The high water mark for the S&P index for today was -3.29 points. Getting into positive territory has been a challenge with the current price down -23 points are -0.42% at 5662.5. At session lows, the index was down -52.19 point.
There is still 15 minutes to go in trading but traders seem to be anxious to snap the win streak today.
After the close Palantir and Ford will report earnings.
Palantir shares are trading down $0.17 (-0.13%) at $124.11. Earlier in the session, the stock reached a high of $125.26, just shy of the all-time high of $125.41 set on February 19. After hitting that record in February, Palantir fell sharply to a low of $66.12, marking a 46.68% decline, before mounting an impressive rebound back to current levels.
The company is set to report earnings with expectations for EPS of $0.13 and revenue of $862.17 million, compared to $0.08 EPS and $634.34 million in revenue in the same quarter a year ago.
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EPS growth: +62.5% year-over-year
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Revenue growth: +35.9% year-over-year
Ford trades lower ahead of flat earnings forecast
Ford shares are down $0.14 (-1.36%) at $10.14. Earnings are expected to come in unchanged, with revenue forecast at $38.02 billion, versus $0.49 EPS and $42.78 billion in the year-ago quarter.
A year ago on earnings day, Ford stock closed at $12.95. It later declined to a low of $8.44 on April 9 before rebounding this past month. On Friday, the stock reached a high of $10.39, nearly matching the $10.40 high from March 27, and just below previous peaks of $10.42 (January 27) and $10.45 (January 21).
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EPS growth: –100% year-over-year
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Revenue decline: –11.1% year-over-year
This article was written by Greg Michalowski at www.forexlive.com.
