* Cisco (CSCO) tumbles on full-year growth forecast cut. * Canada Goose jumps after upbeat profit outlook. * Indexes: S&P 500 -0.17%, Nasdaq +0.38%, Dow -0.47% By Devik Jain and Noel Randewich. May 19 - Wall Street was mixed on Thursday, with Cisco Systems (CSCO) slumping following a dismal outlook, while Nvidia (NVDA) and other megacap growth stocks rebounded after recent losses.
* Global shares slide as Wall Street cools a bit. * Bonds rally on safety appeal, dollar backs away from highs. * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Herbert Lash and Marc Jones.
- Wall Street was mixed on Thursday, with Cisco Systems slumping following a dismal outlook, while Nvidia (NVDA) and other megacap growth stocks rebounded after recent losses. Shares of Cisco dropped 14.4% after the networking gear maker lowered its 2022 revenue growth outlook, taking a hit from its Russia exit and component shortages related to COVID-19 lockdowns in China.
The Federal Reserve is not targeting equity markets in its battle against inflation, but that is "one of the avenues" where the impact of tighter monetary policy will be felt, Kansas City Fed President Esther George said on Thursday.
- Wall Street ended lower after a volatile session on Thursday, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates. Shares of Cisco slumped 13.7% after the networking gear maker lowered its 2022 revenue growth outlook, taking a hit from its Russia exit and component shortages related to COVID-19 lockdowns in China.
From meme-stock enthusiasts to retirees, this year's steep dive for both stocks and U.S. Treasury prices has upended portfolios for individual investors who had enjoyed watching their wealth grow during the historic rally in financial assets early in the coronavirus pandemic in 2020.
* Stocks slide as inflation scare drives uncertainty. * UK inflation hits 9%, in Canada rises to 6.8% * German 2-year yield hits 2011 high on ECB rate hike bets. By Herbert Lash and Chuck Mikolajczak. Global stocks plunged and the dollar strengthened for the first time in four sessions on Wednesday as concerns about rising inflation on economic growth soured sentiment.
* Target Corp (TGT) loses quarter of value as profit slumps. * Megacap growth stocks drag down S&P 500, Nasdaq. By Noel Randewich and Amruta Khandekar. May 18 - Wall Street ended sharply lower on Wednesday, with Target (TGT) losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required