Market Opens Green for Busy Earnings Week | What's Moovin
Morning mooers! It is Monday, April 29th, and the market is open and chugging away on most recent earnings. This week is the most jam packed earnings week so far, with 175 firms in the S&P 500 reporting.
My name is Kevin Travers, and I am writing this update from the Nasdaq offices in Times Square, where moomooo is holding a partnership event! Tune in to the live tab to see the presentations and KOL features.
Here are your morning moovers:
MOOVERS
$Tesla (TSLA.US)$ was the highest gainer on the S&P 500 after the firm announced it was on a pathway to getting approval for full self driving in China. The stock climbed 10%.
$Franklin Resources (BEN.US)$was the largest decliner on the S&P 500, after the firm reported Q2 results that did not meet up to expectations.
$SoFi Technologies(SOFI.US$ fell 8% after the firm reported a revenue beat, but its outlook was not enough.
SECTORS
As tracked by moomoo the Internet Content Sector fell the most, with both share classes of Alphabet pulling back about 2% after a 9% jump last week after the firm announced dividends.
Semiconductors were falling, though $ON Semiconductor (ON.US)$ reported earnings Monday morning that lived up to expectations.
Gold and silver futures were climbing, while Oil was falling. Bitcoin was falling slightly, leading to a pullback in crypto stocks.
RECAP
Indexes were in the green at 11 AM, riding the highs of the most recent tech earnings last week.
Just past 10:30 AM EST, the $S&P 500 Index (.SPX.US)$ climbed 0.31%. The $Dow Jones Industrial Average (.DJI.US)$ climbed 0.22%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.45%.
MACRO
This week, investors can expect an update form the FOMC on target Federal Funds Rates. Last week in macro, PCE inflation numbers for the month of March came out higher than expected, up 2.8% compared to 2.6%. The numbers follow GDP numbers for the first quarter that came out low Thursday, at 1.6% growth compared to expectations of 2.5%.
$U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed to 4.98 this morning after hitting 5.02% briefly, the$U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to 4.64.
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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