Original source (on modern site) | Article images: [1]
Tue, Apr 30 20244:21 PM EDT A trader works on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images Stocks closed lower on Tuesday, ending the day and the month on a losing note. The S&P 500 pulled back 1.57% to close at 5,035.69, while the Nasdaq Composite fell 2.04% to 15,657.82. The Dow Jones Industrial Average slipped 570.17 points, or 1.49%, to finish the session at 37,815.92. — Brian Evans Tue, Apr 30 20243:25 PM EDT Bitcoin continued its month-long slide to close out April, falling 4% and at one point trading just below the $60,000 level. The flagship cryptocurrency is on pace to end the month down 15% and post its first negative month in the past eight. It would be its worst month since November 2022, when FTX collapsed. It's still up 43% for 2024. Bitcoin (BTC) over the past month Stocks whose performance is tied to the price of bitcoin tumbled with the cryptocurrency. Crypto exchange Coinbase fell 6%, while MicroStrategy lost 15%. The software company and self-described Bitcoin development company also reported a loss for the first quarter. In the mining sector, Marathon Digital dropped 10.5%, while Riot Platforms lost 8.5%. IREN and CleanSpark were each lower by 7%. For more on what's in store for bitcoin in the month ahead, read our investment outlook here. — Tanaya Macheel Tue, Apr 30 20243:07 PM EDT The Biden administration plans to take steps that could ultimately lead to a reclassification of cannabis, and a loosening of federal restrictions, several people familiar with the decision told NBC News. The news sparked a rally among cannabis stocks, many of which have suffered steep double-digit declines for at least the past three years, as federal legalization efforts languished. Canopy Growth shares over the past five years. Take Canopy Growth. The stock jumped more than 35% in trading Tuesday. Shares have more than doubled since the start of the year. However, the market cap has shrunk considerably in recent years, after declines of 78%, 74% and 65%, respectively in 2023, 2022 and 2021, according to FactSet. The stock of Cronos gained 12%, while Tilray popped nearly 29%. The Amplify Alternative Harvest ETF (MJ) rallied 18%. Tue, Apr 30 20242:50 PM EDT The Dow tracked for its worst month since 2022, hurt by Intel and other sold-off members. The blue-chip average has dropped around 4.5% in April. If that holds through Tuesday's close, it would mark the worst month for the 30-stock index since September 2022, when it tumbled nearly 9%. The Dow is also on pace to post the worst monthly performance of the three major indexes. The Dow, 1 month Intel led the average down this month, plummeting more than 30%. With that, the technology stock was poised to see its biggest monthly loss since June 2002, when shares dived more than 33%. IBM, Home Depot, Boeing and Salesforce also weighed down the index, with all four stocks sliding more than 10% in April. Less than one third of Dow members were tracking to finish the month with gains. 3M was the biggest outperformer with a jump of more than 6%. Chevron and American Express followed, advancing more than 3% each. — Alex Harring Tue, Apr 30 20242:30 PM EDT Two of the more speculative technology ETFs were down more sharply than the broader market on Tuesday. The ARK Innovation ETF (ARKK) and the Invesco Solar ETF (TAN) were down 2.9% and 2.8%, respectively, in afternoon trading. Both funds have heavy exposure to growth stocks have been sensitive to moves in interest rates. The flagship Ark Invest ETF was down nearly 3% on Tuesday afternoon. Meanwhile, the Utilities Select Sector SPDR Fund (XLU) was unchanged on the day. Taken together, these moves suggest that Tuesday's market actions is a risk-off move ahead of Wednesday's Federal Reserve policy update. — Jesse Pound Tue, Apr 30 20241:32 PM EDT These are some of the stocks making the biggest midday moves: See the full list here. — Alex Harring Tue, Apr 30 20241:21 PM EDT An employee moves pizza boxes before a delivery at a Domino's Pizza restaurant in Chantilly, Virginia. Andrew