Stock Market Today: Trump Media Shares Up, Airbnb Down
U.S. futures were down Thursday, suggesting that major indexes would open lower on a day of more earnings reports and economic data releases.
The downturn came after the Dow Jones Industrial Average again closed higher on Wednesday for the sixth consecutive day, its longest winning streak of the year.
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Shares in Trump Media & Technology Group were higher in pre-market trading Thursday as a rollercoaster week for the Truth Social parent continues alongside the third week of former President Donald Trump‘s “hush money” trial in New York.
Shares in homestay platform Airbnb were down more than nine percent pre-market despite posting its most profitable quarter ever after market close Wednesday, with a net income of $264 million.
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Yet the firm also forecast weaker-than-expected results for the next quarter.
“We’d like to deliver higher growth than stable growth, but our outlook obviously reflects the trends that we have seen quarter-to-date,” said CFO Ellie Mertz.
Japanese carmaker Honda is also predicted to release its first-quarter financial statement Thursday.
The auto company announced on Thursday it had opened a new research and development facility in Bengaluru, India to accelerate electrification in the South-Asian country.
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Honda aims to reach carbon neutrality in all its products and corporate activities by 2050, and by 2040 for its motorcycle products, which includes the popular Super Cub model.
Shares in telecoms multinational Telefónica were up around a quarter of a percent on Thursday, after the company announced strong earnings before market opened.
The report disclosed a net profit of 532 million euros ($571 million), which was higher than expected.
Warner Bros. Discovery shares were down more than four percent ahead of the company announcing its quarterly earnings before markets open.
Warner and Disney are set to collaborate to offer a package bundle of their streaming services. The Wall Street Journal reported on Thursday that both ad-supported and ad-free versions of the deal will be available.
Warner Music Group is also scheduled to release earnings later today.
Canadian energy firm Enbridge and Soho House, the chain of private members clubs, are some companies to watch tomorrow to round off the week.
Investors will also be looking at the weekly jobless-claims numbers, released Thursday morning. This economic indicator provides insights into the U.S. labor market by measuring the number of individuals who have filed for unemployment benefits for the first time.
In London Thursday, the Bank of England followed the Federal Reserve’s lead and held interest rates at 5.25 percent, with the central bank’s governor saying it needed to “see more evidence” of falling inflation before making a rate cut.
Sweden’s central bank cut its interest rates on Wednesday.
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