{"id":1646,"date":"2023-03-02T20:02:18","date_gmt":"2023-03-03T01:02:18","guid":{"rendered":"https:\/\/embarrdowns.com\/mixed-reactions-on-wall-street-as-economic-data-fed-speeches-and-earnings-reports-drive-stocks\/"},"modified":"2023-03-02T20:02:18","modified_gmt":"2023-03-03T01:02:18","slug":"mixed-reactions-on-wall-street-as-economic-data-fed-speeches-and-earnings-reports-drive-stocks","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/mixed-reactions-on-wall-street-as-economic-data-fed-speeches-and-earnings-reports-drive-stocks\/","title":{"rendered":"Mixed Reactions on Wall Street as Economic Data, Fed Speeches, and Earnings Reports Drive Stocks"},"content":{"rendered":"

On Thursday, U.S. stocks were mixed while Treasury yields were higher as economic data pointed to a strong labor market, raising concerns over the Federal Reserve’s rate hikes.[0]<\/a><\/sup> The yield on the benchmark 10-year Treasury note rose seven basis points to 4.06%, while West Texas Intermediate crude gained fractionally to trade at just around $78 per barrel.[1]<\/a><\/sup> Meanwhile, Salesforce (CRM) led the charge to the upside, rising 11.51% after stronger-than-expected earnings and more positive guidance.[2]<\/a><\/sup> Tesla (TSLA) was among the top S&P percentage losers, falling 5.9% after the electric carmaker’s Investor Day failed to excite analysts.[3]<\/a><\/sup> Novavax (NVAX) 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> Additionally, Minneapolis Federal Reserve Bank President Neel Kashkari said a 50-basis-point rate hike at the U.S. central bank’s next meeting was not out of the question, adding that rates may need to go higher than the 5.4% level he saw as the peak in December.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Nasdaq, S&P slip as labor market data stokes Fed concerns; Salesforce props up Dow (SP500)” Seeking Alpha, 2 Mar. 2023, https:\/\/seekingalpha.com\/news\/3943339-nasdaq-sp500-dow-jones-stock-market-labor-market-data-fed-hikes<\/a><\/a><\/p>\n

1. <\/span>“Dow Jones Rises As 10-Year Yield Tops 4%; Tesla Plunges 8% On Disappointing Investor Day” Investor’s Business Daily, 2 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-climb-ahead-of-jobless-claims-tesla-dives-on-disappointing-investor-day\/<\/a><\/a><\/p>\n

2. <\/span>“Major US stock indices close higher in the day” ForexLive, 2 Mar. 2023, https:\/\/www.forexlive.com\/technical-analysis\/major-us-stock-indices-close-higher-in-the-day-20230302\/<\/a><\/a><\/p>\n

3. <\/span>“US Markets Pick Up Steam in the Afternoon and Post Gains” Investopedia, 2 Mar. 2023, https:\/\/www.investopedia.com\/us-markets-pick-up-steam-in-the-afternoon-and-post-gains-7185448<\/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>“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","protected":false},"excerpt":{"rendered":"

On Thursday, U.S. stocks were mixed while Treasury yields were higher as economic data pointed to a strong labor market, raising concerns over the Federal Reserve’s rate hikes.[0]<\/a><\/sup> The yield on the benchmark 10-year Treasury note rose seven basis points to 4.06%, while West Texas Intermediate crude gained fractionally to trade at just around $78 per barrel.[1]<\/a><\/sup> Meanwhile, Salesforce (CRM) led the charge to the upside, rising 11.51% after stronger-than-expected earnings and more positive guidance.[2]<\/a><\/sup> Tesla (TSLA) was among the top S&P percentage losers, falling 5.9% after the electric carmaker’s Investor Day failed to excite analysts.[3]<\/a><\/sup> Novavax (NVAX) 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> Additionally, Minneapolis Federal Reserve Bank President Neel Kashkari said a 50-basis-point rate hike at the U.S. central bank’s next meeting was not out of the question, adding that rates may need to go higher than the 5.4% level he saw as the peak in December.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Nasdaq, S&P slip as labor market data stokes Fed concerns; Salesforce props up Dow (SP500)” Seeking Alpha, 2 Mar. 2023, https:\/\/seekingalpha.com\/news\/3943339-nasdaq-sp500-dow-jones-stock-market-labor-market-data-fed-hikes<\/a><\/a><\/p>\n

1. <\/span>“Dow Jones Rises As 10-Year Yield Tops 4%; Tesla Plunges 8% On Disappointing Investor Day” Investor’s Business Daily, 2 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-climb-ahead-of-jobless-claims-tesla-dives-on-disappointing-investor-day\/<\/a><\/a><\/p>\n

2. <\/span>“Major US stock indices close higher in the day” ForexLive, 2 Mar. 2023, https:\/\/www.forexlive.com\/technical-analysis\/major-us-stock-indices-close-higher-in-the-day-20230302\/<\/a><\/a><\/p>\n

3. <\/span>“US Markets Pick Up Steam in the Afternoon and Post Gains” Investopedia, 2 Mar. 2023, https:\/\/www.investopedia.com\/us-markets-pick-up-steam-in-the-afternoon-and-post-gains-7185448<\/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>“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","protected":false},"author":3,"featured_media":1645,"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\/1646"}],"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=1646"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1645"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}