Extended trading saw significant movements in various stocks following earnings reports. Airbnb fell 13% due to missed estimates and slowing demand. Reddit dipped despite beating expectations. Wynn Resorts and Rivian showed mixed results. Super Micro Computer dropped on earnings miss, while Lumen Technologies surged 77% on revenue beat. Instacart advanced on strong performance, and Tripadvisor declined following a revenue miss. These after-hours movements reflect the market’s immediate reactions to companies’ financial results and outlooks.
API Data Shows Surprise Build in U.S. Oil Stocks, EIA Report Awaited
Oil prices dipped in early Asian trading after API data revealed unexpected increases in U.S. crude and gasoline inventories, countering global supply concerns. Brent and WTI futures fell slightly, reversing gains from the previous session. The API reported increases in crude, gasoline, and distillate stocks, contrary to analyst expectations. Markets now await the EIA’s official inventory data release. Despite recent price drops due to recession fears, Middle East tensions and production issues in Libya continue to support oil prices.
