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Stock Market Today: Dow Jones, S&P 500 Climbs; Meta Beat Expectations With Solid Earnings

Markets are up today after more tech giants report their earnings this week.
The post Stock Market Today: Dow Jones, S&P 500 Climbs; Meta Beat Expectations…

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Stock Market Today Mid-Morning Updates

On Thursday, the Dow Jones Industrial Average is down by over 80 points as investors tech giants continue to report their earnings. This comes despite aggression from Russia as it continues its invasion of Ukraine. President Biden and his administration have grown increasingly bold in its support for Ukraine and is scheduled to update the American public on the current state of the war today. Russia has also decided to cut off gas shipments to Poland and Bulgaria, both NATO members.

Twitter (NYSE: TWTR) for instance, reported a bump in users. However, it misses revenue estimates, reporting $1.2 billion for the quarter, an increase of 16% year-over-year. Shares of Qualcomm (NASDAQ: QCOM) were also up today after strong earnings. It posted an adjusted earnings per share of $3.21 with a revenue of $11.16 billion. ServiceNow (NYSE: NOW) is also up by over 8% today after the company reported an earnings per share of $1.73 and a revenue of $1.72 billion.

Among the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) are up by 2.03% today while Microsoft (NASDAQ: MSFT) is also up by 0.15%. Meanwhile, Disney (NYSE: DIS) and Nike (NYSE: NKE) are trading mixed on Thursday. Among the Dow financial leaders, Visa (NYSE: V) is up by 2.96% while JPMorgan Chase (NYSE: JPM) is also up by 0.41%.

Shares of EV leader Tesla (NASDAQ: TSLA) are down by 5.72% on Thursday. Rival EV companies like Rivian (NASDAQ: RIVN) are also down by 1.70%. Lucid Group (NASDAQ: LCID) is down by 1.55% today. Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) are trading lower today. 

Dow Jones Today: U.S. Treasury Yields Rose After U.S. Economy Contracted By 1.4%

Following the stock market opening on Thursday, the S&P 500, Dow, and Nasdaq are trading higher at 0.63%, 0.24%, and 0.57%. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is up by 0.91% while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also up by 0.60%. 

The benchmark 10-year U.S. Treasury yield rose to 2.88% today after the government reported that the U.S. economy has contracted by 1.4% in the first quarter. This was more than what economists were expecting. Gross domestic product unexpectedly declined at a 1.4% annualized pace, marking an abrupt reversal for an economy coming off its best performance since 1984.

Shares of McDonald’s (NYSE: MCD) were also up today after reporting its first-quarter financials today. Both earnings and revenue topped Wall Street’s estimates. The company says that higher prices in the U.S. and strong international sales growth have contributed to this strong quarter. Shares of Caterpillar (NYSE: CAT), however, were down by over 4% today despite beating earnings and revenue estimates.

[Read More] Top Stock Market News For Today April 28, 2022 

Meta Stock Surges After Social Media Titan Tops Earnings Estimates Amidst Turnaround Quarter

Among the top gainers in the stock market today would be Meta Platforms (NASDAQ: FB). Notably, FB stock is now looking at gains of over 12% at today’s market open. This follows its first fiscal quarter financial release posted after yesterday’s closing bell. For starters, Meta is boasting earnings per share of $2.72. This would be well above Wall Street’s estimates of $2.56. However, the company’s total revenue for the quarter is in at $27.91 billion, short of consensus forecasts of $28.2 billion. Even so, the current upswing in its earnings among other key factors seems to be reeling investors back in.

For the most part, Meta continues to gain momentum from its somewhat disappointing fourth fiscal quarter. In which, it saw daily active users (DAUs) declined for the first time to 1.93 billion. The company’s latest DAUs of 1.96 billion is also above consensus expectations of 1.95 billion. Moreover, Meta’s average revenue per user adds up to $9.54 from throughout the quarter, topping forecasts of $9.50. Despite the revenue miss, Meta continues to deliver on its key operational metrics.

