Short interest for eBay gives investors a sense of the degree to which investors are betting on the decline of eBay's stock. Short interest data is updated every two weeks.

eBay Stock (NASDAQ:EBAY), Short Interest Report

eBay

EBay operates one of the largest e-commerce marketplaces in the world, with $73 billion in 2023 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company. The company generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 130 million buyers and roughly 20 million sellers across almost 190 global markets at the end of 2023. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.

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Here&#39;s What $100 In Dogecoin Would Be Worth If You Invested 10 Years Ago

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Etsy Reports Downbeat Earnings, Joins Fastly, DoorDash And Other Big Stocks Moving Lower In Thursday&#39;s Pre-Market Session

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U.S. stocks look to push ahead on a positive path, now that the Federal Reserve’s rate decision is in the rearview mirror. Major index futures point to a positive open on Thursday.

Nasdaq, S&amp;P 500 Futures Rise Ahead Of Apple Earnings: Why This Analyst Thinks &#39;No Cut&#39; Scenario May Not Be Negative For Market

eBay Inc

Truist Securities analyst Youssef Squali maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Hold and raises the price target from $48 to $50.

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Analyst Ratings

Truist Securities Maintains Hold on eBay, Raises Price Target to $50

When cryptocurrency was getting its footing 10 years ago, it was only used by niche internet communities. A handful of users put money into tokens and have held them for years, creating a huge amount of wealth.&nbsp;
Over the past decade, many cryptocurrencies have seen big returns on investment, turning pocket change into millions of dollars. One of these original cryptocurrencies is Dogecoin (DOGE).
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<li>How much Bitcoin did Michael Saylor says you need to become a millionaire?<a href="https://www.benzinga.com/money/1milbitcoin-adv"> The number may shock you.</a></li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>
DOGE was created in 2013, and its price remained relatively constant until 2021. Around this time, the token took off on social media and received praise from Tesla Inc. CEO Elon Musk. This caused the price of DOGE to skyrocket from less than a penny to nearly $0.75 in less than four months — a gain of over 13,000%.&nbsp;
While the price of DOGE has fallen considerably since 2021 highs, the price has seen strong resistance around the $0.12 level and has performed well in 2024.&nbsp;
A decade ago, the price of DOGE went as low as $0.0001. In 2024, the price of DOGE went as high as $0.23 — a gain of nearly 230,000%. Additionally, from lows 10 years ago to all-time highs (ATHs) in 2021, the price increased by 740,000%.&nbsp;
These unprecedented gains are among the highest in the world in the same period. A $100 investment in 2014 would have been worth $740,000 in 2021 and $230,000 in 2024.
<a href="https://bitinfocharts.com/dogecoin/address/DDTtqnuZ5kfRT5qh2c7sNtqrJmV3iXYdGG">One investor</a> had the foresight (or perhaps the stupidity) to see potential in DOGE back in 2014. The Cryptsy wallet purchased 5 billion DOGE in early 2014 for $4 million. The purchases allowed the owner to amass 3.49% of the entire DOGE supply. The wallet's owner has not sold any of the tokens since, and the portfolio's value has fluctuated along with the price of DOGE. At highs, the wallet held more than $3.5 billion of DOGE. It's now worth around $700 million.&nbsp;
DOGE's market cap also went from less than $10 million in 2014 to more than $30 billion in 2024. At its peak in 2024, DOGE had a larger market capitalization than some of the largest companies in the world, including HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) and DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>).&nbsp;
DOGE has been one of the most interesting stories of the past decade, bringing in tens of billions in investment while offering virtually no value to users. The token has created millionaires and billionaires seemingly out of nothing. It will be interesting to see what the future holds for DOGE, particularly regarding the price of the token.&nbsp;
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<li>1 in 4 Americans own a share of Bitcoin according to NASDAQ,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire,<a href="https://www.benzinga.com/money/adv-6eth"> here&#8217;s why it can be true</a>.</li>
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<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/digital-assets"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28172612/905735A6-57D3-4874-9AA1-75D037842DB3.gif" alt="crypto digital assets" class="wp-image-269852" /></a></figure>

Here's What $100 In Dogecoin Would Be Worth If You Invested 10 Years Ago

TD Cowen analyst John Blackledge maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Hold and raises the price target from $42 to $45.

