Live Nasdaq Composite: CSX (Nasdaq: CSX) Rises Amid Pivot to Earnings

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Market Gains Slip

8:17 am

The Nasdaq Composite and S&P 500 are struggling to keep their grip on gains after coming out of the gate higher, while the Dow Jones Industrial Average remains pressured with a 1.2% loss on the day. UnitedHealth (NYSE: UNH) stock is a major drag on the Dow, owing to disappointing quarterly results, while CSX (Nasdaq: CSX) remains a bright spot, rising 1.2% on the day.

Chip stock Qualcomm (Nasdaq: QCOM) is up nearly 1% this morning on a bullish report out of Citi analysts.

Sector performance is largely positive, led by a 2.4% gain in energy stocks but dampened by a tech sector that has just turned south.

After yesterday’s massive technology sell-off, the markets are licking their wounds, with the three major stock market averages giving a mixed showing. Among the gainers is the Nasdaq Composite with a 0.63% advance and the S&P 500 also fractionally higher while the Dow Jones Industrial Average is currently erasing over 400 points. Most sectors of the economy are seeing green today, a complete reversal from yesterday’s leader board. The markets are still processing Fed Chairman Jerome Powell’s comments from yesterday, which were on the hawkish side of monetary policy.

Earnings are capturing some attention away from tariffs with railway CSX (Nasdaq: CSX) gaining 1% on the heels of its Q1 print. CSX faced challenges in the quarter, including a 7% year-over-year decline in revenue, but met consensus expectations amid a backdrop of weaker coal prices and dwindling fuel surcharges.

Big Tech is mostly showing green this morning but remains mired in losses over the past five-day stretch, including a 2% drop in Apple (Nasdaq: AAPL), 14% decline in Meta (Nasdaq: META) and nearly 9% drop in Nvidia (Nasdaq: NVDA) over the past week or so.

UnitedHealth (NYSE: UNH) is a big drag on the Dow, shaving off 18% of its value today alone on disappointing earnings results.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 446 (-1.09%)
Nasdaq Composite: Up 118.75 (+0.65%)
S&P 500: Up 22 (+0.41%)

Market Movers

Qualcomm (Nasdaq; QCOM) is rising today on the heels of a bullish report out of Citi analysts, who reportedly raised estimates on the company and added it to their positive catalyst watchlist thanks to robust demand for its chipsets out of China. QCOM stock has been volatile and is down 11% year-to-date.

Citi also likes Generac Holdings (Nasdaq: GNRC), upgrading the stock to “buy” with a “high-risk” tone from “neutral.”

BMO has upgraded shares of wood producer (NYSE: TREX) Trex to “outperform” from “market perform,” calling shares attractive. The stock is up 1.8% today.

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