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U.S. stocks are falling after lackluster reports from Microsoft, Boeing

Stock Markets Jan 25, 2023 10:42AM ET
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By Liz Moyer

Investing.com -- U.S. stocks are falling after lackluster results from Microsoft and Boeing stoked fears about a recession.

At 10:40 ET (15:40 GMT), the Dow Jones Industrial Average was down 438 points or 1.3%, while the S&P 500 was down 1.6% and the NASDAQ Composite was down 2.2%.

Microsoft Corporation (NASDAQ:MSFT) shares fell 3.2% after warning about slowing revenue in its cloud services business. That also weighed on shares of other cloud providers including Amazon.com Inc (NASDAQ:AMZN), which was down 3.9%.

Boeing Co (NYSE:BA) stock was also falling 3% after a surprise fourth-quarter loss attributed mostly to production delays with its 777-9. The aviation giant is trying to avoid a repeat of the 737 MAX certification issue.

Wednesday’s growth stock weakness is in contrast to earlier this month, when the sector enjoyed a rally fueled by hopes that the Federal Reserve would ease back on its aggressive interest rate hikes.

The market is expecting the Fed to raise rates by a quarter of a percentage point when it meets next week. 

Thursday will bring the latest report on initial jobless claims for the previous week. Analysts are expecting 205,000, which would be more than the previous week but still pointing to a tight labor market. A reading on fourth quarter gross domestic product is also due out in the morning on Thursday, with analysts forecasting a rise of 2.6% from the third quarter.

Oil was mixed. Crude Oil WTI Futures was up 0.3% at $80.35 a barrel, while Brent Oil Futures crude was flat at $86.14 a barrel. Gold Futures fell 0.3% to $1,929.

U.S. stocks are falling after lackluster reports from Microsoft, Boeing
 

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Comments (10)
Oleh Feshchenko
Oleh Feshchenko Jan 25, 2023 1:12PM ET
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Very interesting new. Thanks
Oleh Feshchenko
Oleh Feshchenko Jan 25, 2023 1:12PM ET
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news*
Leonardo Araujo
Leonardo Araujo Jan 25, 2023 12:06PM ET
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People like to make comments complaining here. If you don't believe or thrust the market, simply stay away. Stop crying
soho electronics
soho electronics Jan 25, 2023 11:51AM ET
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yet we will end In the green cause indicies are always fake pumped
Leonardo Araujo
Leonardo Araujo Jan 25, 2023 11:51AM ET
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well, then buy It . simple. Pra stop to embarass yourself .
Kareem Momtaz
Kareem Momtaz Jan 25, 2023 11:43AM ET
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haha
Shamo Nestor
Shamo Nestor Jan 25, 2023 11:26AM ET
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Stock market becomes a scam
Stan Smith
Stan Smith Jan 25, 2023 11:08AM ET
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This is why stocks were pumped up yesterday to offset today's poor earnings reports. Same old when pending bad news. This sort of activity should be investigated..as if?  lol
Mitchel Pioneer
Mitchel Pioneer Jan 25, 2023 11:04AM ET
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Can't have a day in the laughingstock of the investing world without some intraday magic, now can we?  Criminally manipulated JOKE.
Maximus Maximus
Maximus Maximus Jan 25, 2023 11:04AM ET
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polly wants a cracker...
Abolish The Fed
Abolish The Fed Jan 25, 2023 10:41AM ET
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401Ks about to be down 70%
cedrik marchand
cedrik marchand Jan 25, 2023 10:14AM ET
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surrrrreeee
William Smith
William Smith Jan 25, 2023 10:10AM ET
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Profits dropping rapidly, guidance lowered, layoffs mounting, oil going higher and inflation still at 7%. Severe recession here we come. No stopping it now.
Gabor Istvan Nagy
Gabor Istvan Nagy Jan 25, 2023 10:10AM ET
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What do you mean by severe recession?
First Last
First Last Jan 25, 2023 10:10AM ET
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MSFT profits higher than expected
 
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