Harrer | Bloomberg | Getty Images During Tuesday's trading session, 16 stocks in the S&P 500 hit their new 52-week highs. These included: On the other hand, three stocks hit new 52-week lows: Warner Bros. Discovery, Bristol-Myers and VeriSign. — Lisa Kailai Han, Christopher Hayes Tue, Apr 30 202412:39 PM EDT Copper prices are down 2.38%, on pace for the largest daily decline since December 4, 2023 when prices fell -2.44%. If Copper ends the day down more than -2.44% it will be the worst day since Oct 2, 2023 when copper fell -2.57% Month to date, copper is up 13.9%, marking its best month since February 2021, when copper advanced 15.09%. Copper prices Tuesday — Hakyung Kim, Gina Francolla Tue, Apr 30 202410:16 AM EDT People shop at the Macy's store on Herald Square in New York City. Michael M. Santiago | Getty Images News | Getty Images Consumer confidence hit its lowest level since mid-2022 in March as fears grew over employment and inflation, the Conference Board reported Tuesday. The board's main index registered a reading of 97, below the downwardly revised 103.1 in March and missing the Dow Jones consensus estimate of 103.5. This was the lowest level for the index since July 2022, though board officials said their measure of current conditions is still at a fairly healthy level and the headline index has been in a "relatively narrow range" for more than two years. Still, there were concerns about where things are headed. Respondents answers reflected that "elevated price levels, especially for food and gas, dominated consumer's concerns, with politics and global conflicts as distant runners-up," said Dana M. Peterson, the board's chief economist. —Jeff Cox Tue, Apr 30 20249:38 AM EDT Tue, Apr 30 20249:13 AM EDT 3M company global headquarters. in Maplewood, Minnesota. Michael Siluk | Universal Images Group | Getty Images Check out the companies making headlines before the bell. For the full list, read here. — Pia Singh Tue, Apr 30 20248:47 AM EDT Total compensation costs for workers rose by more than expected in the first quarter, providing another sign that inflation pressures are not going away. The employment cost index increased 1.2% for the period, faster than the 0.9% in the fourth quarter of 2023 and higher than the Dow Jones estimate for 1%, the Labor Department reported Tuesday. The index is watched by Federal Reserve officials as a sign of underlying inflation. On a year over year basis, the index for civilian workers rose 4.2% after having increased 4.8% for the same period in 2023. —Jeff Cox Tue, Apr 30 20247:30 AM EDT Drugmaker Eli Lilly rallied nearly 7% Tuesday premarket following its better-than-expected quarterly results. The company also raised its full-year adjusted earnings guidance to $13.50 to $14.00 per share and revenue between $42.4 billion and $43.6 billion. Analysts surveyed by LSEG expected full-year adjusted earnings of $12.50 per share and sales of $41.44 billion. The results and guidance raise reflect weight loss treatment Zepbound's first full quarter on the U.S. market, as well as strong sales of its blockbuster diabetes drug Mounjaro. Eli Lilly shares — Hakyung Kim Tue, Apr 30 20247:29 AM EDT In this photo illustration, bottles of Coca Cola are displayed in San Anselmo, California. Justin Sullivan | Getty Images Coca-Cola ticked lower by 0.3% in Tuesday's premarket trading despite offering stronger-than-expected earnings. The soda maker earned 72 cents per share, excluding items, on revenue of $11.30 billion. Analysts polled by LSEG expected had forecasted just 70 cents per share and revenue at $11.01 billion. Coca-Cola also hiked its full-year guidance for organic revenue. — Alex Harring, Amelia Lucas Tue, Apr 30 20247:13 AM EDT Shares of fast food chain McDonald's were nearly 2% lower in premarket trading after the company missed first-quarter earnings estimates. McDonald's stock. McDonald's reported adjusted earnings per share of $2.70 on revenue of $6.17 billion, while analysts polled by LSEG forecast $2.72 and $6.16 billion, respectively. Worldwide sales inched up by