Welcome to the Extreme Investor Network, your ultimate source for all things finance. Today, we’re diving into the latest news from the stock market, highlighting key trends and developments that every investor needs to know.
The tech sector took a hit in US stocks on Thursday, with Meta’s revenue forecast causing a stir among investors. Meta’s shares tumbled nearly 15% as concerns grew over the company’s high spending on AI infrastructure investments. This news dragged down tech stocks more broadly, leading to a decline in the Nasdaq Composite, the S&P 500, and the Dow Jones Industrial Average.
Additionally, US GDP growth for the first quarter fell short of expectations, coming in at a 1.6% annualized pace. This weaker-than-expected reading raised questions about the health of the US economy in light of persistently high interest rates. Treasury yields rose after the GDP print, hitting a high for the year.
Looking ahead, investors will be closely watching the March reading of the Personal Consumption Expenditures index, the Fed’s favored inflation gauge. This data release will provide further insights into the state of the US economy and the potential impact on monetary policy decisions.
In other news, Chipotle (CMG) continues to impress with its strong performance, raising prices and introducing new menu items with positive customer reception. The company’s growth story remains compelling, as reflected in its stock performance. For more insights on Chipotle, don’t miss our exclusive interview with Chipotle CFO Jack Hartung on Yahoo Finance Live.
Lastly, the trucking and railroad industries have faced challenges this earnings season, with concerns about economic slowdown and pricing pressures. These sectors are often viewed as economic bellwethers, providing valuable insights into broader market trends. Stay tuned for updates on these key industry developments.
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