Lower Futures Point To Weak Opening On Wall Street; Fed Policy Eyed

RTTNews | 48 hari yang lalu

(RTTNews) - Although lower futures currently point to a weak start for U.S. stocks Wednesday morning, the mood may change positive if some of the data due ahead of the opening bell turn out to be a bit encouraging. However, the focus today is on the Federal Reserve's monetary policy announcement, due later in the day.

The central bank is widely expected to leave interest rate unchanged. The accompanying statement and Fed Chair Jerome Powell's post meeting press conference for clues about future interest rate moves.

Data on manufacturing activity for the month of April, construction spending, private sector employment and U.S. job openings are all due this morning.

In earnings news, Amazon Inc. announced after trading hours on Tuesday that it posted a net income of $10.4 billion in the first quarter of this year, up three times its earnings a year ago. First-quarter sales increased 13% to $143.3 billion, the company said.

Pfizer Inc. repofted first-quarter earnings of $3.12 billion, or $0.55 per share, compared with $5.54 billion, or $0.97 per share, in last year's first quarter. For fiscal 2024, the company projects adjusted earnings in a range of $2.15 to $2.35 per share, up from the prior guidance range of $2.05 and $2.25 per share.

Advanced Micro Devices Inc. reported first-quarter earnings of $123 million, compared with a loss of $139 million in the year-ago quarter.

Stock prices went down south on Wall Street on Tuesday, sliding lower and lower after a weak start, as concerns about inflation and uncertainty about the Fed's interest rate moves rendered the mood bearish.

Investors digested a mixed batch of earnings updates, and some disappointing economic data.

The major averages all ended sharply lower, with the Nasdaq suffering a more pronounced loss. The Dow ended down by 570.17 points or 1.49 percent at 37,815.92. The S&P 500 dropped 80.48 points or 1.57 percent to 5,035.69, while the Nasdaq tumbled 325.26 points or 2.04 percent to settle at 15,657.82.

U.S. Business Inventories Increase In Line With Estimates In April

A report released by the Commerce Department on Tuesday showed business inventories in the U.S. increased in line with economist estimates in the month of April. The Commerce Department said business inventories rose by 0.3 percent in April after edging down by 0.1 percent in March. Economists had expected business inventories to climb by 0.3 percent.

RTTNews | 4j 54min yang lalu

Shuttle Pharma Appoints Timothy Lorber To Succeed Vander Hoek As CFO

Shuttle Pharmaceuticals Holdings, Inc. (SHPH) announced the appointment of Timothy Lorber as the Company Chief Financial Officer or CFO.

RTTNews | 5j 10min yang lalu

U.S. Industrial Production Jumps Much More Than Expected In May

Industrial production in the U.S. increased by much more than expected in the month of May, the Federal Reserve revealed in a report released by on Tuesday. The Fed said industrial production jumped by 0.9 percent in May after coming in unchanged in April. Economists had expected industrial production to rise by 0.3 percent.

RTTNews | 5j 28min yang lalu

U.S. Retail Sales Inch Up 0.1% In May, Slightly Less Than Expected

Retail sales in the U.S. inched slightly higher in the month of May, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales crept up by 0.1 percent in May after dipping by a revised 0.2 percent in April. Economists had expected retail sales to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.

RTTNews | 5j 40min yang lalu

Uber Partners St. Louis-based Save A Lot For Grocery Delivery Across 32 US States

Uber Technologies, Inc. (UBER) announced Tuesday a new partnership with St. Louis-based discount grocery store chain Save A Lot, one of the country's largest discount grocers with more than 600 independently owned grocery locations, which will be serviceable by Uber across 32 U.S. states.

RTTNews | 5j 50min yang lalu

U.S. Retail Sales Inch Up Slightly Less Than Expected In May

Retail sales in the U.S. inched slightly higher in the month of May, according to a report released by the Commerce Department on Tuesday.

RTTNews | 6j 33min yang lalu

Ligand Says Merck Receives FDA Approval For CAPVAXIVE For Adults

Ligand Pharmaceuticals Inc. (LGND) announced Tuesday that its collaborator Merck & Co., Inc. (MRK), known as MSD outside the U.S. and Canada, has received approval from the U.S. Food and Drug Administration (FDA) for CAPVAXIVE, previously known as V116, a 21-valent pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease and pneumococcal pneumonia in the adult population.

RTTNews | 6j 51min yang lalu

Intra-Cellular Says Phase3 Trial Study 502 Of Lumateperone In MDD Meets Primary Endpoint

Biopharmaceutical company Intra-Cellular Therapies, Inc. (ITCI) announced Tuesday positive topline results from Study 502 evaluating lumateperone 42 mg as an adjunctive therapy to antidepressants for the treatment of Major Depressive Disorder (MDD).

RTTNews | 7j 1min yang lalu

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