May 3, 2022

May 3, 2022

U.S. stocks closed up today after a whipsaw session in markets a day earlier, as investors appraised the next moves by the Federal Reserve and a fresh batch of quarterly earnings results.

 

Dow Jones finished +67 at 33,128

S&P 500 finished +20 at 4,175

NASDAQ finished +28 at 12,563

 

The 10 Year Treasury closed down 1 basis point yielding 2.98%

Oil prices closed down $2.41 ending at $102.76 a barrel.

Gold prices closed up $3.50 ending at $1,867 an ounce.

 

In the days’ stock news:

 

  • Expedia closed down 14% after the company reported a mixed earnings report that led at least eight Wall Street analysts to cut their price targets on the stock. Expedia posted a loss of 47 cents per share for its most recent quarter, although that was narrower than the loss expected by analysts, by 15 cents per share, according to Refinitiv.
  • Clorox closed up 3% after the maker of cleaning products surpassed earnings expectations. Clorox earned $1.31 per share on revenues of $1.81 billion in its most recent quarter. Analysts surveyed by Refinitiv forecast 97 cents earnings per share on revenues of $1.79 billion. The firm also lowered its full-year gross margin estimates.

 

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