Amazon surged after beating earnings and revenue expectations, while Starbucks fell after missing estimates. Chipmaker AMD dropped on declining gaming revenue. Pinterest gained on earnings and revenue beats. Super Micro Computer declined after missing revenue estimates. Caesars Entertainment lost after worse-than-expected first-quarter results. Mondelez slipped despite better-than-expected results due to currency headwinds. Diamondback Energy beat earnings estimates but shares fell. Clorox dipped after missing revenue expectations.
Earnings reports from major banks have raised concerns about the economy. The Federal Reserve's interest rate path is uncertain, with varying probabilities of rate cuts. Experts predict that the market may enter a holding pattern if rates remain unchanged. Tech giants, notably Microsoft and Amazon, are expected to perform well due to their diverse operations. Interestingly, retail investors are showing an increased interest in individual stocks, with General Electric emerging as a popular choice due to its improved performance after separating its financial operations.
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