“Stock Market Update: Dow Jones and S&P500 Drop Over 1%, UBER Reports Strong Q1 Earnings”

Major US stock indexes register reductions of more than one percentage point.

The Dow Jones is down 1.33% to 33,599 points, while the S&P500 is down 1.32% to 4,113 points. The Nasdaq was also in the red (-1.1% to 12,079 points).

A decidedly positive day for UBER Technologies (+10.6% to $36.21), after the release of financial data for the 1st quarter of 2023, the period closed with revenues and profitability better than the consensus of analysts.

Oil sector stocks are in the red, after the price of crude oil in New York (contract expiring in May 2023) slipped below $72 a barrel. Chevron and ExxonMobil are down 4.63% and 3.83%, respectively.

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