CNBC Daily Open: U.S. stocks drop and Treasury yields widen their inversion as the economy gives conflicting signals
Publishing timestamp: 2023-02-10 01:23:06
Summary
U.S. stocks closed lower Thursday, with the Nasdaq Composite dropping 1.02%. Disney CEO Bob Iger announced he will stay at the media giant for two years to focus on strengthening its streaming business, while Salesforce has been hit recently by slowing revenue growth and criticism that it paid too much for targets such as Slack. Yahoo said it will push out more than 20% of its workforce by the end of the year. Microsoft's artificial intelligence product demonstrations this week may have impressed investors more than Google's did, but analysts say that Google could still dominate AI eventually. Weekly jobless claims in the U.S. hit 196,000 for the week ending February 4, but the Treasury yield curve remains inverted, indicating investors are worried about market conditions in the near term.
Sentiment: MIXED
Tickers: META, DIS, GOOGL, CRM,
Keywords: inflation, meta platforms inc, walt disney co, world markets, entertainment, salesforce inc, united states, alphabet class a, markets, david loeb, business news, nelson peltz, media, bob iger, china, jobs, technology, economic events,