TD Cowen Maintains Hold on eBay, Raises Price Target to $45

Providing a diverse range of perspectives from bullish to bearish, 16 analysts have published ratings on eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) in the last three months.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated eBay and provided 12-month price targets. The average target is $54.5, accompanied by a high estimate of $65.00 and a low estimate of $44.00. Observing a 11.22% increase, the current average has risen from the previous average price target of $49.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1714672831_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A comprehensive examination of how financial experts perceive eBay is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Lauren Schenk</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$61.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Ross Sandler</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$65.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Daniel Kurnos</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$58.00</td>
<td>-</td>
</tr>
<tr>
<td>James Lee</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$49.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Colin Sebastian</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$57.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Lauren Schenk</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$62.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Lee Horowitz</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$58.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Ken Gawrelski</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$47.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Joseph Bonner</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$58.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Youssef Squali</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$48.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Shyam Patil</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$52.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Kunal Madhukar</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Ross Sandler</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$61.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Brian Pitz</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$53.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Thomas Champion</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$52.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>James Lee</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$44.00</td>
<td>$40.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to eBay. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of eBay compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of eBay's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of eBay's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/EBAY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on eBay analyst ratings.</a>
<h2>Get to Know eBay Better</h2>
EBay operates one of the largest e-commerce marketplaces in the world, with $73 billion in 2023 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company. The company generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 130 million buyers and roughly 20 million sellers across almost 190 global markets at the end of 2023. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.
<h3>Key Indicators: eBay's Financial Health</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: eBay's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of 2.07%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: eBay's net margin is impressive, surpassing industry averages. With a net margin of 28.26%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): eBay's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 11.78% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): eBay's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 3.38%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 1.29, eBay adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From eBay Analyst Ratings

Morgan Stanley analyst Lauren Schenk maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Overweight and lowers the price target from $62 to $61.

Morgan Stanley Maintains Overweight on eBay, Lowers Price Target to $61

Barclays analyst Ross Sandler maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Overweight and raises the price target from $61 to $65.

Barclays Maintains Overweight on eBay, Raises Price Target to $65

Live On CNBC, eBay CEO Jamie Iannone Discusses Quarterly Results, The State Of The Consumer

Benchmark analyst Daniel Kurnos reiterates eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Buy and maintains $58 price target.

Reiteration

Benchmark Reiterates Buy on eBay, Maintains $58 Price Target

U.S. stock futures were higher this morning, with the Dow futures gaining over 150 points on Thursday.
Shares of Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/05/38565528/etsy-q1-earnings-revenue-miss-eps-miss-challenging-macroeconomic-environment">first-quarter financial results</a>.
Etsy reported first-quarter revenue of $645.954 million, which missed the consensus estimate of $646.33 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The company reported quarterly earnings of 48 cents per share, which missed estimates of 49 cents per share.
Etsy shares tumbled 13.2% to $60.45 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Fastly, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>) shares dipped 31.8% to $8.82 in pre-market trading after the company reported first-quarter financial results. The company said it expects second-quarter revenue in a range of $130 million and $134 million, versus the $140.16 million analyst estimate.</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) shares tumbled 28.6% to $13.02 in pre-market trading after the company reported first-quarter financial results and announced a CEO transition. Baird analyst Rob Oliver downgraded Freshworks from Outperform to Neutral and lowered the price target from $28 to $16.</li>
<li>Remitly Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELY#NASDAQ">RELY</a>) shares declined 16.7% to $14.58 in pre-market trading after the company reported mixed first-quarter financial results.</li>
<li>DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) dipped 12.5% to $111.50 pre-market trading after the company reported mixed first-quarter financial results.</li>
<li>CytomX Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTMX#NASDAQ">CTMX</a>) shares fell 12.7% to $4.48 after jumping 215% on Wednesday.</li>
<li>Wolfspeed Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares declined 11.3% to $23.15 in pre-market trading following weak quarterly sales.</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares dipped 10.6% to $100.00 in pre-market trading following weak first-quarter guidance.</li>
<li>Paycom Software Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) shares fell 9.3% to $169.00 in pre-market trading following weak second-quarter guidance.</li>
<li>Hudson Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDSN#NASDAQ">HDSN</a>) shares fell 8.2% to $9.00 in pre-market trading following first-quarter results.</li>
<li>Appian Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>) shares declined 7.4% to $34.00 in pre-market trading after the company reported worse-than-expected first-quarter earnings and updated FY24 outlook.</li>
<li>Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) shares declined 6.5% to $39.19 pre-market trading after the company reported its first-quarter financial results.</li>
<li>Schrodinger Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDGR#NASDAQ">SDGR</a>) shares declined 5.8% to $23.80 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Prudential Financial Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>) shares fell 5.4% to $106.29 in pre-market trading following downbeat earnings.</li>
<li>eBay Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) shares fell 3.4% to $49.35 in pre-market trading after the company reported first-quarter financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38573088/apple-kellanova-and-3-stocks-to-watch-heading-into-thursday">Apple, Kellanova And 3 Stocks To Watch Heading Into Thursday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Etsy Reports Downbeat Earnings, Joins Fastly, DoorDash And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Mizuho analyst James Lee maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Neutral and raises the price target from $44 to $49.

