- Yahoo Finance Video
FedEx earnings, Cybertruck recall: Market Domination Overtime
On today's episode of Market Domination Overtime, hosts Julie Hyman and Josh Lipton analyze the market close and some of the biggest stories of the trading day. The Dow Jones Industrial Average (^DJI) reversed course from its Monday gains, closing Tuesday's session lower by over 290 points. Meanwhile, the Nasdaq Composite (^IXIC) soared by 220 points. Federal Reserve leaders spoke on Tuesday, outlining their thoughts on the current state of the economy. Pence Capital Management chief investment officer Dryden Pence signals the potential for one interest rate cut at the end of the year, explaining, "[The Fed] would like to pivot, but I think it continues to move to the right because you have this tremendous robustness of the American economy. I think what people have forgotten is we've added so many workers; we've added 6.1 million new people working in this country since the height of pre-pandemic. When you think about that, that's like adding the entire labor force of Illinois, and that's like adding the entire GDP of France, which is the seventh largest country in the world. And so we've grown France in the last four years." FedEx (FDX) reported fourth quarter earnings that topped Wall Street expectations. The shipping giant reported adjusted earnings of $5.41 per share compared to the estimated $5.34. Pence points to a reacceleration in e-commerce and improved margins as tailwinds for the company. On the autos front, shares of Rivian (RIVN) jumped after Volkswagen (VWAGY, VOW.DE) announced it would invest up to $5 billion as part of a joint venture. Meanwhile, Tesla (TSLA) is under pressure after announcing its fourth recall of the Cybertruck. Finally, Julie Hyman and Josh Lipton break down what to watch on Wednesday, June 26, from Nvidia's (NVDA) shareholder meeting to Chipotle's (CMG) 50-for-1 stock split. This post was written by Melanie Riehl
- Yahoo Finance Video
Nvidia meeting, Chipotle stock split, housing: What to Watch
Nvidia's (NVDA) shareholder meeting will take place on Wednesday, June 26 at 12 P.M. EST. The chip stock broke a three-day losing streak in Tuesday's session. Chipotle's (CMG) 50-for-1 stock split will go into effect at tomorrow's market open and begin trading at the adjusted price. The stock has gained over 43% year-to-date. A slew of earnings reports are on deck for tomorrow, including: Micron Technology (MU), General Mills (GIS), Levi Strauss (LEVI), and BlackBerry (BB). Economic data in the form of new home sales for May will be released, with estimates at 640,000, slightly below April's 643,000. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
- Barrons.com
Chipotle Shares Will Trade for a Lot Less on Wednesday After Stock Split
Chipotle Mexican Grill shares rose 2.8% on Tuesday as the burrito chain prepares for the first stock split since its debut on the New York Stock Exchange nearly two decades ago. The 50-for-one split will increase the number of shares outstanding by that factor, but the share price will be adjusted to one-50th of its pre-split value as of Tuesday’s close, at $3,283.04. Chipotle’s shares will trade at $65.66 on a post-split basis when the market opens on Wednesday.
