Stocks

Stocks slide as April selling continues

U.S. stocks opened lower as investors weighed a fresh round of corporate earnings and forthcoming interest rate hikes. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33688.54 -360.92 -1.06%
SP500 S&P 500 4228.58 -67.54 -1.57%
I:COMP NASDAQ COMPOSITE INDEX 12659.180149 -345.67 -2.66%

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Inflation remains a key concern for investors, who are worried about whether the Fed will be able to hike rates enough to quell inflation but not so much as to cause a recession.

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In earnings news, Pepsi joined Coca-Cola in reporting better than expected results. The soda and snack maker also lifted its revenue outlook for the year. 

Ticker Security Last Change Change %
PEP PEPSICO INC. 173.74 +1.59 +0.92%
KO THE COCA-COLA CO. 65.94 +0.69 +1.06%

General Electric shares fell after revenue fell short of the company’s expectations tied to supply-chain issues and Russia-Ukraine headwinds. 

Ticker Security Last Change Change %
GE GENERAL ELECTRIC CO. 89.88 +0.81 +0.91%

In the afternoon the focus will turn to tech titans Microsoft and Alphabet. For Microsoft, the Dow member is expected to say earnings-per-share rose 12% from a year ago to $2.19, on a 17.6% spike in revenue to $49.05 billion. 

Ticker Security Last Change Change %
MSFT MICROSOFT CORP. 280.72 +6.69 +2.44%
GOOGL ALPHABET INC. 2,461.48 +68.77 +2.87%

Twitter remains in focus as investors handicap what the new, privately held company will look like under the direction of Elon Musk. 

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Ticker Security Last Change Change %
TWTR TWITTER INC. 51.70 +2.77 +5.66%
US stocks

U.S. stocks were choppy early Tuesday morning as first-quarter earnings season kicks into high gear.  (Courtney Crow/New York Stock Exchange via AP)

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Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 74.65 -1.66 -2.18%
BNO UNITED STS BRENT OIL FD LP UNIT 29.43 -0.81 -2.68%

In commodities, oil rebounded, with U.S. crude rising to the $99.14 per barrel level, while Brent, the global benchmark, hit $102. 

In cryptocurrencies, Bitcoin hovered around the $40,000 level. 

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The Associated Press contributed to this report. 

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