{"id":513,"date":"2023-02-08T09:02:49","date_gmt":"2023-02-08T14:02:49","guid":{"rendered":"https:\/\/embarrdowns.com\/stocks-open-lower-as-investors-await-powells-comments-and-earnings-reports\/"},"modified":"2023-02-08T09:02:50","modified_gmt":"2023-02-08T14:02:50","slug":"stocks-open-lower-as-investors-await-powells-comments-and-earnings-reports","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/stocks-open-lower-as-investors-await-powells-comments-and-earnings-reports\/","title":{"rendered":"Stocks Open Lower as Investors Await Powell’s Comments and Earnings Reports"},"content":{"rendered":"

US stocks opened lower on Wednesday, with the Dow Jones Industrial Average (DJIA) trading down 0.1% and the S&P 500 (SPX) down 0.2%.[0]<\/a><\/sup> The Nasdaq Composite (NDX) steadied at 11,888. Investors are awaiting comments from Federal Reserve Chair Jerome Powell, who will speak at the Economic Club of Washington D.C. later today.<\/p>\n

[1]<\/a><\/sup> The yield on the 10-year U.S. treasury increased by 10 basis points to reach 3.[2]<\/a><\/sup><\/p>\n

Notable companies reporting earnings this week include Disney (DIS), BP (BP), PepsiCo (PEP), Uber (UBER), Chipotle Mexican Grill (CMG), Hilton (HLT), Wendy’s (WEN), Coty (COTY), and PayPal Holdings (PYPL).[3]<\/a><\/sup><\/p>\n

Catalent (CTLT) surged more than 25% in pre-market trading after a Bloomberg report said that Danaher is said to be interested in acquiring the company.[4]<\/a><\/sup> Meanwhile, Pinterest (PINS) is down more than 6% after reporting Q4 revenue of $877.2 million, weaker than the consensus of $887.2 million.[5]<\/a><\/sup> Skyworks Solutions (SWKS) is up more than 8% to lead gainers in the S&P 500 after reporting Q1 adjusted operating income of $491.3 million, above the consensus of $487.9 million.[5]<\/a><\/sup> Oak Street Health (OSH) is up more than 30% after the Wall Street Journal report that the company is close to an agreement to be acquired by CVS Health for about $10.5 billion.[5]<\/a><\/sup><\/p>\n

Chipotle Mexican Grill (CMG) fell 4.6% after the company reported Q4 EPS of $8.29 versus $8.92 expected, while revenue came in at $2.2 billion versus $2.23B expected.[6]<\/a><\/sup> Cruise liner Royal Caribbean (RCL) gained after posting narrower-than-expected Q4 losses.[6]<\/a><\/sup> Bed Bath & Beyond Inc (BBBY) shares fell 43% on Tuesday after the struggling home goods retailer announced plans to sell $1 billion in stock to raise cash.[7]<\/a><\/sup> [8]<\/a><\/sup><\/p>\n

Overall, investors remain cautious ahead of the Fed Chair’s comments and the upcoming earnings season.<\/p>\n

0. <\/span>“U.S. stocks open lower as investors await Powell remarks” MarketWatch, 7 Feb. 2023, https:\/\/www.marketwatch.com\/story\/u-s-stocks-open-lower-as-investors-await-powell-remarks-01675780401<\/a><\/a><\/p>\n

1. <\/span>“Wall Street declines ahead of Powell’s statements” Economies.com, 7 Feb. 2023, https:\/\/www.economies.com\/markets\/americas-news\/wall-street-declines-ahead-of-powell’s-statements-42361<\/a><\/a><\/p>\n

2. <\/span>“Stock Market On The Defensive Ahead Of Powell’s Comments; C3.ai Up 150% | Investor’s Business Daily” Investor’s Business Daily, 6 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-catches-it-breath-after-recent-gains-onsemi-shows-strength\/<\/a><\/a><\/p>\n

3. <\/span>“Stock Market News Today: Indices Begin Week on a Low Note” TipRanks, 6 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-down-on-solid-jobs-report-and-fed-speech-ahead<\/a><\/a><\/p>\n

4. <\/span>“Stocks Lower On The Outlook For Hawkish Fed” Barchart, 6 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/13944294\/stocks-lower-on-the-outlook-for-hawkish-fed<\/a><\/a><\/p>\n

5. <\/span>“Stocks Mixed as Markets Brace for Fed Chair Powell’s Comments” Barchart, 7 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/13980929\/stocks-mixed-as-markets-brace-for-fed-chair-powells-comments<\/a><\/a><\/p>\n

6. <\/span>“Stock Market News Today: Futures Slide as Markets Reassess Powell’s Words” msnNOW, 8 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/stock-market-news-today-futures-slide-as-markets-reassess-powells-words\/ar-AA17f2U1<\/a><\/a><\/p>\n

7. <\/span>“U.S. stocks are falling as investors await comments from Fed’s Powell By Investing.com” Investing.com, 7 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/us-stocks-wobble-as-investors-await-comments-from-feds-powell-2997221<\/a><\/a><\/p>\n

