Live Nasdaq Composite: Markets Rise on Fed Day Amid Trade Deal Hopes
Live Updates Live Coverage Updates appear automatically as they are published. 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. […] The post Live Nasdaq Composite: Markets Rise on Fed Day Amid Trade Deal Hopes appeared first on 24/7 Wall St..
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Positive Earnings Surprises
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..
