Dow Jones drops, Nvidia can’t save Nasdaq | Wilnesh News

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U.S. Treasury yields weigh on Wall Street
this S&P 500 Index Ended a three-day winning streak As Treasury bond yields rise. although NvidiaShares have continued to rise since last week’s earnings report, and the tech giant can’t stop it Nasdaq Index from falling. this Dow Jones Industrial Average Insurance companies also fell 400 points UnitedHealth resulting in losses. 10-Year Treasury Bond Yield Ministry of Finance Treasuries rose for a second straight day following a lackluster government bond auction on Tuesday. Rising yields would dampen consumer spending and make Treasury bonds and money market funds more attractive than stocks. oil price Also slipped.

Salesforce plunges
shares sales force Dropped more than 17% Expanding trade after cloud software company Reports weaker-than-expected revenue It also issued profit and revenue guidance for the quarter that fell short of analysts’ expectations.

Peltz sells Disney shares
Activist investor Nelson Peltz sold all his shares exist disneyAccording to a person familiar with the matter. In early April, Peltz loses proxy fight Disney elected himself and former Disney CFO Jay Rasulo to the company’s board of directors. Peltz has long raised questions about Disney’s governance, particularly the company’s streaming strategy and Chief Executive Bob Iger’s failed succession plan.

Increase shale oil production
ConocoPhillips Agree to purchase marathon oil in a All-stock deal valued at $17.1 billion. The acquisition will add 2 billion barrels of resources to ConocoPhillips’ portfolio, expanding the company’s presence in shale fields in Texas, New Mexico and North Dakota. ConocoPhillips CEO Ryan Lance said the deal will be immediately accretive to ConocoPhillips’ earnings, cash flow and shareholder returns upon closing in the fourth quarter.

US sales strategy backfires
shares American airlines The airline’s shares fell more than 13% after Chief Executive Robert Isom said the airline would cut capacity in the second half of the year. A day earlier, the airline parted ways with its chief commercial officer Vasu Raja. Cuts revenue and profit forecasts. Raja has led a plan to drive direct bookings at the airline to replace third-party websites and travel agencies, a strategy that includes cutting the airline’s sales arm. Raja will leave the company next month.

(PRO) Summer Trade
The Dow Jones, S&P 500 and Nasdaq all hit record highs in May, but there are doubts that momentum can continue into June to August. Brian Evans, CNBC Explore historical data and shares expectations for the market and which industries typically perform best.

The world can be a confusing place at times. You might have thought we were in the midst of an energy transition, but environmental nirvana has been disrupted by billion-dollar shale oil deals. ConocoPhillips will buy marathon oil Enverus mergers and acquisitions analyst Andrew Dittmar said the $17 billion deal would expand its portfolio and push its market value beyond BP.

No amount of federal aid for the energy transition through Biden’s $369 billion Inflation Reduction Act and Infrastructure Investment and Jobs Act will immediately end our dependence on oil.

Toyota has been hesitant to launch all-electric vehicles, launching a New hybrid engine range On Tuesday, biofuels could be used to meet stricter emissions standards. The Japanese brand isn’t alone in embracing hybrids as electric vehicle sales stall due to range anxiety and insufficient charging infrastructure.

Meanwhile, Chinese automakers BYD launches hybrid engine With a full load of batteries and gasoline, it has a range of 2,100 kilometers (1,300 miles).

The ConocoPhillips deal failed to lift markets, which are facing rising pressure on Treasury yields after hitting record highs. With earnings season mostly behind us, the focus is back on the Fed, the economy and inflation.

Atlas Merchant Capital CEO Bob Diamond told “Squawk on the Street” Fed ‘wants to see some softening in economy’ Before they cut rates. I mean, 25 basis points doesn’t matter in the scheme of things. For signaling reasons, maybe 25 (points). I don’t think the Fed, the Federal Open Market Committee, will take the risk of exacerbating inflation.

While the market is poised to end the month higher, Wolfe Research chief investment strategist Chris Senyek expects trading volume to increase significantly.The whole summer is roughHe recommends sticking to large-cap technology stocks.

“If we are right and trading becomes more volatile, our sense is that investors will likely stick with what has worked so far this year,” Senek wrote. “In other words, our sense is, ‘ Mag 7’, Secular Growers and Momentum stocks will outperform over the summer.”

— CNBC’s Alex Harring, Pia Singh, Spencer Kimball, Sara Salinas, Scott Wapner, Jordan Novet and Leslie Josephs contributed to this report.