Investing.com – Before the market opened on Thursday (25th), U.S. stock index futures fell sharply, with the Dow, Nasdaq, S&P 500, and small-cap index futures all falling more than 1% after the first-quarter GDP data released by the United States released negative news. .
On the one hand, the U.S. GDP growth rate in the first quarter exceeded expectations from 3.9% to 1.6%, which was expected to be 2.5%. On the other hand, the U.S. first-quarter GDP deflator, one of the inflation indicators, rose to 3.1% from 1.7%, higher than the expected 3.0%.
This situation shows that although the economy is slowing down faster than expected, the inflation problem is also more serious than expected, and it has greatly increased the difficulty of the Federal Reserve’s decision-making.
stocks before market opening
Facebook parent company Meta Platforms (NASDAQ:) fell 15%. Its second-quarter revenue outlook is weaker than expected and capital expenditures are expected to increase significantly.
Dragged down by Meta, Microsoft (NASDAQ:) fell 2.21%, Amazon (NASDAQ:) fell 2.50%, and Google parent company Alphabet (NASDAQ:) fell 3.13%.
However, Apple (NASDAQ:) rose 0.34%. NVIDIA (NASDAQ:) rose 0.42%,
IBM (NYSE:) fell 8.6% after its first-quarter earnings report was weaker than expected. It also announced that it would acquire cloud software company Hashicorp (NASDAQ:) for US$6.4 billion, which rose 4%.
American Airlines (NASDAQ: ) rose 5.2%, predicting that this quarter’s profit will be much better than expected, and business travel demand and summer tourism demand are strong.
Ford Motor Co (NYSE: ) rose 1.1% on positive first-quarter earnings, strong performance in its commercial vehicle division, growth in hybrid vehicle sales and upbeat guidance.
Chipotle Mexican Grill (NYSE: ) rose 3.3% after first-quarter profit beat expectations, benefiting from higher menu prices.
Caterpillar ( Caterpillar ) (NYSE: ) fell 4% as sales fell, but profit increased thanks to higher product prices.
Merck (NYSE: ) rose 1.9% after raising its annual profit and revenue forecast, helped by strong sales of cancer treatment Keytruda and human papillomavirus vaccine Gardasil.
Royal Caribbean (NYSE: ) rose 3.4% after raising its annual profit forecast for the second time this year on strong demand for cruise travel and onboard passenger spending.
Southwest Airlines (NYSE: ) fell 7.2% after lowering Boeing’s new aircraft delivery forecast for 2024 for the third time. The company also said it would adopt a cost-cutting plan.
Harley-Davidson (NYSE: ) rose 3.5% after first-quarter profit beat expectations on strong sales in North America.
Comcast (NASDAQ: ) rose 1.2% after quarterly revenue beat expectations as subscriber growth for its streaming service Peacock exceeded expectations and theme park attendance also showed positive results.
Tesla (NASDAQ: ) rose 0.44%.
Chinese concept stocks
The China Internet ETF KraneShares CSI China Internet (NYSE: ) fell 0.75%.
NIO (NYSE:) (HK:) fell 1.2%, Li Auto (NASDAQ:) (HK:) fell 2.2%, and Xpeng Motors (NYSE:) (HK:) rose 0.4%.
Bilibili (NASDAQ:) (HK:) fell 0.76%, iQiyi (NASDAQ:) fell 1.2%, and Huya (NYSE:) fell 1.3%.
Alibaba (NYSE:) (HK:) fell 0.5%, JD.com (NASDAQ:) (HK:) rose 0.02%, and Pinduoduo (NASDAQ:) fell 0.4%.
Baidu (NASDAQ:) (HK:) rose 0.10%. NetEase (NASDAQ:) (HK:) fell 0.37%.
other markets
Most European stock markets fell, falling more than 1%.
Asia-Pacific stock markets were mixed.
After the US GDP data was released, it rose again after diving.
Comex, the New York Mercantile Exchange, fluctuated sharply.
microliter.
financial report
Pre-open: Altria Group AG (NYSE: ), Newmont Goldcorp Corp (NYSE: ), Bristol-Myers Squibb (NYSE: ), AstraZeneca PLC ADR (NASDAQ: ), Valero Energy (NYSE: ), Northrop Grumman Corporation (NYSE:), Mobileye Global Inc (NASDAQ:), Opera Ltd (NASDAQ:), STMicroelectronics NV ADR (NYSE:), Honeywell International Inc (NASDAQ:), AO Smith Corp (NYSE:) , Dow Inc (NYSE:), Hertz Global Holdings Inc (NASDAQ:), Keurig Dr Pepper Inc (NASDAQ:), Sanofi ADR (NASDAQ:), Union Pacific (NYSE:), Harley-Davidson Co. (NYSE:) , DTE Energy Inc. (NYSE: ), Lazard Ltd (NYSE: ), Uxin Ltd (NASDAQ: ).
After the close: Microsoft Corp (NASDAQ:), Alphabet Inc Class A (NASDAQ:), Intel Corp (NASDAQ:), Snap Inc (NYSE:), Roku Inc (NASDAQ:), Western Digital (NASDAQ:), T-Mobile US Inc (NASDAQ:), L3Harris Technologies Inc (NYSE:), KLA Corporation (NASDAQ:).
For all today’s financial reports, please visit Investing.comEarnings Calendar.
Economic data and events
20:30 Hong Kong time (08:30 AM ET)
22:00 Hong Kong time (10:00 a.m. Eastern Time)
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For more economic information, please visit Investing.comfinancial calendar.
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Compiler: Liu Chuan
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Tags: #U.S stock market opens major stock index futures dive Dow futures plummet points GDP shows ominous signs Author Investing .com
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