The Nasdaq and the S&P closed lower for the 3rd consecutive day. The Dow is closing unchanged – maybe with a small 1 point gain as the final trades are processed.
The final numbers are showing:
- Dow industrial up about 2.67 points or 0.01% at 33852.52
- S&P index is down 6.32 points or -0.16% at 3957.63
- NASDAQ index is down -65.71 points -0.59% at 10983.79
- Russell 2000 is closing up 5.58 points or 0.31% at 1836.55.
US yields did not help the stock market today.
- two year yield is at 4.481%, +1.0 basis points
- 10 year is that 3.757% up 5.5 basis points
- 30 year is at 3.810% up 6.1 basis points
There is a report today that there will be a shortfall in iPhone production for the iPhone 14 Pro and 14 pro max between 15 – 20 million units as a result of plant labor protests. The price of Apple shares fell $3.11 or -2.16%. Apple was the biggest drag on the Dow today
After the close,
- Intuit reported Q1 earnings-per-share oh $1.66 versus $1.22 expected. Revenues came in at $7.87 billion versus $7.43 billion expected. Intuit shares are trading at $381.54 that’s up from the closing level $379.71.
- HP beat on revenues at $7.87 billion versus $7.42 billion. Earnings-per-share came in at $0.57 versus $0.56 estimate HPE is trading at $15.91 in after hours after closing at $15.46.
- Crowdstrike revenues came in at $581 million versus $574 million estimate. Earnings-per-share came in at $0.40 versus $0.31 estimate. Crowdstrike shares are down over $20 or 14.5% in after-hours trading despite the beat.