The First Slice for Friday, April 26, 2024

The First Slice for Friday, April 26, 2024

The First Slice for Friday, April 26, 2024

The S&P 500 had a rollercoaster ride on Thursday, closing lower but recovering from earlier losses. This fluctuation was spurred by Meta’s struggle, with its stock plummeting nearly 11% after announcing weaker-than-expected revenue projections for the second quarter. This setback overshadowed other tech giants like Microsoft and Alphabet, whose earnings reports were due after the closing bell.

Adding to the market’s jitters were rising Treasury yields, driven by economic data showing slower-than-expected growth in the first quarter and persistently high inflation. These factors prompted traders to rethink expectations for a rate cut by the Federal Reserve, pushing back projections to December. The possibility of stagflation—a scenario of stagnant economic growth paired with inflation—loomed, although some economists argued that underlying domestic demand remained robust despite headline GDP figures.

Meanwhile, IBM faced its challenges, with a notable 8% drop in its stock price following disappointing first-quarter earnings. However, the company’s acquisition of Hashicorp for $6.4 billion garnered attention as a strategic move to bolster its software portfolio, echoing its previous acquisition of Red Hat.

During these market movements, individual companies experienced varying fortunes. Caterpillar stumbled despite beating earnings expectations, while Ford faced a slight dip despite positive first-quarter results, attributed partly to weakness in its electric vehicle segment. On a brighter note, Chipotle Mexican Grill exceeded expectations, boosting its stock price, while Rubrik soared on its market debut following a successful IPO……….First-Slice-e1700879991202 The First Slice for Friday, April 26, 2024[read more]

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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