Mizuho Maintains Neutral on eBay, Raises Price Target to $49

Baird analyst Colin Sebastian maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Outperform and raises the price target from $50 to $57.

Baird Maintains Outperform on eBay, Raises Price Target to $57

U.S. stocks look to push ahead on a positive path, now that the <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">Federal Reserve&#8217;s rate decision </a>is in the rearview mirror. Major index futures point to a positive open on Thursday. Pent-up demand following the recent losses could provide some upward thrust to the market but a lot would ride on the earnings reports that traders get to digest.
Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is on track to report after the market closes, while most tech earnings released after Wednesday&#8217;s closing bell have triggered negative reactions. Traders may also watch out for the jobless claims data and bond yields, given their significance for the Fed funds rate.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.95%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.64%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.36%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.87%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.67% to $503.71,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.97% to $425.62, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Despite Fed Chair Jerome Powell treading a dovish line, the major averages closed mixed on Wednesday. Stocks mostly languished sideways until the afternoon, characteristic of a Fed decision day. They began to rise after the pause verdict was announced and the upward momentum accelerated after Powell&#8217;s press conference.
The Fed chief made it clear that the Fed would likely ease rather than tighten further and also conceded that the monetary policy is restrictive. Sentiment reversed course in the last thirty minutes of trading and the averages reversed course before closing mixed.
The S&amp;P 500 and the Nasdaq Composite fell for a second straight session, returning to their lowest closing level since April 22. The Dow Industrials ended higher, thanks to strong gains in the shares of Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). Energy and IT stocks fell sharply, while utility and communication services stocks gained ground.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.33%</td>
<td>15,605.48</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.34%</td>
<td>5,018.39</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.23%</td>
<td>37,903.29</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.32%</td>
<td>1,980.23</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
There is more downside risk to the market in the intermediate term, said Morgan Stanley&#8217;s Lisa Shalett. She noted that the prospect of interest rate cuts helped buoy stocks in the first quarter. The strength continued, thanks to decent first-quarter 2024 company earnings results thus far as well as investors' hope that above-trend economic growth could offset any negative effects from higher rates. 
The odds of the more concerning recessionary &#8220;hard landing,&#8221; in which the economy slows sharply, have jumped to about 25%-30%, she said.&nbsp;
Larry Tentarelli, Chief Technical Strategist, Blue Chip Daily Trend Report, said a &#8220;no cut scenario&#8221; in 2024 may not be a negative, as long as inflation does not turn up and the economy holds up reasonably well.
&#8220;We believe that the Fed will remain data dependent, meeting to meeting. Unless 12-month core PCE starts to drop meaningfully, to at least 2.40% or less in the next two months than any rate cuts could be delayed, including for all of 2024,&#8221; he said.
&#8220;A caveat here would be the labor market and if jobs start to weaken notably. A very weak jobs market could prompt the Fed to cut, but this is not the case now, with a very strong labor market.&#8221;
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its jobless claims report at 8:30 a.m. EDT, with economists, on average, expecting the number of individuals filing for unemployment benefits to come in at 212,000 in the week ended April 25. This compares to the previous reporting week&#8217;s 207,000.</li>
<li>The Labor Department will also release its preliminary first-quarter productivity and costs report around the same time. The consensus estimates call for a 0.5% quarter-over-quarter increase in non-farm productivity and a 4% increase in unit labor costs. This compares to 3.2% and 0.4% growth rates, respectively, for the fourth quarter.</li>
<li>The Commerce Department is scheduled to release its trade balance and factory goods orders data, both for March, at 8:30 a.m. EDT and 10 a.m. EDT, respectively. The trade deficit may have widened to $69.5 billion, up from a deficit of $68.9 billion in February. Factory orders may have increased 1.7% month-over-month, faster than the 1.4% growth in February.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus: 
<ul>
<li>Shares of freight &amp; logistics company C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) climbed over 12% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly results.</li>
<li>Other shares moving on earnings news are eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) (down over 3%), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) (down over 12.50%), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (down about 2.50%), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) (down over 27%), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>) (down about 4%), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) (up over 6%), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) (down over 20%), Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) (up over 4%), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) (down over 10%), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) (up over 3.50%), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>) (up about 10%), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) (down about 9%), DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) (down over 12%) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>) (down over 6%).</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) and Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) and Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures, which slumped over 3.50% Wednesday following the Fed decision, recovered slightly on Thursday but held below the $80 psychological resistance. After advancing modestly on Wednesday, gold futures reversed course, with an ounce of the yellow metal fetching $2,307.45.
After Wednesday&#8217;s retreat, the 10-year note yield edged up and was around the 4.62% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell below $60,000 but saw a modest recovery early in U.S. premarket hours.
Asian markets, which reopened after Wednesday&#8217;s Labor Day holiday, ended mostly higher, led by the Hong Kong market. The Chinese market remained closed for a second day, in observance of Labor Day. European stocks pulled back in early trading, with the Euros STOXX 50 Index down over 0.40%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38573665/bitcoin-selloff-just-getting-started-gold-bull-peter-schiff-spots-bearish-technical"> Bitcoin Selloff Just Getting Started? Gold Bull Peter Schiff Spots Bearish Technical Pattern As BTC Drops Below $60K</a>
Photo via Shutterstock.

