Futures on the Dow Jones Industrial Average were down 0.3%, which is a sign of improvement after the index slumped by 1.4% during after-hours trading on Thursday. The S&P 500 declined by 0.4% while futures on the tech-heavy Nasdaq 100 fell by 0.6%, narrower than previous declines.

One stock that was hit unexpectedly is Netflix, with the streaming giant declining by 3% in after-hours trading. While the company added over nine million new subscribers in the past quarter, its value was dragged down due to a revenue guidance of $9.49 billion for the second quarter, lower than an estimated $9.51 billion.

The post Stocks Continue Slide as Israel-Iran Tension Ensues appeared first on theprimarymarket.com.

United Airlines reported a pre-tax loss of $164 million as well as an adjusted loss of 15 cents per share, which was a lot better compared to the predictions of analysts, who expected 54 cents per share. The company believes the first quarter would be profitable if it weren’t for the $200 million impact that was caused by the grounding of Boeing 737 MAX 9 after Alaska Airlines experienced an incident with the same model.

The airliner also surpassed the expectations of analysts with $12.5 billion in operating revenue, which represents a 9.7% increase compared to the same period last year. The projections were that United Airlines will have $12.45 billion in revenue for the period.

United Airlines now projects a profit of $3.75 to $4.25 per share for the Q2 compared to Wall Street expectations of $3.76 profit per share.

After closing at $41.50 per share on Tuesday, the United Airlines stock rallied in after-market trading. It opened at $44.39 per share on Wednesday and continued its climb to $47.60 at one point. This is the highest the company’s shares have been in April.

The post United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2 appeared first on theprimarymarket.com.

Both CPI measures beat the expectations of economists polled by Bloomberg, with forecasts being a 0.3% monthly gain and a 3.4% annual rise. While February’s monthly gains fell in line with March’s figures, March’s annual gain exceeded the 3.4% annual rise posted in February.

Looking at “core” inflation, which excludes more volatile food and energy costs, the CPI rose by 0.4% compared to February and 3.8% on a yearly basis. Economists expected a 0.3% monthly gain and a 3.7% year-over-year rise, with actual figures outpacing both. Should inflation continue this upward trend, the Federal Reserve may reconsider its stance on introducing interest rate cuts later in the year.

The post Consumer Price Index Comes in Hotter in March appeared first on theprimarymarket.com.

Contracts listed on the tech-heavy Nasdaq Composite index rose 0.3% higher, with futures on the S&P 500 and the Dow Jones Industrial Average rising marginally higher. The 10-year Treasury Yield rose to 4.45%, with 4.5% being viewed as a potential tipping point by some investors as it appears to be on track to return to last year’s highs.

Wednesday’s CPI report is expected to provide a deeper indication of whether the central bank will indeed consider implementing three rate cuts this year as previously mentioned by Fed Chair Jerome Powell. Investor anxiety was stoked last Thursday when Minneapolis Fed president Neel Kashkari claimed that the Fed may even forego interest rate cuts entirely this year depending on the trajectory of price pressures.

The post Futures Stall as Markets Await Fresh Inflation Data appeared first on theprimarymarket.com.

303,000 jobs were added in March, vastly outperforming the rise of 205,000 that was predicted by Wall Street analysts. The unemployment rate declined from 3.9% to 3.8% on a monthly basis. The main source of growth came from the healthcare industry, which added 72,300 jobs, followed by 71,000 government jobs.

In commodities, oil prices rose on the back of rising Middle East tensions, threatening to bottleneck supplies. West Texas Intermediate futures rose to $86.60 per barrel, while international benchmark Brent crude futures rose past $91 per barrel.

The post Positive Jobs Report Lifts U.S. Stocks appeared first on theprimarymarket.com.

The benchmark S&P 500 edged 0.1% higher, while the tech-heavy Nasdaq Composite rose by about 0.2%. The Dow Jones Industrial Average slipped lower by 0.1%.

Powell spoke at Stanford University on Wednesday, explaining that while inflation is on a “bumpy” pathway toward the Fed’s 2% target, the central bank is nevertheless set to introduce rate cuts. While stocks enjoyed a rampant rally to start the year, they entered the red last week following a dent in consumer confidence. The S&P 500 has gained almost 10% for the year to date.

