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Market Update
U.S. futures experienced a decline this morning after the Nasdaq Composite achieved a new record high close yesterday, with the index reaching 17,032.66 and closing 0.6% higher. This surge was supported by a 7% gain in Nvidia stock.
Stock Futures
- Nasdaq 100: down by about 0.57%
- S&P 500: down by about 0.54%
- Dow Jones Industrial Average: down by about 0.49%
After-Hours Trading
American Airlines stock fell over 6% after reducing its Q2 revenue and earnings outlook, while CAVA Group declined 2.6% despite reporting better-than-expected results for the first quarter of Fiscal 2024. On a positive note, Robinhood gained 4% on plans to buy back shares worth $1 billion.
Upcoming Reports
Several companies, including Abercrombie Fitch, Bank of Montreal, and Salesforce, are expected to report their quarterly numbers today. Additionally, no major economic reports are due for release today.
Market Indicators
- U.S. 10-year treasury yield: up, hovering near 4.56%
- WTI crude oil futures: trending higher, hovering near $80.34 per barrel
European Market
European indices opened lower today, with traders anticipating the release of key inflation data for Germany later in the day.
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