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Thursday Earnings Reports Could Jolt a Flat Market

The stock market closed almost flat on Wednesday as trading finished, with the Dow Jones down 0.11% after ending on a high note the previous day.

Understanding the Stock Market

The S&P 500 is still up, but just by 0.02%, lagging behind a 0.1% increase from the Nasdaq Composite. These are much lower numbers than what we saw the previous day, but they show that the market did not move as much as expected in an upward direction off the back of earnings reports on Wednesday.

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Some of those reports were not as good as expected, bringing down the stock price for Humana and a few other major companies in the aftermath. A few medical stocks dropped heavily on Wednesday, including Avenue Therapeutics (down 29%), Vaxxinity (down 33%), and GlucoTrack (down 37%), all on the Nasdaq Composite.

Earnings reports rolled in for Visa, Ford, Chipotle, and many others as the market reacted quickly to sales figures and quarterly forecasts. Visa stock gained 2% after its earnings report, and the company showcased excellent sales records and a healthy forecast.

Ford saw better than expected revenue for the first quarter and enjoyed a 2.28% stock price increase as a result.

Chipotle rose only slightly on the back of its earnings report, gaining just 0.4% after releasing positive revenue figures. The company has enjoyed increased sales following price cuts on some of its items.

What to Look Forward to For Thursday

As trading begins for Thursday, there are a number of high profile earnings reports to pay attention to. Royal Caribbean Cruises and Coca-Cola European are both scheduled to release sales reports later on today. Major tech company reports are coming in as well, including Microsoft, Intel, Comcast, and Alphabet.

As tech stocks have moved the market in a big way recently, we expect these companies to be movers and shakers for this week and to shift the market considerably as their reports come out.

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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