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U.S. stocks were wobbling amid mixed earnings reports

Published Apr 21, 2023 10:04AM ET Updated Apr 21, 2023 10:47AM ET
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By Liz Moyer

Investing.com -- U.S. stocks were wobbling early on Friday as mixed earnings reports weighed on sentiment.

At 10:44 ET (14:44 GMT), the Dow Jones Industrial Average was down 55 points, or 0.2%, while the S&P 500 was down 0.3% and the NASDAQ Composite was down 0.4%.

Procter & Gamble Company (NYSE:PG) shares rose 3.4% after the consumer product giant raised its full-year outlook. Higher prices are boosting results. HCA Holdings Inc (NYSE:HCA) shares rose 4.8% to a new 52-week high after it also raised its 2023 forecast.

Officials from the Federal Reserve threw support behind another quarter of a percentage point increase in interest rates when it meets in early May. Most futures traders are betting on that hike, while also expecting the Fed to pause and perhaps cut rates later this year. 

The S&P global composite PMI was stronger than expected, at 53.5 versus expectations for 52.8. Both manufacturing activity and services activity were stronger than expected.

Stocks have wobbled all week amid mixed earnings reports. Treasury yields are falling after economic data showed an increase in new jobless claims

Oilfield services company Schlumberger NV (NYSE:SLB) fell 3.7% despite beating expectations for profit and revenue, though cash flow was lower than expected. Mining firm Freeport-McMoran Copper & Gold Inc (NYSE:FCX) fell 4.2% after a drop in first-quarter profit because of lower production.

Oil was rising.Crude Oil WTI Futures were up 0.2% to $77.53 a barrel, while Brent Oil Futures were up 0.2% to $81.22 a barrel. Gold Futures were down 1.4% to $1,990.

U.S. stocks were wobbling amid mixed earnings reports
 

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Comments (6)
jason xx
jason xx Apr 21, 2023 10:52AM ET
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Market participants are so cowardly its rediculous. They insist a recession has to happen and reject all evidence to the contrary. They can't except that they were lied too and conned out of their shares
First Last
First Last Apr 21, 2023 10:52AM ET
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Some here are only bullish when their party is in power.  Otherwise, they want to talk down the market to blame the other party.
jason xx
jason xx Apr 21, 2023 10:46AM ET
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FCX beat estimates handily. Who cares if profits sre down from this quarter last year. Thats when prices were skyrocketing because of Russian invasion
Prashant Kumar
Prashant Kumar Apr 21, 2023 10:43AM ET
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big banks stock see big rally in coming days. rate hike it's addition gift for them to make more money
Derick Lim
Derick Lim Apr 21, 2023 10:37AM ET
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The stocks will stop wobbling once analysts manipulative recycled rate pause / hike year end news with addition prediction IB analysts upgrading companies.based on fortune telling prediction instead of QR fundamental.......
Antonio Velardo
Antonio Velardo Apr 21, 2023 10:36AM ET
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Up up
Mitchel Pioneer
Mitchel Pioneer Apr 21, 2023 10:20AM ET
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10AM FRAUD predictable as the sunrise.  Criminally manipulated JOKE.
 
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