Providing an overview on all of this is CEO Mark Zuckerberg. He starts by saying, “We made progress this quarter across a number of key company priorities and we remain confident in the long-term opportunities and growth that our product roadmap will unlock.” Zuckerberg also adds, “More people use our services today than ever before, and I’m proud of how our products are serving people around the world.” With all this positive momentum on FB stock now, investors could be keen to jump on. 

FB stock
Source: TradingView

[Read More] Best Stocks To Invest In? 5 Cyclical Stocks For Your List

Pinterest Stock Gains After Company Beats Top And Bottom Line Estimates In Latest Earnings Update

At the same time, another social media firm making waves in the stock market now would be Pinterest (NASDAQ: PINS). After posting its latest financials yesterday, the virtual pinboard platform operator is seeing notable gains. Evidently, PINS stock is now up by over 5% at today’s opening bell. Diving right in, the company is looking at earnings of $0.10 per share alongside revenue of $575 million. For reference, this would be versus consensus analyst forecasts of $0.04 and $573 million respectively. Also, Pinterest’s global average revenue per user is up by a solid 28% year-over-year, totaling $1.33. This would be just above Wall Street estimates of $1.31. While the company’s active user count cools from its pandemic-era highs, Pinterest does not seem to be sitting idly by.

Accordingly, the company writes, “we believe that consumers want positive environments dedicated to helping them go from the spark of inspiration through to planning and purchasing. With inspiring new video formats, improvements in core search and recommendations, and an ever-improving shopping experience, we see tremendous growth opportunities ahead of us.” This would go to show Pinterest’s resilience even when facing broad-based economic headwinds like its peers.  By and large, all of this seems to have investors keen on PINS stock for now.

PINS stock
Source: TradingView

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The post Stock Market Today: Dow Jones, S&P 500 Climbs; Meta Beat Expectations With Solid Earnings appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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There will soon be one million seats on this popular Amtrak route

“More people are taking the train than ever before,” says Amtrak’s Executive Vice President.

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While the size of the United States makes it hard for it to compete with the inter-city train access available in places like Japan and many European countries, Amtrak trains are a very popular transportation option in certain pockets of the country — so much so that the country’s national railway company is expanding its Northeast Corridor by more than one million seats.

Related: This is what it's like to take a 19-hour train from New York to Chicago

Running from Boston all the way south to Washington, D.C., the route is one of the most popular as it passes through the most densely populated part of the country and serves as a commuter train for those who need to go between East Coast cities such as New York and Philadelphia for business.

Veronika Bondarenko captured this photo of New York’s Moynihan Train Hall. 

Veronika Bondarenko

Amtrak launches new routes, promises travelers ‘additional travel options’

Earlier this month, Amtrak announced that it was adding four additional Northeastern routes to its schedule — two more routes between New York’s Penn Station and Union Station in Washington, D.C. on the weekend, a new early-morning weekday route between New York and Philadelphia’s William H. Gray III 30th Street Station and a weekend route between Philadelphia and Boston’s South Station.

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According to Amtrak, these additions will increase Northeast Corridor’s service by 20% on the weekdays and 10% on the weekends for a total of one million additional seats when counted by how many will ride the corridor over the year.

“More people are taking the train than ever before and we’re proud to offer our customers additional travel options when they ride with us on the Northeast Regional,” Amtrak Executive Vice President and Chief Commercial Officer Eliot Hamlisch said in a statement on the new routes. “The Northeast Regional gets you where you want to go comfortably, conveniently and sustainably as you breeze past traffic on I-95 for a more enjoyable travel experience.”

Here are some of the other Amtrak changes you can expect to see

Amtrak also said that, in the 2023 financial year, the Northeast Corridor had nearly 9.2 million riders — 8% more than it had pre-pandemic and a 29% increase from 2022. The higher demand, particularly during both off-peak hours and the time when many business travelers use to get to work, is pushing Amtrak to invest into this corridor in particular.

To reach more customers, Amtrak has also made several changes to both its routes and pricing system. In the fall of 2023, it introduced a type of new “Night Owl Fare” — if traveling during very late or very early hours, one can go between cities like New York and Philadelphia or Philadelphia and Washington. D.C. for $5 to $15.