Nasdaq, S&P 500 Futures Rise Ahead Of Apple Earnings: Why This Analyst Thinks 'No Cut' Scenario May Not Be Negative For Market

WIIM

eBay shares are trading lower after the company reported Q1 financial results.

Guidance

eBay Sees Q2 2024 Revenue $2.49B-$2.54B Vs $2.55B Estimate

eBay Sees Q2 2024 Adj. EPS $1.10-$1.15 Vs $1.14 Estimate

eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) reported quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.20 by 4.17 percent. The company reported quarterly sales of $2.60 billion which beat the analyst consensus estimate of $2.53 billion by 2.63 percent. This is a 3.59 percent increase over sales of $2.51 billion the same period last year.

Earnings Beats

eBay Q1 2024 Adj EPS $1.25 Beats $1.20 Estimate, Sales $2.60B Beat $2.53B Estimate

Traders are treading cautiously in Wednesday&#8217;s session, seeking more clarity on the Federal Reserve&#8217;s stance with <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">inflation reports exceeding expectations. </a>
The forthcoming Federal Open Market Committee statement is anticipated to maintain interest rates where they are and possibly unveil a reduction in the Fed&#8217;s balance sheet runoff from $60 billion to $30 billion monthly. Fed Chair Jerome Powell&#8216;s press conference is at 2:30 p.m. ET.
The S&amp;P 500 inched 0.2% lower, while the tech-heavy Nasdaq 100 underperformed, down 0.6%. Blue chips managed to avoid losses and showcased a 0.3% rise. 
Aside from Fed policy, earnings remain a key driver of market sentiment, particularly as chipmaker Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) offered less optimistic second-quarter guidance than expected. This news led to a nearly 10% drop in its share price. In sympathy, the broader industry saw a decline, with heavyweight Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) also experiencing a more than 5% decrease in its shares.
Data-wise, the ADP National Employment Report revealed a stronger-than-expected private jobs addition in April, ahead of the highly awaited official jobs report on Friday. The ISM Manufacturing Index surprisingly fell back into contraction territory, missing expectations. 
Sentiment on the cryptocurrency market continued to remain fragile, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sinking over 5%, on track for a two-day, 10% slump, the worst since November 2022. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,940.89</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,972.88</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,024.25</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,334.25</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:28 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.2% to $501.04, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $379.38 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.6% to $422.21, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.2%, followed by the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), up 1.1%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 1.6%.
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) plummeted over 16% in reaction to its earnings report. </li>
<li>Other companies reacting to earnings were Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), up 1.2%, Stryker Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIK#NYSE">SIK</a>), Mondelez International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) down 1.6%, Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) down 1%, Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), The Estee Lauder Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), down 13%, Pinterest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NASDAQ">PINS</a>) up nearly 20%, New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) up over 30% and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down nearly 14%.</li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38557569/april-jobs-report-preview-bank-of-america-anticipates-solid-payrolls-growth-risin">April Jobs Report Preview: Bank Of America Anticipates Solid Payrolls Growth, Rising Wage Pressures</a>
Illustration created using artificial intelligence via MidJourney.

