U.S. major indices traded lower at midday Wednesday, pressured by sharp declines in tech and semiconductor stocks after Washington tightened chip export restrictions to China.
Chipotle's earnings release on April 23 could impact ETFs with exposure to the stock. Analysts have lowered price estimates due to lower customer interest and a complicated growth outlook.
Wall Street gained ground by midday trading on Tuesday, as investor concerns over the economic impact of trade tensions continued to ease following recent signs that the Trump administration was taking a more conciliatory approach.
The spread between the best and the worst performing sectors year to date has widened sharply to more than 19 percentage points, based on a set of ETFs.
In a post on X, Starbucks Workers United said the company is prioritizing superficial branding moves over “real issues like understaffing, fair contracts, and guaranteed hours.”
In the company's earnings report last month, management discussed plans to improve the layout and presentation of its stores and promote more wellness products and online sales.
Goldman Sachs anticipates that ongoing macroeconomic volatility and consumer strain will act as a drag on the more "macro-sensitive segments,” such as hotels.
Wall Street pared early morning gains by midday Monday, as investor caution returned despite a temporary easing in U.S.-China trade tensions. While the initial market reaction was positive, especially in tech, enthusiasm faded as the trading session progressed.
XLY slipped Thursday as investors took profits following Wednesday's tariff-driven consumer stock rally. Cooling inflation supported sentiment, but Amazon, Tesla, and others retreated after sharp previous gains.
