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07/02/24 Briefing


US stocks ended Tuesday's session in the green as the Dow Jones Industrial Average (^DJI) led gains, rising about 0.3%.

The S&P 500 (^GSPC) followed suit, climbing roughly 0.2% while the tech-heavy Nasdaq Composite (^IXIC) erased earlier session losses heading into the close to finish in green figures.

The moves come as investors digested comments from a handful of Fed officials on the possibility of interest rate cuts, along with a fresh batch of quarterly results.

In earnings, Ford (F) shares climbed above 6% in after-hours trading after the car maker provided 2024 adjusted Ebit guidance between $10 billion to $12 billion, above Wall Street estimates. Adjusted earnings and revenue also beat expectations.

But it wasn't so great for Snap (SNAP). Shares cratered 30% in after-hours trading after the company missed revenue estimates and guided to an adjusted EBITDA loss between $55 million to $95 million, which was wider than expected.

Earlier in the day, Spotify (SPOT) shares jumped after the music streamer's strong guidance, while Eli Lilly's (LLY) stock popped after the company's 2024 profit forecast topped estimates.

Shares of regional bank New York Community Bank (NYCB) fell more than 22% as investor fears over the health of the commercial real estate lender continue to roil the sector.

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