6

Stock market news live updates: Stock futures waver as GDP beats, tech earnings...

 2 years ago
source link: https://finance.yahoo.com/news/stock-market-news-live-updates-october-27-120335778.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client
Yahoo Finance LIVE - Oct 27 AM
1af93af0-db18-11e9-bff7-e34690b9be52
Scroll back up to restore default view.

Stock market news live updates: Stocks mixed as GDP beats, tech earnings on tap

Dani Romero
·Reporter
Thu, October 27, 2022, 9:03 PM·4 min read

U.S. stocks were mixed Thursday morning as investors brace for another batch of tech earnings from Amazon (AMZN) and Apple (AAPL) and dissected a better-than-expected U.S. GDP report.

The S&P 500 (^GSPC) rose by 0.44%, while the Dow Jones Industrial Average (^DJI) edged higher by 1.52%. The technology-heavy Nasdaq Composite (^IXIC) started in the green before falling off by 0.26%.

The S&P 500 and Nasdaq fell Wednesday, snapping three straight days of gains for the indices. Stocks had rallied as of late on positive signals from Federal Reserve officials concerned with the pace of the interest rate hikes ahead of their November meeting, as well as a slew of better-than-expected third-quarter earnings.

But the rally ran out of steam amid two lackluster reports from Alphabet (GOOGL) and Microsoft (MSFT), which raised concerns about slowing economic growth.

On Wednesday, shares of Facebook parent Meta Platforms (META) plunged in after-hours trading as the tech giant posted a second quarterly revenue decline.

“Look, across the board, tech continues to miss. And they're disappointing— I think what's most disappointing are the expenses,” Jefferies senior analyst Brent Thill told Yahoo Finance Live on Wednesday after Meta’s earnings.

“I think everyone wants Zuckerberg to hit the air brakes on expenditures. The fact that they're holding headcount flat is good, but I think everyone is calling for more severe measures in terms of trimming headcount, trimming expenses to get a hold of what's happening in this macro storm,” Thill added.

A report from the Commerce Department released on Thursday showed the nation's gross domestic product grew at an annual rate of 2.6% in July through September after recording two consecutive quarters of negative growth. Economists surveyed by Bloomberg had estimated a 2.4% uptick.

Investors also digested earnings from Ford (F) that narrowed its profit forecast for the year and took hefty charge from its autonomous-driving venture Argo AI. Shares of the automaker were down in early trading Thursday.


report

Recommend

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK