{"id":1640,"date":"2023-03-02T14:02:33","date_gmt":"2023-03-02T19:02:33","guid":{"rendered":"https:\/\/embarrdowns.com\/mixed-u-s-stock-performance-as-fed-rate-hikes-loom-salesforce-and-okta-surge-tesla-slumps\/"},"modified":"2023-03-02T14:02:34","modified_gmt":"2023-03-02T19:02:34","slug":"mixed-u-s-stock-performance-as-fed-rate-hikes-loom-salesforce-and-okta-surge-tesla-slumps","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/mixed-u-s-stock-performance-as-fed-rate-hikes-loom-salesforce-and-okta-surge-tesla-slumps\/","title":{"rendered":"Mixed U.S. Stock Performance as Fed Rate Hikes Loom; Salesforce and Okta Surge, Tesla Slumps"},"content":{"rendered":"

U.S. stocks were mixed on Thursday as traders continued to mull the prospect of higher interest rates and investors digested the latest economic data and corporate earnings reports.[0]<\/a><\/sup> The Dow Jones Industrial Average (DJIA) inched higher, while the S&P 500 (SPX) and Nasdaq Composite (COMP.IND) both declined.[1]<\/a><\/sup><\/p>\n

The 10-year Treasury yield rose 8 basis points to 4.08%, topping 4% yesterday for the first time since November.[0]<\/a><\/sup> Yesterday, the 2-year yield (US2Y) rose by 4 basis points to a post-2007 high of 4.93%.[2]<\/a><\/sup><\/p>\n

Shares of Salesforce (NYSE:CRM) skyrocketed by more than 15% following the company’s release of higher-than-anticipated fourth quarter results and guidance. The company’s CEO, Marc Benioff, is aiming to increase profits in order to counter the pressure brought on by a number of activist investors.[3]<\/a><\/sup><\/p>\n

Meanwhile, Novavax (NVAX (opens in new tab)) plunged 25.9% after the vaccine maker said that although it has enough cash for the next 12 months or so, “substantial doubt exists regarding our ability to continue as a going concern through one year.”[4]<\/a><\/sup> The firm revealed a greater-than-anticipated deficit in its fourth quarter and also came up short on its top-line revenue.[5]<\/a><\/sup><\/p>\n

Tesla (NASDAQ:TSLA), following an investor day event during which Chief Executive Elon Musk gave little information about the launch of a much anticipated cost-effective electric vehicle, saw its stock drop 8.15%.[6]<\/a><\/sup><\/p>\n

Pre-market trading saw Okta Inc (OKTA) soar more than 13% after the company announced positive Q4 results and provided a robust Q1 guidance.[3]<\/a><\/sup><\/p>\n

The Federal Reserve is expected to hike interest rates at least two more times to the 5% level, but further increases could be possible.[7]<\/a><\/sup><\/p>\n

In commodities, crude oil rose 0.6% to $78.12 a barrel, while the Brent contract rose 0.5% to $84.74.[8]<\/a><\/sup> Gold futures fell 0.2% to $1,842.15\/oz.[9]<\/a><\/sup><\/p>\n

Asian markets ended the trading session down, as investors anticipate a potentially larger interest rate hike from the U.S. Federal Reserve.[10]<\/a><\/sup> The Hang Seng in Hong Kong, the Shanghai Composite in China, and the Shenzhen Component in China all finished lower, at -0.92%, -0.05%, and -0.33%, respectively.[1]<\/a><\/sup><\/p>\n

0. <\/span>“US stocks trade mixed as inflation concerns keep traders on edge over higher rates” msnNOW, 2 Mar. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/us-stocks-trade-mixed-as-inflation-concerns-keep-traders-on-edge-over-higher-rates\/ar-AA188Jks<\/a><\/a><\/p>\n

1. <\/span>“Stock Market News Today: Stocks Mixed after Jobless Claims Data” TipRanks, 2 Mar. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-remain-volatile-as-yields-climb-higher<\/a><\/a><\/p>\n

2. <\/span>“Nasdaq, S&P slide on wage inflation worries, Dow bucks trend (SP500)” Seeking Alpha, 2 Mar. 2023, https:\/\/seekingalpha.com\/news\/3943100-nasdaq-sp500-dow-jones-stock-market-interest-rates<\/a><\/a><\/p>\n

