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Apr 16 | Daily Finance News

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U.S. STOCK PICKS

  • The Dow Jones Industrial Average edged higher on Tuesday, as the blue-chip average attempted to snap a six-day losing streak.
  • Traders will monitor remarks from Federal Reserve Chair Jerome Powell, who is set to speak at the Washington Forum on the Canadian Economy in the afternoon. Investors will watch for any insights into the path of monetary policy.
  • UnitedHealth shares rallied more than 6% on the back of better-than-expected revenue for the first quarter. But Johnson & Johnson, another Dow member, posted mixed quarterly results, sending shares down almost 2%.
  • Morgan Stanley advanced more than 2% after beating analyst consensus forecasts on both lines.
  • Bank of America also topped expectations for the quarter, but shares slipped around 3%.
  • America’s largest companies have given Wall Street reason for optimism in the early innings of the new corporate earnings season. Of the less than 10% of S&P 500-listed firms that have reported financials, nearly four of of every five have exceeded Wall Street consensus estimates, according to FactSet.
  • But higher rates continued to weigh on investors. The 10-year U.S. Treasury yield continued trading above the key 4.6% level on Tuesday, marking its highest point going back to November.
  • AMD rolls out its latest chips for AI PCs as competition with Nvidia and Intel heats up.
  • Tesla job cuts heighten Wall Street concerns that EV maker faces a demand problem.

CANADA MARKET

  • Housing starts down seven per cent in March from February: CMHC
  • Canada's inflation rate ticks up to 2.9% in March amid higher gas prices, boosting June rate-cut bets

Apr 16 | Daily Finance News

Read All AiF Insight and Opinions

U.S. STOCK PICKS

Closing: 4:00 PM EST

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

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