Macro Economic Events

Macro Notification

Broad U.S. Equity ETFs

Currency ETFs

Econ #s

ETFs

SPDR Dow Jones Industrial Average ETF Trust

MDLZ

NCLH

NVDA

NYCB

PINS

SBUX

US Stocks Mixed Ahead Of Fed Meeting, Chipmakers Tumble After AMD Earnings, Bitcoin Sinks: What's Driving Markets Wednesday?

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after&nbsp;Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up" rel="noreferrer noopener">underwhelming quarterly report</a>, exerting pressure on the tech sector and the broader market. However, the afternoon&#8217;s Federal Reserve interest rate decision and subsequent press conference by Chairman&nbsp;Jerome Powell&nbsp;could be the&nbsp;key&nbsp;catalyst that ultimately determines the session&#8217;s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $499.92,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 0.75% to $421.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Inclement economic data weighed down on the market on Tuesday, as the major averages reversed course, snapping a two-session advance. The employment cost index &#8211; a measure of wage-induced inflation rose more than expected in the first quarter, Chicago region&#8217;s manufacturing activity sunk further into contraction territory and consumer confidence fell below a threshold that demarcates receding and improving sentiment, three separate reports showed.
Bond yields spiked, exerting further downward pressure on stocks.
The averages opened narrowly mixed and moved roughly sideways in early trading. The indices declined steadily through the remainder of the session, ending notably lower for the day. The sell-off was broad-based, with IT, energy, and consumer discretionary stocks serving as big drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.04%</td>
<td>15,657.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.57%</td>
<td>5,035.69</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.49%</td>
<td>37,815.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.09%</td>
<td>1,973.91</td>
</tr>
</tbody>
</table>
</figure>
For the month, the indices fell 4.41%, 4.16%, 5.00% and 7.09%, respectively, with the S&amp;P 500 snapping a five-month winning run.
Insights From Analysts:
Powell alone can help lift some of the overhang surrounding the rate outlook and this could be the need of the hour, according to an analyst. Charlie Ripley, Senior Investment Strategist for Allianz Investment Management, said, &#8220;Market sentiment continues to waver on inflation-related data sets,&#8221; said the analyst, adding that data showing a jump in employment costs left an &#8220;unsavory taste in the mouth of investors.&#8221; 
&#8220;The continued realization that sticky service-related inflation metrics are taking a bite out of the Fed's rate-cutting plans has investors on edge for the time being and this is squarely being reflected in the sell-off of both bonds and equities,&#8221; Ripley said.
He expects Powell to help shed some light on the current uncertainty surrounding the path of policy rates.  
Carson Group&#8217;s Ryan Detrick, meanwhile, isn&#8217;t worried about the normally bullish April struggling this year. The S&amp;P 500 Index has been higher for five months in a row heading into it and some type of break was warranted, he said.
&#8220;In fact, we wouldn't be surprised if stocks consolidated for another month or so, working off some of the historic rebound off the late-October lows. We do not expect major weakness, but a break makes sense,&#8221; he added.
Detrick raised the specter of a summer rally, and strength during these six months, given it is an election year and stocks have been strong so far this year.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll data for April at 8:15 a.m. EDT. Economists, on average, expect the sector to have added 183,000 jobs during the month, flattish with the previous month.</li>
<li>The Institute for Supply Management is scheduled to release its manufacturing purchasing managers&#8217; index for March at 10 a.m. EDT. The consensus estimate calls for a reading of 49.9, suggesting contraction, down from 50.3 in February.</li>
<li>The Labor Department will release the results of its Job Openings and Labor Turnover survey at 10 a.m. EDT, with the average economists&#8217; estimate for job openings at 8.7 million for March, down from 8.8 million in February.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, will likely show a 0.3% month-over-month increase in spending in March. This compares to a 0.3% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will release its post-meeting policy statement at 2 p.m. EDT and this will be followed by Powell&#8217;s press conference at 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>AMD fell over 6.5% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after the company reported a small first-quarter beat and issued a lukewarm forward guidance. Peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip stocks moved in sympathy.</li>
