The major US stock indices are required by about 1% on the day:

• Dow industrial average fell -367.19 points or -1.08% at 33684.54
• S&P index fell -48.31 points or -1.16% at 4119.57
• NASDAQ index fell -132.08 points or -1.08% at 12080.52
• Russell 2000 fell -37.10 points or -2.10% at 1732.10

Energy shares were lower after the sharp fall in crude oil prices:

• Chevron -4.28%
• Exxon -7.26%
• Hess -4.33%
• Occidental Petroleum -1.86%

Regional banks were also sharply lower. The S&P regional bank indice (KRE) fell $-2.60 or -6.27% to $38.86.

In after-hours earnings:

• Ford Motor Co (F) Q1 2023:

  • Adj. EPS: $0.63 (expected $0.41)
  • Revenue: $41.5 billion (expected $36.08 billion)
  • Reaffirms FY forecast
  • Sees FY adj. EBIT: $9 billion-$11 billion (expected $9.52 billion)

Shares of Ford are trading at $11.76 down from $11.80 at the close

• Starbucks Corp (SBUX) Q2 2023:

  • Adj. EPS: $0.74 (expected $0.65)
  • Revenue: $8.7 billion (expected $8.4 billion)
  • Comp. sales: +11% (expected +7.33%)
  • North America comp. sales: +12% (expected +9.03%)
  • US comp. sales: +12% (expected +8.91%)
  • International comp. sales: +7% (expected +1.51%)
  • China comp. sales: +3% (expected -9.86%)

Starbucks shares are trading at $113.04 down from the closing level of $114.46 in volatile trading

• Advanced Micro Devices (AMD)
  • EPS $0.60 versus expected $0.56
  • Revenues $5.35 billion were 6 expected $5.3 billion

Shares of AMD are trading at $89.66 down from the closing at $89.91

This article was written by Greg Michalowski at www.forexlive.com.

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