Stock Market Pre-Open Insights:
Stock markets are feeling optimistic this morning, largely due to the news of U.S.-China trade negotiations sailing ahead. While the Dow, S&P 500, and Nasdaq took a slight dip yesterday, futures are up by about 0.6%. Bitcoin is also surging by 2%, trading at around $97,000.
The Federal Reserve is expected to keep interest rates where they've been (4.25% to 4.5%) after their two-day meeting today. Investors will be eagerly listening to Fed Chair Jerome Powell's press conference for any hints on when the central bank might consider lowering those rates. Trump's push for an interest rate drop, coupled with his tariff policies, continues to swirl in the background.
Disney's (DIS) share price is jumping in the premarket, following the media and entertainment giant's better-than-expected fiscal second-quarter results. They've grown their subscriber ranks significantly, boosting earnings per share to $1.45 on revenue of $23.62 billion. This beat analyst predictions of $1.20 in earnings on $23.17 billion in revenue. Disney+ now has 126.0 million subscribers, surpassing expectations, and they've raised their full-year adjusted EPS outlook to $5.75.
Novo Nordisk's (NVO) U.S.-listed shares are up, despite the Danish pharmaceutical firm lowering its full-year outlook. Even though Novo Nordisk now predicts year-over-year sales growth of 13% to 21% and operating profit growth of 16% to 24%, that's a drop from their previous forecasts of 16% to 24% and 19% to 27%, respectively. Their first-quarter results showed mixed numbers, with earnings beating estimates but net sales missing the mark.
Uber Technologies' (UBER) stock is taking a tumble premarket, following a disappointing first-quarter performance. Gross bookings and revenue both fell short of estimates, with earnings coming in at $0.83 – short of the $0.49 predicted by analysts. Despite this, Uber's shares have already soared more than 40% this year.
Yesterday, Bitcoin's token saw a surge by 2%, trading at around $97,000 during trading. The Federal Reserve's indications from their meeting today might influence the future trading of ico tokens in the finance sector. Indications from the Fed might also provide watchers with hints on when the central bank might consider lowering interest rates, currently at 4.25% to 4.5%. As investors eagerly listen to Fed Chair Jerome Powell's press conference, they'll be keeping an eye on futures, which are currently up by about 0.6%. In the meantime, Disney's earnings report has delighted many investors, with Disney+ now having 126.0 million subscribers and Uber Technologies' shares taking a tumble due to a disappointing first-quarter performance. Novo Nordisk's share price is up, despite the Danish pharmaceutical firm lowering its full-year outlook.