<li> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed over 2% following its first-quarter results.</li>
<li>Other stocks moving on earnings are Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (up about 18%), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (down over 12%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (down about 13%), and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) (down about 9%).</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell for a third straight session, as the price pulled back toward the $80-a-barrel mark, and gold futures were little changed with a negative bias. An ounce of gold traded for around $2,300.
The 10-year note yield edged up and was around the 4.69% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back sharply toward the $57K mark.
Most global equity markets remained closed for the Labor Day holiday. The open ones, including Japan, New Zealand, and Australia, settled lower ahead of the U.S. Fed decision.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
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Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, ahead of its annual I/O developer conference in May, has confirmed layoffs across various vital teams such as Flutter, Dart, Python, and others, according to employee reports on social media.&nbsp;
The tech giant did not specify the teams, roles, or the number of individuals affected, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/04/29/google-lays-off-staff-from-flutter-dart-python-weeks-before-its-developer-conference/" rel="noreferrer noopener">reports</a>.&nbsp;
Google spokesperson Alex García-Kummert explained that these changes aim to align resources with the company&#8217;s most significant product priorities, improve efficiency, and reduce bureaucracy.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38498886/microsoft-meta-and-alphabet-ramp-up-ai-investments-spend-over-32b-in-q1" rel="noreferrer noopener">Microsoft, Meta, and Alphabet Ramp Up AI Investments, Spend Over $32B in&nbsp;Q1</a>
The layoffs are part of regular organizational adjustments and are not company-wide. Google encourages those affected to apply for other available positions within the company.&nbsp;
Despite the cuts, Google PM Kevin Moore assured the Flutter development community that they&nbsp;are still focused&nbsp;on upcoming projects, including new updates for Flutter at the I/O conference.
The company has also filed a WARN notice in California, indicating the layoff of 50 employees across three locations in Sunnyvale.
In 2024,&nbsp;<a target="_blank" href="https://www.benzinga.com/startups/24/02/37397112/despite-booming-economy-and-record-profits-google-amazon-microsoft-and-more-lay-off-over-42-000-so-f" rel="noreferrer noopener">the tech sector</a>&nbsp;surpassed last year&#8217;s layoff figures, with over 42,324 workers losing their jobs.&nbsp;
This&nbsp;comes after nearly 263,000 tech layoffs in 2023, continuing the industry&#8217;s trend of job cuts.&nbsp;Major companies, including Google,&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Discord,&nbsp;Salesforce Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NASDAQ">CRM</a>),&nbsp;eBay Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), and&nbsp;PayPal Holdings Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>)&nbsp;have&nbsp;announced significant layoffs in January.
Several factors contribute to this seemingly contradictory situation. Firstly, the rapid advancement in AI technology requires substantial investments in new technologies, prompting companies to reallocate resources and reduce their workforce.
GOOG shares&nbsp;gained 56% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares Global&nbsp;Comm Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) and&nbsp;The Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Price Action:&nbsp;GOOG shares traded lower by 0.07% at $167.78 on&nbsp;the last check Tuesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38312864/googles-strategic-job-cuts-reflect-ongoing-cost-cutting-measures-affecting-real-estate-and-finance-d" rel="noreferrer noopener">Google&#8217;s Strategic Job Cuts Reflect Ongoing Cost-Cutting Measures, Affecting Real Estate and Finance Departments</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Do you prefer growth or value? Maybe a mix of both? Or do you focus on businesses that show respect to the shareholders through dividends and share buybacks? I&rsquo;ve got an &ldquo;all of the above&rdquo; pick for you today with eBay (NASDAQ:<a href="https://investorplace.com/stock-quotes/ebay-stock-quote/">EBAY</a>), so stick around and I&rsquo;ll give you plenty of reasons to buy and hold eBay stock.



