U.S. stocks ended a wobbly day mostly lower in what has been a rocky week because of worries coming out of the bond market about the U.S. government's mounting debt. The S&P 500 slipped less than 0.1% Thursday. The Dow Jones Industrial Average was little changed, and the Nasdaq composite rose 0.3%.
Footwear and apparel conglomerate Deckers (NYSE:DECK) announced better-than-expected revenue in Q1 CY2025, with sales up 6.5% year on year to $1.02 billion. On the other hand, next quarter’s revenue guidance of $900 million was less impressive, coming in 2.1% below analysts’ estimates. Its GAAP profit of $1 per share was 65.1% above analysts’ consensus estimates.
Stocks closed flat on Thursday after swinging from losses to gains, while bond activity indicated worries about the U.S.' fiscal future.
CSCO is benefiting from an expanding security and AI portfolio despite challenging macroeconomic conditions and stretched valuation.
While the bond market is typically seen as slower moving, it can pack a heavy punch when it’s alarmed. The House of Representatives approved a bill of tax breaks early Thursday that could add trillions of dollars to the federal government’s debt, and it’s heading to the Senate next. Worries about the U.S. debt have sent yields jumping in the bond market, which in turn has shaken the stock market.
President Donald Trump’s aggressive effort this week to line up Republicans behind the cornerstone of his economic agenda has coincided with a perilous warning: The bond market gets a vote, too, and is signaling an early “no” on his Big, Beautiful Bill.
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Shares of kitchenware and home goods retailer Williams-Sonoma (NYSE:WSM) fell 5.1% in the afternoon session after the company reported underwhelming first-quarter 2025 results, as it provided full-year guidance which was in line but warned of tariff headwinds and macro uncertainty. In addition, gross margin missed, and store count continued to fall, raising concerns about the health of demand.
- Vanguard is expanding its bond ETF lineup. - VTEL and MUNY are designed to generate tax-exempt income through high-quality fixed income.
Garrett sold off after announcing some of its private equity holders were reducing their stake. Yesterday, shares of Garrett Motion (NASDAQ: GTX) fell 10% after the company announced a big secondary offering. Shares of Garrett Motion are up 9% as of 10:45 a.m. ET, and the stock is now down just 3% over the past five days.