Citigroup

Citigroup must face a revived lawsuit claiming it caused more than $1 billion of losses by orchestrating and concealing a vast fraud at the now-bankrupt Mexican oil and gas services company Oceanografia, a U.S. appeals court ruled on Thursday.» Mehr auf reuters.com

Live Updates Live Coverage Has Ended GOOGL Falls 9% 2:51 pm by Gerelyn Terzo Google parent Alphabet (Nasdaq: GOOGL) stock is down a steep 9% to below $150 per share today after an Apple (Nasdaq; AAPL) executive told Bloomberg that conventional search engines would soon be replaced by those powered by AI. Rates Unchanged but Risks Remain 2:12 pm by Gerelyn Terzo The Dow has recovered, reversing a 200-point loss after the Federal Reserve left interest rates unchanged. Policymakers kept the range of short-term borrowing rates between 4.25% and 4.5%, as widely expected. In commentary, the Fed pointed to heightened economic uncertainty, including rising risks around inflation and unemployment. Policymakers also introduced the idea of stagflation, causing the S&P 500 and Nasdaq Composite to withhold any gains. NFLX at All-Time High 10:53 am by Gerelyn Terzo Netflix (Nasdaq: NFLX) stock is up 1.8% today, clinching a fresh all-time high of $1,162 per share. The content-streaming stock has risen 2.5% in May as speculation of an upcoming stock split grows. The stock has been trading dominantly in the green over the past month. Not to be outdone, fellow streaming stock Spotify (NYSE: SPOT) is up 3.2% today and is hovering at a record high of $660.00. Big Tech & Financials 10:07 am by Gerelyn Terzo Wolfe Research reportedly believes certain stocks have proven they are equipped to weather the tariff storm based on the trajectory of Q1 earnings results. The firm’s chief investment strategist Chris Senyek is optimistic on the following companies, from Big Tech to financials: Meta Platforms (Nasdaq: META) Netflix (Nasdaq: NFLX), whose shares are hitting new highs today. Citigroup (NYSE: C) JPMorgan Chase (NYSE: JPM) Positive Earnings Surprises 10:04 am Medical research equipment stock Charles River Labs (NYSE: CRL) is ballooning by 21% today after reporting its Q1 results. The company reported a profit of $25.5 million, beating consensus estimates. Revenue came in at $984.2 million, also surpassing estimates. As of May 2, nearly three-quarters of S&P 500 companies had reported earnings, 76% of which had a positive surprise while nearly two-thirds reported a positive revenue surprise, according to Factset. Earnings growth is hovering at 12.8%, placing the index on pace for its second consecutive quarter of double-digit percentage earnings growth. This article will be updated throughout the day, so check back often for more daily updates. As the markets await the Federal Reserve’s decision on short-term interest rates, stocks are experiencing some relief. After two straight sessions of losses, the markets are moving higher, including a 0.15% gain in the tech-fueled Nasdaq Composite. The Dow Jones Industrial Average and S&P 500 are also posting fractional gains. Markets are encouraged by plans for U.S. and China officials to come to the negotiating table on tariffs ahead of comments by Fed Chairman Jerome Powell later today. Economists largely expect the Fed to leave interest rates unchanged. Bank of America has warned that cutting interest rates may not be a top priority for the Fed, suggesting that while the markets are pricing in a trio of rate cuts in 2025, they aren’t likely to begin until mid-summer despite urging by President Trump to begin rate cuts sooner. Dow stock Walt Disney (NYSE: DIS) is helping to lift market sentiment today, rising 10.5% after reporting on plans for an expansion push with a theme park in Abu Dhabi. Magnificent Seven stocks are mixed after Tesla (Nasdaq: TSLA) reported EV sales slowed in China. Tesla plans to introduce its robotaxi service in Texas next month. Here’s a look at the performance as of morning trading: Dow Jones Industrial Average: Up 211.39 (+0.52%) Nasdaq Composite: Up 44.67 (+0.23%) S&P 500: Up 19.17 (+0.34%) Market Movers Uber (NYSE: UBER) fell short on revenue estimates owing to an 18% drop in trip year-over-year. Novo Nordisk (NYSE: NVO) is rising 3% fueled by optimism for weight loss drug Wegovy demand. The company also slashed its 2025 outlook but the markets are seeing the glass half full. EV maker Rivian Auto (Nasdaq: RIVN) is up 2% after reporting its Q1 results despite warning that demand will take a hit from tariffs. The post Live Nasdaq Composite: Markets Rise on Fed Day Amid Trade Deal Hopes appeared first on 24/7 Wall St..» Mehr auf 247wallst.com

