US stocks slipped early in the session as investors digested a new batch of corporate earnings.
The Nasdaq Composite accelerated declines by more than 1%, led by Tesla and AMD.
|I: COMP||INDEX COMPOSITE NASDAQ||13713.851307||-181,27||-1,30%|
|AMD||ADVANCED MICRO DEVICES, INC.||77,89||-0,66||-0,84%|
While the Dow Jones Industrial Average and S&P 500 also fell 0.25% and 0.53%, respectively.
|IS: DJI||MEDIUM DOW JONES||34001,11||-112,12||-0,33%|
On earnings, Pfizer and CVS boosted the financial outlook as demand for COVID-19 related items fueled earnings and actions to the upside.
“We delivered strong first quarter results and improved our outlook for the year,” said Karen S. Lynch, President and CEO of CVS Health. “We continue to implement our strategy while simultaneously managing a pandemic, helping the country on the road to recovery.
BIDEN TALKS ABOUT TAXES ON AMERICANS WINNING LESS THAN $ 400,000
Moderna is also at the center of concerns after announcing plans to strengthen its manufacturing facility in Massachusetts. “Our manufacturing facility has been at the heart of our long-term strategy and has enabled us to provide the scale and flexibility to support the development of our mRNA drugs and vaccines, including our COVID-19 vaccine” , said CEO Stéphane Bancel in a press release.
|CVS||CVS HEALTH CORP.||79,39||+1,74||+ 2,24%|
Marathon Oil shares also fell after the company announced it had reduced its debt by $ 500 million.
|MRO||MARATHON OIL||11,19||+0.04||+ 0,31%|
After the close, investors will get results from Lyft, Xilinx and Zillow to name a few.
|WITH||GROUPE ZILLOW INC||120,38||-5,33||-4,24%|
In commodities, oil continued its ascent, touching the level of $ 65 per barrel, while gold was slightly lower at $ 1,782 per ounce.