The Dow Jones Industrial Average continued its winning streak on April 9, 2024, trading higher for the sixth consecutive day. However, the S&P 500 dropped by 0.1% and the Nasdaq Composite pulled back by 0.3%.
Uber shares took a hit, falling by 9.1% after the company reported a net loss and weaker-than-expected bookings revenue. Additionally, Intel lost more than 2.8% after lowering its second-quarter revenue guidance.
Tesla also saw a decrease in its shares, dipping over 1.5% amid a probe into possible wire fraud related to its Autopilot systems. The tech sector as a whole is facing challenges with valuation as it enters earnings season with high expectations.
Despite these setbacks, the market is showing signs of a healthy correction, with strong fundamentals and economic resilience. Federal Reserve commentary indicates that interest rates are likely to remain unchanged until inflation reaches the 2% target.
Overall, investors are keeping a close eye on these developments as they navigate the ups and downs of the market. Stay tuned to Matzav Blog for more updates on the latest financial news and trends.
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