There was little movement in the market through todays trading session, but most of the positive movement came from investors optimistically hoping for rate cuts coming later in the year. Let’s take a look at how our indexes performed:
The Dow Jones Industrial Average saw a 0.1% rise
The S&P500 also rose 0.1% for its 4th green session in a row
The Nasdaq Composite lost around 0.1%
Minneapolis Fed chief Neel Kashkari announce that the Federal Reserve would keep rates steady for an extended period of time. On the earnings front took center stage and fell flat on its face opening up with a 9% to kick off its market day. Despite the company beating Wall St. estimates in its direct-to-consumer streaming business finally turned a profit. However the company expects weaker results in that segment for their current quarter projections.
saw a 16% rise after rumors of a private equity firm eyeing the fitness company for a buyout. The company has been on the struggle bike trying to break a streak of losses, leadership changes and rounds of layoffs that have not improved things. The company has had talks with at least on ePE firm as it considers going private but unclear what the firms interest is, Peloton could remain a public company.
