Here are the most important news investors need to start their trading day:
1. Recovery
Stocks rallied on Monday after a difficult week for markets. The Dow Jones Industrial Average increased by 0.67%. The S&P 500 increased by 0.87% and Nasdaq The composite rose 1.11%, both ending a six-day losing streak. US crude oil prices fell after Iran announced it would not escalate the conflict with Israel. Investors have been worried about higher oil prices contributing to inflation. According to Live market updates.
2. Big beat
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.
Rebecca Cook | Reuters
General motive gave 2024 guidance on Tuesday after the report big beat on the top and bottom lines in the first quarter. The company said truck sales at the automaker’s North American operations were largely responsible for the news. Revenue in the first 3 months of the year increased by 7.6% over the same period last year. Net income also increased 26% in the first quarter. GM shares rose about 3% in the premarket.
3. Losing streak
New Tesla electric vehicles parked outside a Tesla store on April 15, 2024 in San Mateo County, California.
Luu Quang Quan | China News Service | beautiful images
Tesla The stock has expanded loser to seven days on Monday. Shares fell 3.4%, hitting their lowest level since January 2023. The decline came as the electric vehicle maker slashed prices by up to $2,000 on its Model Y SUV and entry-level Model 3 sedan. Tesla also lowered the price of premium driver assistance systems by 1/3. Tesla will report first-quarter earnings after the bell on Tuesday. The company’s shares are down about 43% this year, second worst in the S&P 500.
4. Block
Pedestrians walk past a Coach store on August 10, 2023 in Chicago, Illinois.
Scott Olson | beautiful images
Federal Trade Commission on Monday sued to block the Coach parent Carpet acquired the company for $8.5 billion Capri Group. The currently pending deal would combine two big names in luxury retail and place six brands under a single company: Tapestry’s Coach, Kate Spade and Stuart Weitzman, and Capri’s Versace, Jimmy Choo and Michael Kors . The proposed transaction would help the brands compete with European luxury names including LVMH’s Louis Vuitton and Burberry. The combined Tapestry and Capri Holdings will have annual revenues of more than $12 billion and a presence in more than 75 countries.
5. Good income
Dr. Vasant Narasimhan, CEO of Novartis, speaks at the Healthy Returns conference in New York City on May 21, 2019.
Astrid Stawiarz | CNBC
Shares of the Swiss drugmaker Novartis increased about 5% in the premarket period following better-than-expected results income statement. Net revenue increased 11% in the first three months of 2024 and core operating income increased 22% over the same period. “Our performance across the board, across all key brands and growth geographies, allows us to enhance our guidance for all year 2024”.
— CNBC’s Brian Evans, Jesse Pound, Michael Wayland, Lora Kolodny, Melissa Repko and Karen Gilchrist contributed to this report.
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