The S&P 500 index fell 0.37% to 6,556.37 as oil prices climbed above $104 for Brent and $92 for WTI, driven by ongoing tensions in Iran. Despite the drop, futures rose 0.6%, reflecting optimism from reports of a U.S. peace proposal to Iran. Investors remain cautious, monitoring inflation data and Federal Reserve policy amid geopolitical risks. Corporate earnings from Chewy and Paychex also draw attention ahead of market open.
Chewy reported a 7.7% year-over-year net sales increase in Q1, generating $71 million in free cash flow and achieving record profitability. The company added nearly 200,000 net customers despite facing consumer headwinds. While Chewy's guidance antic...
Chewy's stock was upgraded from Hold to Buy following a 40% decline and compressed earnings multiples. Despite some earnings estimate misses, Chewy has shown consistent revenue and profit growth. The pet products market remains strong, supporting con...