The post Stocks Edge Higher as Fed Chair Confirms Rate Cuts Ahead appeared first on theprimarymarket.com.

Core prices rose by 0.3% from January to February, thereby falling in line with expectations and decreasing from the 0.5% rise in January compared to the previous month. While Fed Governor Chris Waller stated that a few more months of positive data will be needed to convince the Fed to cut its rates, some economists are confident that the central bank will introduce rate cuts if data continues down this path.

“By the time the Fed meets in June, the data should be convincing enough for them to commence its rate normalization process. But where we sit today, markets need to have the same patience the Fed is exhibiting.” LPL Financial chief economist Jeffrey Roach reflected.

The post PCE Report Could Convince Federal Reserve to Cut Rates in June appeared first on theprimarymarket.com.

2024 has proven to be a prosperous year for the benchmark S&P 500, with the index closing at record highs on 20 occasions so far this year. The index remains on track to reach its fifth consecutive monthly gain.

Investor confidence, and therefore the trajectory of stocks going forward is expected to be guided by further economic data set to be released later this week. The Personal Consumption Expenditures (PCE) price index is set to be released on Friday. Known as the Federal Reserve’s preferred inflation measure, the PCE is expected to influence the central bank’s monetary policy trajectory.

The post S&P 500 Hits New Record as Dow Surges appeared first on theprimarymarket.com.

Expenses fell by 21.2% to $357.1 million, largely resulting from lower labor costs as well as consulting services and marketing. Reduced labor costs were largely the result of GameStop’s exit from its operations in Austria, Ireland, and Switzerland.

Still, GameStop’s reduced expenses did little to quell worries about its declining revenue, particularly given the rising trends in video game purchases. “An increasing mix of digital downloads is hurting physical retail, and there is simply no reason to go to the store if a consumer can just order a game and download it immediately,” Wedbush Securities analyst Michael Pachter observed, Pachter recommended that GameStop management think of new ways to drive store traffic.

The post GameStop Stock Plunges Following Slump in Revenue appeared first on theprimarymarket.com.

The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.

Futures on the Dow Jones Industrial Average were down 0.3%, which is a sign of improvement after the index slumped by 1.4% during after-hours trading on Thursday. The S&P 500 declined by 0.4% while futures on the tech-heavy Nasdaq 100 fell by 0.6%, narrower than previous declines.

One stock that was hit unexpectedly is Netflix, with the streaming giant declining by 3% in after-hours trading. While the company added over nine million new subscribers in the past quarter, its value was dragged down due to a revenue guidance of $9.49 billion for the second quarter, lower than an estimated $9.51 billion.

The post Stocks Continue Slide as Israel-Iran Tension Ensues appeared first on theprimarymarket.com.

United Airlines reported a pre-tax loss of $164 million as well as an adjusted loss of 15 cents per share, which was a lot better compared to the predictions of analysts, who expected 54 cents per share. The company believes the first quarter would be profitable if it weren’t for the $200 million impact that was caused by the grounding of Boeing 737 MAX 9 after Alaska Airlines experienced an incident with the same model.

The airliner also surpassed the expectations of analysts with $12.5 billion in operating revenue, which represents a 9.7% increase compared to the same period last year. The projections were that United Airlines will have $12.45 billion in revenue for the period.

United Airlines now projects a profit of $3.75 to $4.25 per share for the Q2 compared to Wall Street expectations of $3.76 profit per share.

After closing at $41.50 per share on Tuesday, the United Airlines stock rallied in after-market trading. It opened at $44.39 per share on Wednesday and continued its climb to $47.60 at one point. This is the highest the company’s shares have been in April.

The post United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2 appeared first on theprimarymarket.com.

Both CPI measures beat the expectations of economists polled by Bloomberg, with forecasts being a 0.3% monthly gain and a 3.4% annual rise. While February’s monthly gains fell in line with March’s figures, March’s annual gain exceeded the 3.4% annual rise posted in February.

Looking at “core” inflation, which excludes more volatile food and energy costs, the CPI rose by 0.4% compared to February and 3.8% on a yearly basis. Economists expected a 0.3% monthly gain and a 3.7% year-over-year rise, with actual figures outpacing both. Should inflation continue this upward trend, the Federal Reserve may reconsider its stance on introducing interest rate cuts later in the year.

