Debt deal, Nvidia stock soars, Costco earnings: Top stories
Yahoo Finance Live anchors Akiko Fujita and Seana Smith recap the top stories of the day including the debt ceiling dilemma, Nvidia shares soaring after its Q1 earnings report, and Costo Q3 earnings missing analyst estimates.
- It is closing time here at Yahoo Finance. Time to get you caught up on some of the biggest stories of the day. The Dow ending the day pretty flat as investors wait to see if there is some kind of deal on the debt ceiling before the long holiday weekend. The deal impasse has gotten so bad that ratings agency Fitch warned it may downgrade the US credit rating.
- It was a huge day for NVIDIA shares ending the day 24% higher after a big first-quarter earnings report and upbeat guidance, all thanks to AI. It led to a number of analysts raising their price targets on the stock and pushing that stock towards a trillion-dollar market cap.
- And finally, COSTCO's third-quarter results missed analyst estimates. The retailer's adjusted earnings came in at $2.93 a share compared to an estimated $3.30 the street was expecting. Same-store sales also came in lighter than expected as consumers pulled back spending on big-ticket items.