S&P 500 (^GSPC)
| Previous close | 5,214.08 |
| Open | 5,225.49 |
| Volume |
| Day's range | 5,209.68 - 5,239.66 |
| 52-week range | 4,099.12 - 5,264.85 |
| Avg. volume | 4,003,703,870 |
- Yahoo Finance Video
Novavax-Sanofi vaccine deal, Yelp and Sweetgreen earnings: Morning Brief
On today's episode of The Morning Brief, Hosts Seana Smith and Brad Smith break down some of the biggest news affecting the market (^DJI, ^IXIC, ^GSPC). President Biden is reportedly set to release a new wave of tariffs targeting China in critical sectors, including electric vehicles, semiconductors, and solar equipment. Novavax (NVAX) shares skyrocket following the announcement of a $1.2 billion deal with Sanofi (SNY) to commercialize its combined COVID-19 and flu shot. Restaurant and business review platform Yelp (YELP) misses first-quarter earnings estimates as US consumer spending remains relatively weak. Taiwan Semiconductor (TSM) sales jumped nearly 60% year-over-year as the artificial intelligence race heats up and demand for chips rises. Wedbush Securities Managing Director Dan Ives joins Yahoo Finance to discuss "the fourth Industrial Revolution" in AI and Apple's (AAPL) position among other Big Tech competitors. Sweetgreen (SG) shares soar after topping first-quarter revenue expectations and raising its full-year guidance. CEO Jonathan Neman joins to discuss the company's plans moving forward. This post was written by Melanie Riehl
- Yahoo Finance Video
Fed's rate decision relies on consumer strength: Strategist
Despite the lingering uncertainty, investors remain hopeful that the Federal Reserve will decide to cut rates in the near future. Joining the Morning Brief, State Street Macro Multi-Asset Strategist Cayla Seder discusses why she believes consumer resilience will drive the Fed's decision on rate cuts. Seder suggests a rate cut could materialize in 2024, although "the biggest risk for markets right now" is if the cut comes too soon. She notes that consumers remain resilient despite the inflationary environment. According to Seder, the upcoming release of the Consumer Price Index (CPI) data next week is crucial for gaining insights into the consumer's state. She will look for "a rollover in inflation and a move lower in inflation numbers," coupled with continued consumer resilience. When assessing the markets, Seder cautions that "the progress on inflation is likely going to be very slow." Therefore, she advises investing in sectors like technology and communications, which may offer opportunities amid the current economic landscape. 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
- Yahoo Finance Video
Dow and utilities extend gains, jobless claims: Top Takeaways
Joining Market Domination Overtime, Yahoo Finance Markets Reporter Josh Schafer dissects the day's top trading highlights. The weekly jobless claims data, released on Thursday, soared to its highest level since August 2023, with an addition of 20,000 jobs lost in a single week. The utilities sector (XLU) continues to thrive, propelled by increased investments in energy solutions fueled by artificial intelligence. Additionally, the Dow Jones Industrial Average (^DJI) extended its rally, marking its seventh consecutive day of gains. Amgen (AMGN) emerged as a standout performer, contributing significantly to the index's upward trajectory. 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 Angel Smith
