{"id":62512,"date":"2024-05-08T16:06:41","date_gmt":"2024-05-08T16:06:41","guid":{"rendered":"https:\/\/hub.onequity.com\/?p=1655"},"modified":"2024-05-08T16:06:41","modified_gmt":"2024-05-08T16:06:41","slug":"u-s-stocks-fall-with-corporate-earnings-in-focus-ahead-of-fed-statement","status":"publish","type":"post","link":"https:\/\/insights.onequity.com\/ar\/u-s-stocks-fall-with-corporate-earnings-in-focus-ahead-of-fed-statement\/","title":{"rendered":"U.S. stocks fall with corporate earnings in focus ahead of Fed statement"},"content":{"rendered":"\n

U.S. stocks fell Wednesday, with investors digesting a slew of corporate earnings in anticipation of more statements from Federal Reserve policymakers. <\/p>\n\n\n\n

More statements from the Fed<\/strong><\/h2>\n\n\n\n

Growing optimism about a likely interest rate cut has been dampened by a series of Fed officials who have indicated that interest rates will remain unchanged in the near term.<\/p>\n\n\n\n

Minneapolis Fed President Neel Kashkari reported that inflation could lead to unchanged interest rates for the remainder of the year, even as markets begin to expect a higher probability of a rate cut in September after weaker-than-expected nonfarm payrolls data.<\/p>\n\n\n\n

Meanwhile, as the labor market appears to be showing signs of cooling, inflation is expected to remain a key focus for the Fed. Next week’s consumer price index data for April will be released, and anticipation of this has also dampened movements on Wall Street.<\/p>\n\n\n\n

Additionally, several Fed officials are due to speak today, Wednesday, including Vice Chairman Philip Jefferson, Governor Lisa Cook, and Boston Fed President Susan Collins.<\/p>\n\n\n\n

There remains a great deal of uncertainty about when the Fed will begin cutting interest rates, with officials typically adjusting estimates for a later start and less monetary policy easing overall this year.<\/p>\n\n\n\n

Uber falls after reporting quarterly loss<\/strong><\/h2>\n\n\n\n

First-quarter earnings season continues\u00a0apace, Wednesday. Shares of Uber Technologies (UBER) plunged about 8% after the company reported first-quarter losses and missed bookings estimates.<\/p>\n\n\n\n

Its competitor Lyft (LYFT) outperformed, rising more than 4% after projecting higher-than-expected net bookings and reporting a core profit for the quarter.<\/p>\n\n\n\n

Reddit (RDDT) rose 8% after the social networking platform showed much better-than-expected first-quarter earnings, as well as positive second-quarter guidance, in the company’s first earnings season as a publicly traded company.<\/p>\n\n\n\n

Online lending platform Upstart (UPST) plunged 12% after offering poor estimates for the current quarter.<\/p>\n\n\n\n

Electric car producer Rivian Automotive (RIVN) plunged nearly 8% after reporting a larger-than-expected first-quarter loss, and video game maker Electronic Arts (EA) lost 2% as a result of its dismal results and forecasts.<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. stocks fell Wednesday, with investors digesting a slew of corporate earnings in anticipation of more statements from Federal Reserve policymakers.  More […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2935,633],"tags":[],"class_list":["post-62512","post","type-post","status-publish","format-standard","hentry","category-markets","category-stocks"],"acf":[],"yoast_head":"\nU.S. stocks fall with corporate earnings in focus ahead of Fed statement - OnEquity<\/title>\n<meta name=\"description\" content=\"U.S. stocks fall as investors weigh corporate earnings and await the Federal Reserve's policy statement. 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