A Quiet Tuesday But Earnings Continue

Group 1: Earnings Reports - Uber reported a miss in their earnings, surprising analysts who had expected a profit, leading to a 7% decline in premarket shares [2] - Reddit reported strong first quarter earnings, beating revenue expectations and showing a better-than-expected loss per share, resulting in a 14% increase in after-hours trading [2] - Lyft also reported earnings that beat revenue expectations but missed on earnings, with shares trading up by 6% in post-market [2] - Disney's earnings disappointed investors, causing a 9.5% drop in stock price, yet broad indices remained largely unaffected [2] - Shopify shares fell by 17% after a miss on gross margins [2] Group 2: Market Overview - The S&P 500 gained 0.13% while the Nasdaq Composite fell 0.10%, indicating little change in stocks after solid gains earlier in the week [1] - Earnings for the quarter are on pace to be up over 5%, with second quarter earnings expectations revised upward from 9% growth to just under 10% [5] - The market is currently in a breather phase, with expectations for economic data and earnings to pick up next week [5] Group 3: Economic Indicators - Bonds have been rallying, with yields on the 10-year note ending at 4.45%, influenced by last week's weaker-than-expected jobs report and hopes for interest rate cuts [3] - Upcoming Producer Price Index (PPI) and Consumer Price Index (CPI) reports are anticipated to shape expectations for Federal Reserve actions [3] Group 4: Trade Issues - The Biden Administration revoked licenses from Intel and Qualcomm, affecting their ability to sell semiconductors to Huawei, which could impact the tech sector [4] - Ongoing trade tensions with China are highlighted as a significant concern for market stability [4]