US stock market session started the day lower, as investor confidence took a hit following former President Donald Trump's new proposal for tariffs on pharmaceutical imports. This added to concerns already weighing on the market due to neutral corporate earnings. At the opening bell, US100 fell by 1.30% to 19700 points, US500 drops by 1.00% to 6815 points and US2000 by 1.20% to 1987 points.
US100
The index of the largest companies, US500, pulls back after encountering resistance just below the 5730-point area. From a technical perspective, a correction after the recent gains is understandable. From a fundamental perspective, however, the latest rally was driven by verbal interventions from the U.S. administration, which have not yet been followed by any trade agreements. Although, based on recent assurances, such deals are expected in the coming weeks.
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Upwork (UPWK.US) surged 12.45% after beating Q1 estimates, with active clients at 812K and GSV/client up 3% Y/Y. Enterprise clients more than doubled. Q2 revenue is guided at $184M–$189M, and full-year EBITDA was raised to $190M–$200M.
Palantir (PLTR.US) dropped 13.70% despite beating Q1 and raising FY guidance. FY revenue is now seen at $3.89B–$3.9B (vs. $3.75B est.), but shares fell likely due to high expectations and valuation concerns.
Ford (F.US) gains 1.70% after solid Q1 results, but it withdrew FY2025 guidance citing $1.5B EBIT risk from tariffs and uncertainty over supply chains and trade policy.
Clorox (CLX.US) declined 4.75% after Q3 revenue dropped ~8% Y/Y. It guided flat to -1% FY sales, citing business divestitures. FY EPS was raised to $5.73–$6.13, boosted by favorable comps.
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