For the second quarter, Uber projects gross bookings between $45.75 billion and $47.25 billion, representing 16% to 20% growth year over year on a constant currency basis.
Utility stocks hit new highs amid trade policy uncertainty, with Utilities Select Sector SPDR Fund up 6.3% YTD. Constellation Energy Corp. jumps 11.87%.
Wall Street kicked off the week with a cautious tone, as major stock indices hovered near the flatline by midday in New York. Investors digested fresh signs of inflationary pressure in the services sector, raising doubts about near-term rate cuts and weighing on risk appetite.
Prices broke down on Monday, reversed on Tuesday, and ultimately ended the week strong. In addition, new NYSE 52-week lows have remained at relatively harmless levels for about two weeks.
In a post on Truth Social, President Donald Trump said the Boeing dispute was a minor example of broader harm caused by China, which he also blamed for fueling America’s fentanyl crisis via Mexico and Canada.
The company reaffirmed its full-year revenue forecast of $36 billion to $37 billion, stating that the outlook already includes a projected cost impact of $300 million to $400 million from recently imposed tariffs.
CEO Larry Culp stated that the company is responding to current macroeconomic conditions by implementing strategic measures, including cost controls and utilizing available trade programs.
