Major US indices take a breather ahead of the PCE data tomorrow

The major US indices are taking a breather ahead of the key PCE data tomorrow. The NASDAQ and the Russell 2000 were the weakest of the major indices.

The final numbers are showing:

• Dow industrial average -23.14 points or -0.06% at 38949.30
• S&P index -8.39 points or -0.17% at 5069.78
• NASDAQ index -87.57 points or -0.55% at 15947.73.

The small-cap Russell 2000 index also declined with a fall of -15.80 points or -0.77% at 2040.306

All three major indices could not get in the black today. The best that the Dow Industrial Average could do was a decline of -15.96 points, while the S&P high was -0.80 points. The NASDAQ index high was still -31.74 points in the red.

Recall from yesterday, the NASDAQ index, then 11 points of its all-time high close at 16057.44. Although the price has extended above that close back on February 12 and again on February 22 and February 23, the price has not been able to close above that level.

After the close, Paramount Global (PARA) announced:

• EPS of $0.04 versus expected $-0.01 (BEAT).
• Revenues came in at $7.64 billion versus expected $7.84 billion (MISS)
• Shares are trading down seven cents or -0.63%

Salesforce earnings (CRM)

• EPS $2.29 versus expected $2.26 (BEAT)
• Revenues $9.29 billion versus expected $9.22 billion (BEAT)
• Sees 2025 revenues $37.7 billion – $38.0 billion versus expected $38.6 billion
• Shares are trading at $284.75 or $-15.34 or -5.10% after the clause

Snowflake earnings (SNOW):

• EPS $0.35 versus $0.18 expected (BEAT)
• Revenues $774.7 million versus expected $760.4 million (BEAT)
• Sees Q1 product revenues $745 – $750 million versus expected $769.59
• Snowflake shares are trading sharply lower at down $-51.00 or -22.3%

Monster Beverage (MNST)

• EPS $0.35 versus $0.38 expected (MISS)
• Revenues $1.73 billion versus $1.75 billion expected (MISS)
• Shares are trading down -96% or -1.72% at $54.89

Tomorrow Celsius will announce their earnings. The new energy drink is in competition with the much larger Monster Beverage. Are Monsters decline directly attributed to Celcius’s gains?