NEW YORK (Reuters) -For the first time in over a year, the U.S. stock market is in a correction. The benchmark stock index closed down more than 10% from its February 19 closing high, meeting the widely used definition of a correction. The S&P 500's slide follows a similar drop for the tech-heavy Nasdaq Composite index, which last week confirmed it was in a correction.
Beauty, cosmetics, and personal care retailer Ulta Beauty (NASDAQ:ULTA) reported Q4 CY2024 results topping the market’s revenue expectations, but sales fell by 1.9% year on year to $3.49 billion. On the other hand, the company’s full-year revenue guidance of $11.55 billion at the midpoint came in 1% below analysts’ estimates. Its GAAP profit of $8.46 per share was 18.4% above analysts’ consensus estimates.
The risk of government shutdown adds more worry for markets already grappling with Trump's tariff onslaught.
(Bloomberg) -- Investors flocked to US government bonds Thursday as ebbing expectations for American economic growth weighed on stocks.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at Risk of ClosureThe rally averted a third straight daily loss
Bedding and comfort retailer Purple (NASDAQ:PRPL) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 11.6% year on year to $129 million. On the other hand, next quarter’s revenue guidance of $104.5 million was less impressive, coming in 10.8% below analysts’ estimates. Its non-GAAP loss of $0.07 per share was 14% above analysts’ consensus estimates.
The U.S. stock market has just dropped 10% from its high set last month, hurt by worries about the economy and a global trade war. T he fall for the S&P 500 is steep enough that Wall Street has a name for it: a “correction.” Such drops have happened regularly for more than a century, and market pros often view them as potentially healthy wipeouts of overdone euphoria, which could send stock prices too high if unchecked.
US stocks slid Thursday and the S&P 500 closed in correction, down more than 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.
(Bloomberg) -- Tariff worries rattled Wall Street again Thursday, pushing the S&P 500 into a correction that left it at the lowest in six months.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at Risk of ClosureThe S&P 500 fell 1.4% on the day, b
Hayden Adams claimed to be one of the key actors behind the launch of Javier Milei’s memecoin in February.
Intel shares surged Thursday after the struggling chipmaker named Lip-Bu Tan its new CEO, raising hopes for a turnaround.