As travel on the same routes during peak hours can reach as much as $300, this was a deliberate move to reach those who have the flexibility of time and might have otherwise preferred more affordable methods of transportation such as the bus. After seeing strong uptake, Amtrak added this type of fare to more Boston routes.

The largest distances, such as the ones between Boston and New York or New York and Washington, are available at the lowest rate for $20.

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The next pandemic? It’s already here for Earth’s wildlife

Bird flu is decimating species already threatened by climate change and habitat loss.

I am a conservation biologist who studies emerging infectious diseases. When people ask me what I think the next pandemic will be I often say that we are in the midst of one – it’s just afflicting a great many species more than ours.

I am referring to the highly pathogenic strain of avian influenza H5N1 (HPAI H5N1), otherwise known as bird flu, which has killed millions of birds and unknown numbers of mammals, particularly during the past three years.

This is the strain that emerged in domestic geese in China in 1997 and quickly jumped to humans in south-east Asia with a mortality rate of around 40-50%. My research group encountered the virus when it killed a mammal, an endangered Owston’s palm civet, in a captive breeding programme in Cuc Phuong National Park Vietnam in 2005.

How these animals caught bird flu was never confirmed. Their diet is mainly earthworms, so they had not been infected by eating diseased poultry like many captive tigers in the region.

This discovery prompted us to collate all confirmed reports of fatal infection with bird flu to assess just how broad a threat to wildlife this virus might pose.

This is how a newly discovered virus in Chinese poultry came to threaten so much of the world’s biodiversity.

H5N1 originated on a Chinese poultry farm in 1997. ChameleonsEye/Shutterstock

The first signs

Until December 2005, most confirmed infections had been found in a few zoos and rescue centres in Thailand and Cambodia. Our analysis in 2006 showed that nearly half (48%) of all the different groups of birds (known to taxonomists as “orders”) contained a species in which a fatal infection of bird flu had been reported. These 13 orders comprised 84% of all bird species.

We reasoned 20 years ago that the strains of H5N1 circulating were probably highly pathogenic to all bird orders. We also showed that the list of confirmed infected species included those that were globally threatened and that important habitats, such as Vietnam’s Mekong delta, lay close to reported poultry outbreaks.

Mammals known to be susceptible to bird flu during the early 2000s included primates, rodents, pigs and rabbits. Large carnivores such as Bengal tigers and clouded leopards were reported to have been killed, as well as domestic cats.

Our 2006 paper showed the ease with which this virus crossed species barriers and suggested it might one day produce a pandemic-scale threat to global biodiversity.

Unfortunately, our warnings were correct.

A roving sickness

Two decades on, bird flu is killing species from the high Arctic to mainland Antarctica.

In the past couple of years, bird flu has spread rapidly across Europe and infiltrated North and South America, killing millions of poultry and a variety of bird and mammal species. A recent paper found that 26 countries have reported at least 48 mammal species that have died from the virus since 2020, when the latest increase in reported infections started.

Not even the ocean is safe. Since 2020, 13 species of aquatic mammal have succumbed, including American sea lions, porpoises and dolphins, often dying in their thousands in South America. A wide range of scavenging and predatory mammals that live on land are now also confirmed to be susceptible, including mountain lions, lynx, brown, black and polar bears.

The UK alone has lost over 75% of its great skuas and seen a 25% decline in northern gannets. Recent declines in sandwich terns (35%) and common terns (42%) were also largely driven by the virus.

Scientists haven’t managed to completely sequence the virus in all affected species. Research and continuous surveillance could tell us how adaptable it ultimately becomes, and whether it can jump to even more species. We know it can already infect humans – one or more genetic mutations may make it more infectious.

At the crossroads

Between January 1 2003 and December 21 2023, 882 cases of human infection with the H5N1 virus were reported from 23 countries, of which 461 (52%) were fatal.

Of these fatal cases, more than half were in Vietnam, China, Cambodia and Laos. Poultry-to-human infections were first recorded in Cambodia in December 2003. Intermittent cases were reported until 2014, followed by a gap until 2023, yielding 41 deaths from 64 cases. The subtype of H5N1 virus responsible has been detected in poultry in Cambodia since 2014. In the early 2000s, the H5N1 virus circulating had a high human mortality rate, so it is worrying that we are now starting to see people dying after contact with poultry again.