3. <\/span>“Stocks Mixed Before The Open As Bond Yields Tick Higher On Fed Concerns, ECB Minutes In Focus” Barchart, 2 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/14699726\/stocks-mixed-before-the-open-as-bond-yields-tick-higher-on-fed-concerns-ecb-minutes-in-focus<\/a><\/a><\/p>\n

4. <\/span>“Stock market news today: Fears of high interest rates hit investors” Markets Insider, 1 Mar. 2023, https:\/\/markets.businessinsider.com\/news\/stocks\/stock-market-news-today-investors-fear-high-interest-rates-fed-2023-3<\/a><\/a><\/p>\n

5. <\/span>“Stock Market Today: Stocks Struggle to Start March” Kiplinger’s Personal Finance, 1 Mar. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-030123-stocks-struggle-to-start-march<\/a><\/a><\/p>\n

6. <\/span>“Macy’s, Salesforce and Okta rise premarket; Silvergate, Tesla fall By Investing.com” Investing.com, 2 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/macys-salesforce-and-okta-rise-premarket-silvergate-tesla-fall-3020301<\/a><\/a><\/p>\n

7. <\/span>“Stocks Post Subpar February Amid Fears Of Higher Interest Rates And Weak Earnings” Forbes, 28 Feb. 2023, https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/02\/28\/stocks-post-subpar-february-amid-fears-of-higher-interest-rates-and-weak-earnings<\/a><\/a><\/p>\n

8. <\/span>“Dow Jones Futures Rise: Tesla, EV Chip Plays Tumble After Investor Day; Salesforce Stock Soars | Investor’s Business …” Investor’s Business Daily, 2 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-tesla-investor-day-tsla-stock-salesforce-stock-soars<\/a><\/a><\/p>\n

9. <\/span>“Dow futures up 70 pts; jobless claims, retail earnings in focus By Investing.com” Investing.com, 2 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-up-70-pts-jobless-claims-retail-earnings-in-focus-3020141<\/a><\/a><\/p>\n

10. <\/span>“Resilient Stocks Look To Break Free As Nasdaq, S&P 500 Futures Climb: Brace For More Volatility, Sideways” Benzinga, 1 Mar. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/03\/31117635\/resilient-stocks-look-to-break-free-as-nasdaq-s-p-500-futures-climb-brace-for-more-volatility-sidew<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. stocks were mixed on Thursday as traders continued to mull the prospect of higher interest rates and investors digested the latest economic data and corporate earnings reports.[0]<\/a><\/sup> The Dow Jones Industrial Average (DJIA) inched higher, while the S&P 500 (SPX) and Nasdaq Composite (COMP.IND) both declined.[1]<\/a><\/sup><\/p>\n

The 10-year Treasury yield rose 8 basis points to 4.08%, topping 4% yesterday for the first time since November.[0]<\/a><\/sup> Yesterday, the 2-year yield (US2Y) rose by 4 basis points to a post-2007 high of 4.93%.[2]<\/a><\/sup><\/p>\n

Shares of Salesforce (NYSE:CRM) skyrocketed by more than 15% following the company’s release of higher-than-anticipated fourth quarter results and guidance. The company’s CEO, Marc Benioff, is aiming to increase profits in order to counter the pressure brought on by a number of activist investors.[3]<\/a><\/sup><\/p>\n

Meanwhile, Novavax (NVAX (opens in new tab)) plunged 25.9% after the vaccine maker said that although it has enough cash for the next 12 months or so, “substantial doubt exists regarding our ability to continue as a going concern through one year.”[4]<\/a><\/sup> The firm revealed a greater-than-anticipated deficit in its fourth quarter and also came up short on its top-line revenue.[5]<\/a><\/sup><\/p>\n

Tesla (NASDAQ:TSLA), following an investor day event during which Chief Executive Elon Musk gave little information about the launch of a much anticipated cost-effective electric vehicle, saw its stock drop 8.15%.[6]<\/a><\/sup><\/p>\n

