Stocks Fall as Negative Earnings Guidance Ramp Up

The Dow and Nasdaq gave back triple digits today

Deputy Editor
Feb 8, 2023 at 4:31 PM
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Wall Street took a step back Wednesday, as investors questioned 2023's profit outlook. In the first quarter of the year, 42 firms listed on the S&P 500 Index have provided negative guidance, while eight have gone positive -- a higher-than-normal share of negative expectations based on the historical average. In response, the Dow and Nasdaq both shed triple digits, while the S&P 500 also settled in the red.

Continue reading for more on today's market, including:

  • Retail stock's options pop after earnings.
  • Chipotle's quarterly report was worse than expected.
  • Plus, analyzing the market climate; Uber's earnings report; and TRIP's double upgrade.

closing summary feb8

nyse nasdaq feb8

5 Things to Know Today 

  1. Here are the biggest economic points from U.S. President Joe Biden's 2023 State of the Union address. (CNBC)
  2. Microsoft neared the $2 trillion market cap level once again, as excitement builds regarding the company's OpenAI technology usage. (MarketWatch
  3. Read this to understand the strange market climate.
  4. Uber's impressive quarterly performance.
  5. Travel stock earns double upgrade.

Earnings Feb8


Oil, Gold Log Third-Straight Win

Oil prices closed up shop with a third-straight win, as investors continued to bet on higher energy demand. As a result, March-dated crude added $1.33, or 1.7%, to settle at $78.47 per barrel.

Gold prices moved higher for the third-straight session, too, as traders continued to ponder Federal Reserve Chair Jerome Powell's recent remarks. April-dated gold tacked on $5.90, or 0.3%, to settle at $1,890.70 per ounce.



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