Shares of Tesla fell after the company’s first-quarter sales results missed estimates, though earnings and automobile gross margins exceeded expectations in the report delivered Monday evening.
Earnings results will pick up on Tuesday with companies including Microsoft poised to report results.
“Except for Google, you get the FAANG stocks, and they’ve been dead money for 7, 8, 9 months now,” Matt Maley, managing director and chief market strategist at Miller Tabak, told Yahoo Finance on Monday.
Tuesday will also mark the first of the Federal Reserve’s two-day rate-setting meeting, with the event ultimately unlikely to yield any major shifts in monetary policy.
“The Fed has been very clear that this time around they’re going to wait to see inflation before they reaction.” Kelsey Berro, JPMorgan Asset Management Fixed Income Portfolio Manager, told Yahoo Finance.
Supply chain and freight revenue rose 34%, underscoring the pick-up in corporate activity as the economy broadly reopens.
BMO Capital Markets analyst Ambrish Srivastava wrote in a note that his team observed that beyond solid demand for PCs, the market for graphics chips that AMD produces was also strong in the first quarter.
judge on Monday found that Huawei did not violate a court order by sharing certain information with its chief financial officer, who is using it to help fight her extradition from Canada.
Members of the World Trade Organization are due to discuss a proposal by India and South Africa to waive certain provisions of the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights on April 30, but the United States and a few other big countries have blocked such a move.
-General Electric saw less cash outflow than estimated in the first quarter even as its lucrative jet engine business struggled with the pandemic-led collapse of air travel, driving down company revenue.