The post Consumer Price Index Comes in Hotter in March appeared first on theprimarymarket.com.

Contracts listed on the tech-heavy Nasdaq Composite index rose 0.3% higher, with futures on the S&P 500 and the Dow Jones Industrial Average rising marginally higher. The 10-year Treasury Yield rose to 4.45%, with 4.5% being viewed as a potential tipping point by some investors as it appears to be on track to return to last year’s highs.

Wednesday’s CPI report is expected to provide a deeper indication of whether the central bank will indeed consider implementing three rate cuts this year as previously mentioned by Fed Chair Jerome Powell. Investor anxiety was stoked last Thursday when Minneapolis Fed president Neel Kashkari claimed that the Fed may even forego interest rate cuts entirely this year depending on the trajectory of price pressures.

The post Futures Stall as Markets Await Fresh Inflation Data appeared first on theprimarymarket.com.

303,000 jobs were added in March, vastly outperforming the rise of 205,000 that was predicted by Wall Street analysts. The unemployment rate declined from 3.9% to 3.8% on a monthly basis. The main source of growth came from the healthcare industry, which added 72,300 jobs, followed by 71,000 government jobs.

In commodities, oil prices rose on the back of rising Middle East tensions, threatening to bottleneck supplies. West Texas Intermediate futures rose to $86.60 per barrel, while international benchmark Brent crude futures rose past $91 per barrel.

The post Positive Jobs Report Lifts U.S. Stocks appeared first on theprimarymarket.com.

The benchmark S&P 500 edged 0.1% higher, while the tech-heavy Nasdaq Composite rose by about 0.2%. The Dow Jones Industrial Average slipped lower by 0.1%.

Powell spoke at Stanford University on Wednesday, explaining that while inflation is on a “bumpy” pathway toward the Fed’s 2% target, the central bank is nevertheless set to introduce rate cuts. While stocks enjoyed a rampant rally to start the year, they entered the red last week following a dent in consumer confidence. The S&P 500 has gained almost 10% for the year to date.

The post Stocks Edge Higher as Fed Chair Confirms Rate Cuts Ahead appeared first on theprimarymarket.com.

Core prices rose by 0.3% from January to February, thereby falling in line with expectations and decreasing from the 0.5% rise in January compared to the previous month. While Fed Governor Chris Waller stated that a few more months of positive data will be needed to convince the Fed to cut its rates, some economists are confident that the central bank will introduce rate cuts if data continues down this path.

“By the time the Fed meets in June, the data should be convincing enough for them to commence its rate normalization process. But where we sit today, markets need to have the same patience the Fed is exhibiting.” LPL Financial chief economist Jeffrey Roach reflected.

The post PCE Report Could Convince Federal Reserve to Cut Rates in June appeared first on theprimarymarket.com.

2024 has proven to be a prosperous year for the benchmark S&P 500, with the index closing at record highs on 20 occasions so far this year. The index remains on track to reach its fifth consecutive monthly gain.

Investor confidence, and therefore the trajectory of stocks going forward is expected to be guided by further economic data set to be released later this week. The Personal Consumption Expenditures (PCE) price index is set to be released on Friday. Known as the Federal Reserve’s preferred inflation measure, the PCE is expected to influence the central bank’s monetary policy trajectory.

The post S&P 500 Hits New Record as Dow Surges appeared first on theprimarymarket.com.

Expenses fell by 21.2% to $357.1 million, largely resulting from lower labor costs as well as consulting services and marketing. Reduced labor costs were largely the result of GameStop’s exit from its operations in Austria, Ireland, and Switzerland.

Still, GameStop’s reduced expenses did little to quell worries about its declining revenue, particularly given the rising trends in video game purchases. “An increasing mix of digital downloads is hurting physical retail, and there is simply no reason to go to the store if a consumer can just order a game and download it immediately,” Wedbush Securities analyst Michael Pachter observed, Pachter recommended that GameStop management think of new ways to drive store traffic.

The post GameStop Stock Plunges Following Slump in Revenue appeared first on theprimarymarket.com.

The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.