CNBC Daily Open: The U.S. economy gives conflicting signals
Publishing timestamp: 2023-02-10 00:35:51
Summary
U.S. stocks closed lower Thursday, with the Nasdaq Composite dropping 1.02%. Disney CEO Bob Iger announced he will stay for two years to focus on strengthening its streaming business, while Salesforce has been hit 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 AI 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 Feb. 4, which is more than what analysts expected and runs contrary to January's jobs data. The Treasury yield curve remains inverted, meaning the yield on 2-year Treasury exceeds that of 10-year Treasury, and on Thursday, the inversion widened.
Sentiment: MIXED
Tickers: META, DIS, GOOGL, CRM,
Keywords: economic events, entertainment, world markets, walt disney co, meta platforms inc, salesforce inc, david loeb, markets, alphabet class a, business news, nelson peltz, media, bob iger, jobs, technology, united states,
Source: https://www.cnbc.com/2023/02/10/stock-markets-the-us-economy-gives-conflicting-signals.html