U.S. stocks experienced a slight increase on Tuesday as traders awaited further guidance on the potential timing of the Federal Reserve’s rate cuts, while also focusing on the latest earnings reports.
Disney saw its shares decline by more than 4% despite surpassing quarterly earnings expectations and reporting revenue that met expectations. On the other hand, shares of defense-technology firm Palantir plummeted by approximately 11.5% following weaker-than-expected guidance.
Investors carried over bullish market sentiment from Friday to Monday, fueled by the latest nonfarm payrolls data which showed below-expectation job growth in April and a slight uptick in unemployment. This data eased concerns about an overheating economy and bolstered optimism regarding potential rate cuts by the Federal Reserve.
Source (CNBC)