Pre-market trading saw Okta Inc (OKTA) soar more than 13% after the company announced positive Q4 results and provided a robust Q1 guidance.[3]<\/a><\/sup><\/p>\n

The Federal Reserve is expected to hike interest rates at least two more times to the 5% level, but further increases could be possible.[7]<\/a><\/sup><\/p>\n

In commodities, crude oil rose 0.6% to $78.12 a barrel, while the Brent contract rose 0.5% to $84.74.[8]<\/a><\/sup> Gold futures fell 0.2% to $1,842.15\/oz.[9]<\/a><\/sup><\/p>\n

Asian markets ended the trading session down, as investors anticipate a potentially larger interest rate hike from the U.S. Federal Reserve.[10]<\/a><\/sup> The Hang Seng in Hong Kong, the Shanghai Composite in China, and the Shenzhen Component in China all finished lower, at -0.92%, -0.05%, and -0.33%, respectively.[1]<\/a><\/sup><\/p>\n

0. <\/span>“US stocks trade mixed as inflation concerns keep traders on edge over higher rates” msnNOW, 2 Mar. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/us-stocks-trade-mixed-as-inflation-concerns-keep-traders-on-edge-over-higher-rates\/ar-AA188Jks<\/a><\/a><\/p>\n

1. <\/span>“Stock Market News Today: Stocks Mixed after Jobless Claims Data” TipRanks, 2 Mar. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-remain-volatile-as-yields-climb-higher<\/a><\/a><\/p>\n

2. <\/span>“Nasdaq, S&P slide on wage inflation worries, Dow bucks trend (SP500)” Seeking Alpha, 2 Mar. 2023, https:\/\/seekingalpha.com\/news\/3943100-nasdaq-sp500-dow-jones-stock-market-interest-rates<\/a><\/a><\/p>\n

3. <\/span>“Stocks Mixed Before The Open As Bond Yields Tick Higher On Fed Concerns, ECB Minutes In Focus” Barchart, 2 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/14699726\/stocks-mixed-before-the-open-as-bond-yields-tick-higher-on-fed-concerns-ecb-minutes-in-focus<\/a><\/a><\/p>\n

4. <\/span>“Stock market news today: Fears of high interest rates hit investors” Markets Insider, 1 Mar. 2023, https:\/\/markets.businessinsider.com\/news\/stocks\/stock-market-news-today-investors-fear-high-interest-rates-fed-2023-3<\/a><\/a><\/p>\n

5. <\/span>“Stock Market Today: Stocks Struggle to Start March” Kiplinger’s Personal Finance, 1 Mar. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-030123-stocks-struggle-to-start-march<\/a><\/a><\/p>\n

6. <\/span>“Macy’s, Salesforce and Okta rise premarket; Silvergate, Tesla fall By Investing.com” Investing.com, 2 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/macys-salesforce-and-okta-rise-premarket-silvergate-tesla-fall-3020301<\/a><\/a><\/p>\n

7. <\/span>“Stocks Post Subpar February Amid Fears Of Higher Interest Rates And Weak Earnings” Forbes, 28 Feb. 2023, https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/02\/28\/stocks-post-subpar-february-amid-fears-of-higher-interest-rates-and-weak-earnings<\/a><\/a><\/p>\n

8. <\/span>“Dow Jones Futures Rise: Tesla, EV Chip Plays Tumble After Investor Day; Salesforce Stock Soars | Investor’s Business …” Investor’s Business Daily, 2 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-tesla-investor-day-tsla-stock-salesforce-stock-soars<\/a><\/a><\/p>\n

9. <\/span>“Dow futures up 70 pts; jobless claims, retail earnings in focus By Investing.com” Investing.com, 2 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-up-70-pts-jobless-claims-retail-earnings-in-focus-3020141<\/a><\/a><\/p>\n

10. <\/span>“Resilient Stocks Look To Break Free As Nasdaq, S&P 500 Futures Climb: Brace For More Volatility, Sideways” Benzinga, 1 Mar. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/03\/31117635\/resilient-stocks-look-to-break-free-as-nasdaq-s-p-500-futures-climb-brace-for-more-volatility-sidew<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1639,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1640"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1640"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1639"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}