice margins
U.S. stock futures point to a lower open on Thursday, with the tech-heavy Nasdaq leading the retreat...
U.S. stock futures point to a lower open on Thursday, with the tech-heavy Nasdaq leading the retreat after Tesla Inc.’s stock slumped nearly 8%.
S&P 500 futures ES00 dipped 33 points, or 0.8%, to 4,145.
Dow Jones Industrial Average futures YM00 fell 196 points, or 0.6%, to 33,838.
Nasdaq 100 futuresNQ00 slid 120 points, or 0.9%, to 13,063.
Corporate earnings are still in focus. Later this morning, investors will also be keeping an eye on data on jobless claims and existing home sales. Here are the latest market moves.
On the docket: American Express, Fifth Third, and KeyCorp, all reporting.
One day after cutting prices on its cars for the sixth time this year, Tesla reported that all those...
One day after cutting prices on its cars for the sixth time this year, Tesla reported that all those discounts made a big dent in its Q1 profits, which were down 24% compared to the same period last year. But with competition in the electric vehicle market heating up, the company said it was sticking with its plan to sell more cars for less. It expects to move 1.8 million cars this year, up from 1.3 million in 2022.
Benchmark U.S. crudeoil for May delivery fell $1.70 to $79.16 a barrel Wednesday. Brent crude for June delivery fell $1.65 to $83.12 a barrel.
Wholesale gasoline for May delivery fell 10 cents $2.65 a gallon. May heating oil fell 4 cents to $2.56 a gallon. May natural gasfell 15 cents to $2.22 per 1,000 cubic feet.
Dow finishes lower, S&P 500 ends flat after another round of corporate earnings
Stocks ended mostly lower on Wednesday, but not by much after the Federal Reserve’s latest Beige Book...
Stocks ended mostly lower on Wednesday, but not by much after the Federal Reserve’s latest Beige Book survey showed that little has changed in economic activity, even while banks pulled back on lending. The Dow Jones Industrial Average DJIA, -0.23% fell about 79 points, or 0.2%, ending near 33,897, while the S&P 500 index SPX, -0.01% shed less than a point, according to preliminary FactSet data. The Nasdaq Composite Index COMP, 0.03% was less than 0.1% higher. Stocks have been struggling for direction this week as the corporate quarterly earnings season gathered steam. The focus for months has been on how far the Fed might rate rates before pausing, and then for how long they might stay high as the central bank looks to bring high inflation lower. Stress in the banking system cropped up in March, with the failure of Silicon Valley Bank and Signature Bank. But the Fed is widely expected to raise its policy rate by another 25 basis points in May, after rapidly increasing the top end of its target range to 5% in slightly more than a year.
