Nasdaq leads stocks, Winklevoss twins warn of ‘crypto winter’, jobs data on tap: LIVE UPDATES
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| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:COMP | $12,316.90 | +322.44 | +2.69% |
| NVDA | $195.92 | +12.72 | +6.94% |
| AMD | $108.59 | +7.37 | +7.28% |
| MSFT | $274.58 | +2.16 | +0.79% |
The Nasdaq Composite led gains for U.S. stocks helped by chipmakers Nvidia and AMD, while Microsoft erased losses after cutting its 4Q revenue outlook to close higher. The S&P saw 10 of its 11 sectors rally led by consumer discretionary and material companies. In commodities, oil gained 1% to $116.87 per barrel.
Stephen Guilfoyle and Keith Fitz-Gerald provide advice on investing on 'The Claman Countdown.'
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:COMP | $12,143.53 | +149.07 | +1.24% |
| NVDA | $193.12 | +9.92 | +5.41% |
| AMD | $106.01 | +4.79 | +4.73% |
| TSLA | $784.38 | +44.01 | +5.94% |
| CRM | $182.36 | +6.31 | +3.58% |
| I:DJI | $32,893.23 | +80.00 | +0.24% |
The Nasdaq Composite helped drive a mid-morning rebound for U.S. stocks with chipmakers Nvidia and AMD rallying, along with Tesla, while Salesforce helped support the Dow Jones Industrial Average.
Microsoft Headquarters
Microsoft, ahead of the opening bell, lowered its revenue guidance for the 4Q.
"On June 2, 2022, Microsoft Corporation updated our guidance for the quarter ending June 30, 2022 due to unfavorable foreign exchange rate movement in the quarter through May"
The tech-giant now expects to earn as much as $16.7B down from the initial goal of $16.8B.
Ford Signage
Ford plans to add 6,200 new United Auto Workers Union jobs in Michigan, Ohio and Missouri, the company announced Thursday. The roles will convert 3,000 temporary roles to full-time.
"New jobs expected to create about 74,000 indirect new jobs in America by the end of 2026" the company added.
Stock trading (AP)
U.S. equity futures traded higher Thursday morning as equities rebound from Wednesday's losses. Traders will study two reports on private-sector hiring for May and weekly jobless claims.
Oil well (Reuters)
The price of oil traded lower Thursday morning, falling by more than 2%. Saudi Arabia is reportedly prepared to increase oil production if Russia's output falls substantially under the new sanctions imposed by the European Union.
Gas Prices (AAA)
The average price for a gallon of gasoline in the U.S. rose to a record on Thursday at $4.715, according to the latest numbers from AAA. The price on Wednesday was $4.67. The price of diesel increased to $5.556 from $5.538.
Bitcoin fell below $31,000 after a drop of more than 6% on Wednesday. It was the largest drop since an 8% fall in early May. Stocks also declined. Bitcoin is down 36% year-to-date. Ether is around $1,800. Dogecoin is around 8 cents.
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