On top of everything else, eBay is jumping headfirst into the artificial intelligence trend. When all is said and done, eBay covers all the bases and checks all the boxes for today&rsquo;s investors. It&rsquo;s not a question of whether you should buy eBay shares, but how many you should buy right now.



<h2>eBay Could Grow Faster With AI</h2>



Is eBay growing as a business? Let&rsquo;s check the company&rsquo;s fourth-quarter 2023 stats. eBay&rsquo;s revenue <a href="https://finance.yahoo.com/news/ebay-inc-reports-fourth-quarter-210500425.html">increased 2%</a> year over year to $2.6 billion, beating Wall Street&rsquo;s consensus estimate of <a href="https://www.barrons.com/articles/ebay-earnings-stock-price-db1de8f8">$2.5 billion</a>.



Furthermore, eBay&rsquo;s Q4-2023 gross merchandise volume grew 2% YOY to&nbsp;$18.6 billion, while analysts had expected $18.1 billion in quarterly GMV. This isn&rsquo;t massive growth, but it&rsquo;s still better than what Wall Street had anticipated.



Perhaps eBay will grow faster with the help of AI. According to a Barron&rsquo;s report, Morgan Stanley analysts see an &ldquo;opportunity for eBay with <a href="https://www.barrons.com/articles/ebay-stock-etsy-morgan-stanley-6c326142">artificial intelligence-assisted listings</a>, explaining how incorporating those can edge sales higher while also allowing margins to expand.&rdquo;



Speaking of AI, eBay recently <a href="https://www.yahoo.com/tech/ebay-refreshes-shop-look-era-193706097.html">added a feature</a> called &ldquo;shop the look&rdquo; to the company&rsquo;s <a href="https://finance.yahoo.com/news/ebay-adds-ai-powered-shop-160805611.html">iOS mobile app</a>. Using interactive &ldquo;hot spots,&rdquo; the &ldquo;shop the look&rdquo; feature uses generative AI to display fashion-apparel items similar to those an eBay user has already viewed.



<h2>eBay&rsquo;s Great Value, Yield and Buybacks</h2>



Still not convinced to make an investment in eBay? No problem &ndash; I&rsquo;m just getting started. First of all, eBay stock should appeal to anyone who is strongly focused on value.



On a trailing 12-month basis, eBay&rsquo;s GAAP-measured price-to-earnings (P/E) ratio is only <a href="https://seekingalpha.com/symbol/EBAY/valuation/metrics">9.85x</a>. For reference, the sector median P/E ratio is 17.22x. So, eBay is very reasonably valued at the moment.



EBay stock should appeal to passive-income investors as eBay declared a <a href="https://finance.yahoo.com/news/ebay-inc-reports-fourth-quarter-210500425.html">quarterly dividend</a> of 27 cents per share. 



That&rsquo;s up 8% compared to the prior quarterly dividend distribution. EBay&rsquo;s forward annual dividend yield is <a href="https://www.tipranks.com/stocks/ebay/dividends">1.96%</a>, versus the consumer cyclical sector average dividend yield of around 1%.



Finally, eBay authorized an <a href="https://finance.yahoo.com/news/ebay-inc-reports-fourth-quarter-210500425.html">additional $2 billion</a> worth of buybacks to the company&rsquo;s share-repurchase program. This increased eBay&rsquo;s remaining share-repurchase authorization to&nbsp;$3.4 billion. 



Thus, it&rsquo;s fair to call eBay a <a href="https://investorplace.com/2024/04/7-buyback-kings-to-buy-as-corporate-cash-floods-market/">buyback king</a> as the company continues to demonstrate respect to its shareholders.



<h2>eBay Stock Gives You Everything but the Kitchen Sink</h2>



I ask you: what else could you possibly want? eBay is a growing business that&rsquo;s incorporating AI functionalities into its platform. Plus, eBay is very reasonably valued.



Additionally, eBay shows respect to its investors through dividend payments and share buybacks. The company gives you everything but the kitchen sink, so what are you waiting for? This is a rare and amazing opportunity, so consider adding eBay stock to your portfolio .



On the date of publication, David Moadel&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>David Moadel has provided compelling content &ndash; and crossed the occasional line &ndash; on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/ebay-stock-analysis-there-are-tons-of-reasons-to-buy-this-perfect-pick-now/">EBAY Stock Analysis: There Are Tons of Reasons to Buy This Perfect Pick Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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