Introducing closing bell coverage with market analysis team.
Katie Greifeld
Noting another significant equity rally with back-to-back gains.
Carol Massar
Nasdaq 100 has 10 straight days of gains, longest streak since 2021, up almost 1.8% today.
Carol Massar
Oil is not higher today but remains 60% higher year-to-date, with WTI up 60% and Brent 56% higher than pre-war levels.
Isabelle Li
Expressing disbelief at equity recovery given impact on consumers, energy prices, earnings season, and military spending prospects in unstable world.
Tim
S&P 500 up 1.2%, near record high; Nasdaq up nearly 2%; Dow up 0.7%; Russell 2000 also higher showing broad market breadth.
Carol Massar
Sector performance: technology and communication services up >2%, energy down 1.5%, consumer staples flat.
Katie Greifeld
Airlines outperformed with S&P 500 airline index up >5.25%, JetBlue up 17%, American up 8% on merger speculation.
Katie Greifeld
Amazon acquiring Globalstar for $11.6B, Amazon stock up 3.8%.
Katie Greifeld
Wells Fargo fell 5.7% on weak Q1 results across income streams, though consumer spending remains resilient per CFO.
Isabelle Li
JPMorgan lowered full-year NII guidance to ~$103B, shares down 0.8% despite record trading revenue.
Isabelle Li
CarMax down 15% as investors unconvinced by turnaround strategy of cutting prices while increasing cost savings.
Isabelle Li
Bond market rally with yields down 4-5bps on 10-year after milder-than-expected March PPI, though yields remain much higher over past six weeks.
Katie Greifeld
Trend of college kids launching startups as job market tightens and college costs rise, with VCs seeking them out.
Katie Greifeld
AI ubiquity may lead to more young entrepreneurs starting businesses.
Carol Massar
Mixed martial arts company linked to Donald Trump Jr seeking government contracts to teach fighting techniques to military/police.
Katie Greifeld
Questioning relevance of hand-to-hand combat training given modern warfare is technology and intelligence-driven.
Tim