It’s not just H5 subtypes of bird flu that concern humans. The H10N1 virus was originally isolated from wild birds in South Korea, but has also been reported in samples from China and Mongolia.

Recent research found that these particular virus subtypes may be able to jump to humans after they were found to be pathogenic in laboratory mice and ferrets. The first person who was confirmed to be infected with H10N5 died in China on January 27 2024, but this patient was also suffering from seasonal flu (H3N2). They had been exposed to live poultry which also tested positive for H10N5.

Species already threatened with extinction are among those which have died due to bird flu in the past three years. The first deaths from the virus in mainland Antarctica have just been confirmed in skuas, highlighting a looming threat to penguin colonies whose eggs and chicks skuas prey on. Humboldt penguins have already been killed by the virus in Chile.

A colony of king penguins.
Remote penguin colonies are already threatened by climate change. AndreAnita/Shutterstock

How can we stem this tsunami of H5N1 and other avian influenzas? Completely overhaul poultry production on a global scale. Make farms self-sufficient in rearing eggs and chicks instead of exporting them internationally. The trend towards megafarms containing over a million birds must be stopped in its tracks.

To prevent the worst outcomes for this virus, we must revisit its primary source: the incubator of intensive poultry farms.

Diana Bell does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

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This is the biggest money mistake you’re making during travel

A retail expert talks of some common money mistakes travelers make on their trips.

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Travel is expensive. Despite the explosion of travel demand in the two years since the world opened up from the pandemic, survey after survey shows that financial reasons are the biggest factor keeping some from taking their desired trips.

Airfare, accommodation as well as food and entertainment during the trip have all outpaced inflation over the last four years.

Related: This is why we're still spending an insane amount of money on travel

But while there are multiple tricks and “travel hacks” for finding cheaper plane tickets and accommodation, the biggest financial mistake that leads to blown travel budgets is much smaller and more insidious.

A traveler watches a plane takeoff at an airport gate.

Jeshoots on Unsplash

This is what you should (and shouldn’t) spend your money on while abroad

“When it comes to traveling, it's hard to resist buying items so you can have a piece of that memory at home,” Kristen Gall, a retail expert who heads the financial planning section at points-back platform Rakuten, told Travel + Leisure in an interview. “However, it's important to remember that you don't need every souvenir that catches your eye.”

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According to Gall, souvenirs not only have a tendency to add up in price but also weight which can in turn require one to pay for extra weight or even another suitcase at the airport — over the last two months, airlines like Delta  (DAL) , American Airlines  (AAL)  and JetBlue Airways  (JBLU)  have all followed each other in increasing baggage prices to in some cases as much as $60 for a first bag and $100 for a second one.

While such extras may not seem like a lot compared to the thousands one might have spent on the hotel and ticket, they all have what is sometimes known as a “coffee” or “takeout effect” in which small expenses can lead one to overspend by a large amount.

‘Save up for one special thing rather than a bunch of trinkets…’

“When traveling abroad, I recommend only purchasing items that you can't get back at home, or that are small enough to not impact your luggage weight,” Gall said. “If you’re set on bringing home a souvenir, save up for one special thing, rather than wasting your money on a bunch of trinkets you may not think twice about once you return home.”

Along with the immediate costs, there is also the risk of purchasing things that go to waste when returning home from an international vacation. Alcohol is subject to airlines’ liquid rules while certain types of foods, particularly meat and other animal products, can be confiscated by customs. 

While one incident of losing an expensive bottle of liquor or cheese brought back from a country like France will often make travelers forever careful, those who travel internationally less frequently will often be unaware of specific rules and be forced to part with something they spent money on at the airport.

“It's important to keep in mind that you're going to have to travel back with everything you purchased,” Gall continued. “[…] Be careful when buying food or wine, as it may not make it through customs. Foods like chocolate are typically fine, but items like meat and produce are likely prohibited to come back into the country.

Related: Veteran fund manager picks favorite stocks for 2024

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