Key Takeaways
- U.S. equities fell at noon Monday, Feb. 5, 2024 as feedback by Federal Reserve Chair Jerome Powell raised issues policymakers won’t rush to chop rates of interest.
- Nvidia shares hit a document excessive after Goldman Sachs raised its value goal in anticipation of positive aspects from the factitious intelligence growth.
- McDonald's reported conflicts within the Center East damage its gross sales and shares declined.
U.S. equities slumped at noon Monday after feedback by Federal Reserve Chair Jerome Powell in a televised interview Sunday raised issues policymakers won’t rush to chop rates of interest. The Dow, S&P 500, and Nasdaq have been all decrease. The yield on the 10-year Treasury notice soared.
McDonald’s (MCD) shares tumbled after the fast-food large missed income forecasts as combating within the Center East damage its gross sales there.
The value of gold and different treasured metals dropped, and that drove down shares of Freeport-McMoRan (FCX) and rival miners.
Shares of Tesla (TSLA) additionally fell following a report CEO Elon Musk took medicine with board members.
Estee Lauder (EL) was the best-performing inventory within the S&P 500 after the cosmetics large introduced a restructuring because it exceeded revenue and gross sales estimates.
Nvidia (NVDA) shares hit a document excessive after Goldman Sachs raised its value goal in anticipation of positive aspects from the factitious intelligence growth.
Tyson Meals (TSN) reported better-than-expected outcomes on cost-cutting strikes, and shares superior.
Catalent (CTLT) shares additionally jumped as Ozempic and Wegovy maker Novo Nordisk (NVO) mentioned it will purchase the pharmaceutical tools provider in a $16.5 billion deal.
Oil futures declined. The U.S. greenback was increased versus the euro, pound, and yen. Most main cryptocurrencies traded within the crimson.
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