Stock market news live updates: Stock futures little changed as earnings roll in - Yahoo Money

rinwengi.blogspot.com

Stock futures were roughly flat Wednesday evening after a choppy regular session earlier, as investors continued to monitor a slew of corporate earnings results and economic data for evidence of the extent of the coronavirus’s impact.

A bevy of quarterly results Wednesday further underscored the divide between companies seeing some benefits from consumer behavior changes amid the pandemic, and those struggling to weather these disruptions.

As with peer “stay-at-home” related services like Netflix (NFLX), connected fitness company Peloton (PTON) grew business more than expected in its latest reported quarter. Quarterly revenue that jumped 66%, and quarterly paid digital subscribers grew by nearly the same margin, as the coronavirus forced people across the country to work – and exercise – almost exclusively from home.

Others conceded that any virus-related boost would eventually fade. Etsy (ETSY), an e-commerce platform that lists homemade products including cloth face shields, reported quarterly gross merchandise sales (GMS) that jumped 32% over last year and forecasted an as much doubling of GMS for the current quarter, but noted it expects “that the recent surge in demand is likely to ease.”

Meanwhile, ride-hailing company Lyft (LYFT) posted better than feared results for the three months through March and narrowed its quarterly adjusted loss before interest, taxes and other costs by 61% over last year, though adjusted sales growth slowed considerably. Earlier, General Motors (GM) cited a $1.4 billion negative coronavirus-related impact to earnings before taxes in the first three months of the year.

On the economic data front, new reports continued to shatter records when it came to measuring the impact of the coronavirus on various aspects of the domestic economy. U.S. employers cut more than 20 million private payrolls in April, ADP reported Wednesday, after weeks of Labor Department reports showed new weekly initial unemployment claims totaling in the multi-millions. The Labor Department’s next weekly jobless claims report is set for release Thursday morning, and is expected to show another 3 million individuals filed new unemployment claims for the week ended May 2.

—

6:04 p.m. ET Wednesday: Stock futures little changed

Here were the main moves at the start of the overnight session for U.S. equity futures, as of 6:04 p.m. ET:

• S&P 500 futures (ES=F): up 4.25 points, or 0.15%, to 2,837.75

• Dow futures (YM=F): up 21 points, or 0.09%, to 23,534.00

• Nasdaq futures (NQ=F): up 11.75 points, or 0.13%, to 8,963.75

A healthcare volunteer in protective gear grabs a novel coronavirus, COVID-19, test kit from a driver with a tong at a mobile test site in Los Angeles, Caifornia on May 6, 2020. - Some retailers in California, including bookstores, flower shops and clothing stores, will be allowed to reopen for business at the end of the week, the state's governor announced on Monday. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

—

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.

Find live stock market quotes and the latest business and finance news

For tutorials and information on investing and trading stocks, check out Cashay

Let's block ads! (Why?)

"stock" - Google News
May 07, 2020 at 05:17AM
https://ift.tt/3douMwK

Stock market news live updates: Stock futures little changed as earnings roll in - Yahoo Money
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF

Bagikan Berita Ini