{"id":43805,"date":"2023-08-03T02:17:24","date_gmt":"2023-08-03T06:17:24","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/stock-market-today-dow-edged-higher-but-sp-stumbled-after-deluge-of-earnings\/"},"modified":"2023-08-03T02:17:26","modified_gmt":"2023-08-03T06:17:26","slug":"stock-market-today-dow-edged-higher-but-sp-stumbled-after-deluge-of-earnings","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43805","title":{"rendered":"Stock market today: Dow edged higher but S&P stumbled after deluge of earnings"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Investing.com — The S&P 500 stumbled Tuesday, pressured by weakness in consumer stocks as investors digested the latest round of quarterly results. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

The fell 0.3%, the rose 0.2%, or 71 points, and the was down 0.4%.<\/p>\n

Falling cruise stocks weigh on market<\/h2>\n

Norwegian Cruise Line Holdings Ltd <\/span><\/span> (NYSE:)\u00a0slumped 12% after the cruise company\u2019s third-quarter guidance fell short of estimates and overshadowed its better-than-expected .<\/p>\n

The company forecast adjusted EPS of 70 cents a share in the third quarter, below estimates of 80 cents per share, stoking investor worry about demand.<\/p>\n

The weaker guidance weighed on other cruise stocks including Carnival Corporation (NYSE:).<\/p>\n

Pfizer drags health care lower; Merck impresses<\/h2>\n

Pfizer <\/span><\/span> Inc (NYSE:) reported mixed quarterly\u00a0results as earnings topped, but revenue fell short of estimates.<\/p>\n

The company also cut its full-year revenue guidance warning of \u201cnear-term revenue challenges.\u201d<\/p>\n

Merck & Company Inc (NYSE:), meanwhile, reported a narrower loss as topped\u00a0analyst estimates, underpinned by the strength of its cancer drug Keytruda.<\/p>\n

Uber and Cat shine on earnings stage<\/h2>\n

Uber Technologies Inc <\/span><\/span> (NYSE:) fell 5.7% after its third-quarter guidance overshadowed , missing analyst estimates on both the top and bottom lines. The company also reported its first quarter of free cash flow of over $1 billion and its first operating profit.\u00a0<\/p>\n

Uber\u2019s management’s guidance for the third quarter \u201ccalls for adj. EBITDA in the range of $975mm to $1,025mm, ahead of the Street’s $927mm forecast and above our $950mm estimate,\u201d Wedbush said as it raised its price target on the stock to $55 from $52.<\/p>\n

Jobs market shows signs of softness<\/h2>\n

On the economic front, the labor market looks to be easing after the number of in June fell more than expected in June to 9.58\u00a0million, from 9.61M openings in May.<\/p>\n

The signs of weaker labor demand are likely to be welcomed by the Federal Reserve and bolster expectations that rate hikes are unlikely to be resumed.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com — The S&P 500 stumbled Tuesday, pressured by weakness in consumer stocks as investors digested the latest round of quarterly results. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The fell 0.3%, the rose 0.2%, or 71 points, and the was down 0.4%. Falling cruise stocks weigh on market Norwegian Cruise Line Holdings Ltd (NYSE:)\u00a0slumped 12% after the cruise […]<\/p>\n","protected":false},"author":1,"featured_media":3257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-43805","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nStock market today: Dow edged higher but S&P stumbled after deluge of earnings | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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