Dow drops more than 600 points on inflation and growth concerns, heads for biggest drop of the year: Live updates [CNBC]
International Business Machines Corporation (IBM)
Last international business machines corporation earnings: 4/20 04:08 pm
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Source: CNBC
The Dow Jones Industrial Average slid 631 points, or 1.7%, weighed down by sharp declines in Caterpillar and IBM . The S&P 500 dropped 1.2%, and the Nasdaq Composite lost 1.4%. U.S. gross domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Along with the downbeat growth rate for the quarter, the report showed consumer prices increased at a 3.4% pace, well above the previous quarter's 1.8% advance. This raised concern over persistent inflation and put into question whether the Federal Reserve will be able to cut rates anytime soon. “In the short term, the numbers don't appear to be a green light for either bulls or bears...the uncertainty is unlikely to ease pressures in a market experiencing its deepest pullback since last year,” said Chris Larkin managing director of trading and investing at E*Trade from Morgan Stanley. Following the GDP print, traders moved down
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IBM
Earnings
- 4/24/24 - Beat
IBM
Sec Filings
- 5/3/24 - Form 8-K
- 4/30/24 - Form 10-Q
- 4/25/24 - Form 8-K
- IBM's page on the SEC website