Stocks choppy, Facebook’s Sandberg resigns, job openings near record: LIVE Updates

All three of the major U.S. averages gave up early gains to close lower across the board led by the Nasdaq Composite and S&P 500 as bond yields rose with the 10-Year Treasury yield hitting the highest since May 2022. Salesforce shares were the exception notching a gain of nearly 10% after lifting its outlook for 2Q. In commodities, oil rose to $115.26 per barrel. 

Sheryl Sandberg, Getty Images

Facebook COO Sheryl Sanberg is leaving the social media giant after 14 years, she announced on her page, in which she thanked founder and CEO Mark Zuckerberg for hiring her in this excerpt of the full post.

"When I was considering joining Facebook, my late husband, Dave, counseled me not to jump in and immediately try to resolve every substantive issue with Mark, as we would face so many over time. Instead, I should set up the right process with him. So, on the way in, I asked Mark for three things – that we would sit next to each other, that he would meet with me one-on-one every week, and that in those meetings he would give me honest feedback when he thought I messed something up. Mark said yes to all three but added that the feedback would have to be mutual. To this day, he has kept those promises. We still sit together (OK, not through COVID), meet one-on-one every week, and the feedback is immediate and real.Sitting by Mark’s side for these 14 years has been the honor and privilege of a lifetime. Mark is a true visionary and a caring leader. He sometimes says that we grew up together, and we have. He was just 23 and I was already 38 when we met, but together we have been through the massive ups and downs of running this company, as well as his marriage to the magnificent Priscilla, the sorrow of their miscarriages and the joy of their childbirths, the sudden loss of Dave, my engagement to Tom, and so much more. In the critical moments of my life, in the highest highs and in the depths of true lows, I have never had to turn to Mark, because he was already there.

U.S. stocks rose across the board as investors took in positive forecasts from both Salesforce and Delta. Investors are also awaiting the latest read on job openings via the JOLTS report due at 10am ET. In commodities, oil rose to $117 per barrel.  

Delta Airlines plane

Delta Airlines says revenue is returning to pre-pandemic levels.

"June quarter 2022 results with adjusted total revenue fully restored to 2019, a 13 to 14% operating margin, ~$1.5 billion of free cash flow and adjusted net debt below $20 billion" the company disclosed in a financial update.

"Total unit revenues are expected to be 7 to 8 points better than initially expected on capacity that is 1 to 2 points lower than planned. Unit revenue improvement is being driven by broad-based demand and pricing strength across consumer, business and international travel, with improvement through the quarter" it added.