Live Updates Live Coverage Has Ended Rates Unchanged, Stagflation Looms 2:20 pm by Gerelyn Terzo The Dow has reversed a deficit, turning a 200-point drop to a 27-point gain after the Federal Reserve kept interest rates unchanged. The FOMC decided to keep the range of short-term borrowing rates between 4.25% and 4.5%, as widely anticipated. The Fed pointed to a perfect storm of heightened economic uncertainty as well as rising risks around inflation and unemployment. Additionally, policymakers see a threat of stagflation rearing its head, causing the S&P 500 and Nasdaq Composite to remain under pressure. Survival Stocks 12:02 pm by Gerelyn Terzo Wolfe Research has reportedly issued a note saying certain stocks are equipped to weather the tariff storm based on solid fundamentals. The firm’s chief investment strategist Chris Senyek pointed to the following names: Meta Platforms (Nasdaq: META) Netflix (Nasdaq: NFLX), whose shares are hitting new highs today. Citigroup (NYSE: C) JPMorgan Chase (NYSE: JPM) S&P 500 Earnings Surprises 10:30 am by Gerelyn Terzo With about 75% of S&P 500 companies having published earnings results, more than three-quarters of them have surprised to the upside on profits while almost 66% reported a positive revenue surprise, according to Factset. Earnings growth is nearing 13%, placing the index on track for its second consecutive quarter of double-digit percentage earnings growth. This article will be updated throughout the day, so check back often for more daily updates. The markets have made their way into the green today after starting the week with a sluggish start. According to traders, there are signs that buying demand is going to persist based on U.S. equities flow data. David Marlin of Marlin Capital reported that “U.S. equities benefitted from $61B+ of mechanical/systematic flows last week,” suggesting that the trend is poised to continue. The Fed remains the wildcard as the FOMC meets even now to determine the fate of short-term interest rates. All three of the major stock market averages are trading higher, and the SPX ETF is gaining 0.43%. Tariffs loom but markets are hopeful on reports U.S. and China officials are beginning trade deal talks. The markets will also have to process comments on monetary policy from Fed Chairman Jerome Powell this afternoon. Bank of America cautioned that the Fed won’t start cutting interest rates until July rather than complying with President Trump’s expectations for policymakers to lower rates sooner than later. Dow stock Walt Disney (NYSE: DIS) is boosting market sentiment, tacking on over 10% after reporting earnings and revealing a blueprint for a theme park in Abu Dhabi. Magnificent Seven stocks are a mixed showing. Tesla (Nasdaq: TSLA) revealed EV sales slowed in China. There is excitement around its robotaxi service set to launch in Texas next month. Here’s a look at the performance as of morning trading: Dow Jones Industrial Average: Up 222.27 (+0.49%) Nasdaq Composite: Up 74.07 (+0.39%) S&P 500: Up 22.51 (+0.40%) Market Movers Medical research equipment stock Charles River Labs (NYSE: CRL) is rallying by 21% today after reporting its Q1 results. The company reported a better-than-expected profit of $25.5 million on revenue of $984.2 million, also surpassing consensus estimates. Uber (NYSE: UBER) stock is falling 1.5% today on revenue weakness. Novo Nordisk (NYSE: NVO) is adding 3% on hopes for weight loss drug Wegovy demand. The company also cut its 2025 outlook but the markets are focused on the positive. EV maker Rivian Auto (Nasdaq: RIVN) is up 2% after reporting its Q1 results despite warning that demand will take a hit from tariffs. The post S&P 500 INDEX (SPX) Live: Markets Eye Potential Bullish Trend as Buying Resumes appeared first on 24/7 Wall St..» Mehr auf 247wallst.com