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Dow, stocks, GDP | Fox Business

CFRA Research senior fairness analyst Angelo Zino reacts to Meta’s Q1 earnings report, the ‘Magnificent 7’ and shares his expectations for the general earnings interval.

Stock traders kicked into promoting mode after the U.S. economic system posted subpar progress within the first quarter.

The Dow Jones Industrial Average fell by triple digits, with the S&P 500 and tech-heavy Nasdaq Composite additionally seeing sharp pullbacks in early buying and selling.

Ticker	Security	Last	Change	Change %
IBM	INTERNATIONAL BUSINESS MACHINES CORP.	167.45	-16.56	-9.00%
CAT	CATERPILLAR INC.	332.66	-30.82	-8.48%
MSFT	MICROSOFT CORP.	391.96	-17.10	-4.18%
MRK	MERCK & CO. INC.	131.50	+4.49	+3.54%
KO	THE COCA-COLA CO.	62.20	+0.65	+1.05%
AAPL	APPLE INC.	169.30	+0.28	+0.17%

IBM, Caterpillar and Microsoft, which reviews earnings after the shut of buying and selling, paced the Dow’s steep drop. While Merck, Coca-Cola and Apple rose. Google dad or mum Alphabet and Intel can even report outcomes later at the moment.

Mark Zuckerberg’s Meta sank over 14% after weaker-than-expected income coupled with rising spending on AI which may pushes bills close to $100 billion, the corporate disclosed on Wednesday.

Ticker	Security	Last	Change	Change %
META	META PLATFORMS INC.	427.09	-66.41	-13.46%

The Dow’s drop pushes it additional away from its document shut of 39,807 reached in late March 2024.

Dow Jones Industrial Average

Gross domestic product for 2024, up to now, rose by 1.6% in line with the Commerce Department, falling wanting the two.4% anticipated by economists. Although that is the seventh straight quarter of progress, it trails the three.4% fee for the fourth-quarter of 2023.

Gains in shopper spending have been muted by “decreases in motor vehicles and parts as well as gasoline and other energy goods”, the Commerce Department detailed.

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After the closing bell, one other tranche of tech earnings shall be reported from

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