just 1.9% in the quarter as consumers pulled back on spending, lower than the 2.1% consensus estimate collected by FactSet. The company also reported U.S. same-store sales growth of 2.5%, below an estimate that called for 2.6%. — Brian Evans Tue, Apr 30 20243:22 AM EDT Stoxx 600 Europe stocks were mixed on Tuesday, with the benchmark Stoxx 600 index opening slightly lower and trading 0.07% lower at 8:20 a.m. The U.K.'s FTSE 100 was up 0.38%, while France's CAC 40 was down by 0.1% and Germany's DAX was 0.1% lower. — Sophie Kiderlin Mon, Apr 29 20249:56 PM EDT A worker is producing electronic products at a workshop in Nanchong, Sichuan Province, China, on April 29, 2024. Costfoto | Nurphoto | Getty Images China's factory activity climbed faster than expected in April, with the official purchasing managers' index coming at 50.4 compared with the 50.3 expected in a Reuters poll. Factory activity expansion was lower than the 50.8 seen in March. Separately, the non-manufacturing PMI slowed to 51.2 from 53.0, with the composite PMI for April also falling to 51.7 from 52.7. — Lim Hui Jie Mon, Apr 29 20249:04 PM EDT South Korea's industrial production fell to its lowest level in 15 months in March, according to data released by the government. Industrial production in March fell 3.2% month over month on a seasonally adjusted basis, after rising 2.9% in February. The March reading also marked the sharpest fall in industrial production since December 2022, according to LSEG data. The reading fell short of a Reuters poll expectation of a 0.6% month-on-month increase. — Shreyashi Sanyal Mon, Apr 29 20248:03 PM EDT The volatility seen in the yen was due to an intervention by Japanese authorities, The Wall Street Journal reported late Monday. Citing people familiar with the matter, WSJ reported that Japan intervened to prop up the yen by selling U.S. dollars and buying up yen. The currency had weakened to a 34-year low of 160.03 against the greenback, before suddenly strengthening to around the 155 level. Japan's top currency diplomat Masato Kanda declined to comment on whether the finance ministry had intervened, adding that authorities were ready to deal with foreign exchange matters "24 hours," Reuters reported on Tuesday. — Lim Hui Jie Mon, Apr 29 20246:06 PM EDT A worker moves a wafer bank at NXP semiconductors computer chip fabrication plant in Nijmegen, Netherlands March 14, 2024. Piroschka Van De Wouw | Reuters Check out the companies making headlines in after hours trading. Read the full list here. — Sarah Min Mon, Apr 29 20246:04 PM EDT Stock futures opened little changed on Monday night. Dow Jones Industrial Average futures rose by 2 points, or 0.01%. S&P 500 futures were flat, while Nasdaq 100 futures climbed 0.04%. — Sarah MinStocks close lower, Dow notches worst month since September 2022
Bitcoin briefly dips under $60,000, slides to worst month since 2022
Biden administration working to ease marijuana restrictions, providing a jolt to cannabis stocks
Dow heads for worst month since 2022
Ark Innovation ETF, leading solar fund drop in risk-off trading
See the stocks making big midday moves
16 stocks in the S&P 500 hit new 52-week highs
Copper headed for worst day of the year
Consumer sentiment measure hits lowest level since July 2022
Stocks open lower
Stocks making the biggest moves premarket include Eli Lilly, 3M, McDonald's
Employment compensation measure increased more than expected in Q1
Eli Lilly shares jump after earnings beat
Coca-Cola slips despite earnings beat
McDonald's stock slides after earnings miss
Europe markets open mixed
Stock Chart IconStock chart iconChina's factory activity expands faster then expected in April
South Korea industrial production falls to a 15-month low
Japan reportedly intervened to support yen; top currency official declines comment
Stocks making the biggest moves after hours
Stock futures open little changed Monday night
![[1]](image.php?loc=PT&i=https://image.cnbcfm.com/api/v1/image/107407568-1714400359203-gettyimages-2150694525-ms2_5128_bvwafsem.jpeg?v=1714513468&w=1920&h=1080){kind=link}