8. <\/span>“Stock market news live updates: Stocks start week lower as investors ponder Fed’s rate path” Yahoo News, 6 Feb. 2023, https:\/\/news.yahoo.com\/stock-market-news-live-updates-february-6-2023-111713832.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US stocks opened lower on Wednesday, with the Dow Jones Industrial Average (DJIA) trading down 0.1% and the S&P 500 (SPX) down 0.2%.[0]<\/a><\/sup> The Nasdaq Composite (NDX) steadied at 11,888. Investors are awaiting comments from Federal Reserve Chair Jerome Powell, who will speak at the Economic Club of Washington D.C. later today.<\/p>\n

[1]<\/a><\/sup> The yield on the 10-year U.S. treasury increased by 10 basis points to reach 3.[2]<\/a><\/sup><\/p>\n

Notable companies reporting earnings this week include Disney (DIS), BP (BP), PepsiCo (PEP), Uber (UBER), Chipotle Mexican Grill (CMG), Hilton (HLT), Wendy’s (WEN), Coty (COTY), and PayPal Holdings (PYPL).[3]<\/a><\/sup><\/p>\n

Catalent (CTLT) surged more than 25% in pre-market trading after a Bloomberg report said that Danaher is said to be interested in acquiring the company.[4]<\/a><\/sup> Meanwhile, Pinterest (PINS) is down more than 6% after reporting Q4 revenue of $877.2 million, weaker than the consensus of $887.2 million.[5]<\/a><\/sup> Skyworks Solutions (SWKS) is up more than 8% to lead gainers in the S&P 500 after reporting Q1 adjusted operating income of $491.3 million, above the consensus of $487.9 million.[5]<\/a><\/sup> Oak Street Health (OSH) is up more than 30% after the Wall Street Journal report that the company is close to an agreement to be acquired by CVS Health for about $10.5 billion.[5]<\/a><\/sup><\/p>\n

Chipotle Mexican Grill (CMG) fell 4.6% after the company reported Q4 EPS of $8.29 versus $8.92 expected, while revenue came in at $2.2 billion versus $2.23B expected.[6]<\/a><\/sup> Cruise liner Royal Caribbean (RCL) gained after posting narrower-than-expected Q4 losses.[6]<\/a><\/sup> Bed Bath & Beyond Inc (BBBY) shares fell 43% on Tuesday after the struggling home goods retailer announced plans to sell $1 billion in stock to raise cash.[7]<\/a><\/sup> [8]<\/a><\/sup><\/p>\n

Overall, investors remain cautious ahead of the Fed Chair’s comments and the upcoming earnings season.<\/p>\n

0. <\/span>“U.S. stocks open lower as investors await Powell remarks” MarketWatch, 7 Feb. 2023, https:\/\/www.marketwatch.com\/story\/u-s-stocks-open-lower-as-investors-await-powell-remarks-01675780401<\/a><\/a><\/p>\n

1. <\/span>“Wall Street declines ahead of Powell’s statements” Economies.com, 7 Feb. 2023, https:\/\/www.economies.com\/markets\/americas-news\/wall-street-declines-ahead-of-powell’s-statements-42361<\/a><\/a><\/p>\n

2. <\/span>“Stock Market On The Defensive Ahead Of Powell’s Comments; C3.ai Up 150% | Investor’s Business Daily” Investor’s Business Daily, 6 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-catches-it-breath-after-recent-gains-onsemi-shows-strength\/<\/a><\/a><\/p>\n

3. <\/span>“Stock Market News Today: Indices Begin Week on a Low Note” TipRanks, 6 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-down-on-solid-jobs-report-and-fed-speech-ahead<\/a><\/a><\/p>\n

4. <\/span>“Stocks Lower On The Outlook For Hawkish Fed” Barchart, 6 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/13944294\/stocks-lower-on-the-outlook-for-hawkish-fed<\/a><\/a><\/p>\n

5. <\/span>“Stocks Mixed as Markets Brace for Fed Chair Powell’s Comments” Barchart, 7 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/13980929\/stocks-mixed-as-markets-brace-for-fed-chair-powells-comments<\/a><\/a><\/p>\n

6. <\/span>“Stock Market News Today: Futures Slide as Markets Reassess Powell’s Words” msnNOW, 8 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/stock-market-news-today-futures-slide-as-markets-reassess-powells-words\/ar-AA17f2U1<\/a><\/a><\/p>\n

7. <\/span>“U.S. stocks are falling as investors await comments from Fed’s Powell By Investing.com” Investing.com, 7 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/us-stocks-wobble-as-investors-await-comments-from-feds-powell-2997221<\/a><\/a><\/p>\n

8. <\/span>“Stock market news live updates: Stocks start week lower as investors ponder Fed’s rate path” Yahoo News, 6 Feb. 2023, https:\/\/news.yahoo.com\/stock-market-news-live-updates-february-6-2023-111713832.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":512,"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\/513"}],"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=513"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/512"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}