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Apr 03 | Daily Finance News

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0403 closing stock market

U.S. STOCK PICKS

Closing: 4:00 PM EST

  • The 30-stock Dow fell 43.10 points, or 0.11%, to close at 39,127.14, marking its third straight negative day. The S&P 500 inched higher by 0.11% to finish at 5,211.49 for its first winning session of the week. The Nasdaq Composite traded up by 0.23%, ending at 16,277.46.
  • The Dow was hurt by a decline of more than 8% in Intel after the company posted operating losses in its semiconductor manufacturing business dragged.
  • Artificial intelligence darling Nvidia swung into the red despite trading higher for much of Wednesday, also restricting gains for the market. But sentiment was buoyed by gains in mega cap technology stocks including Netflix and Meta Platforms, which climbed more than 2% and 1%, respectively.
  • Fed’s Powell emphasizes need for more evidence that inflation is easing before cutting rates.
  • Private payrolls increased by 184,000 in March, better than expected, ADP says.
  • Amazon cuts hundreds of jobs in cloud computing unit.

Apr 03 | Daily Finance News

U.S. STOCK PICKS

  • The S&P 500 was near flat on Wednesday, as Wall Street’s struggles to start the second quarter of 2024 continued.
  • ADP data released Wednesday showed private payrolls grew more than expected in March. It offered another sign of resiliency in the economy as investors grow increasingly concerned about the path of interest rate cuts from the Federal Reserve.
  • Steve Cohen says the Fed may have a hard time getting inflation down to its goal.
  • Intel shares fall after company reveals $7 billion operating loss in foundry business.
  • Amazon ditches cashierless checkout system at its grocery stores.
  • Lightspeed to cut 280 jobs as it looks to turn profitable.

CANADA MARKET

  • Toronto home prices rise, but sales slow in March.
  • Tech industry says barriers keep Canadian companies from selling to government.
  • Canada services PMI falls in March as downturn lengthens.

*All information sourced from news portals such as CNBC, Yahoo Finance, Reuters, etc.

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