Stock Market News: 2 Cloud Contenders Reported Earnings, But Only 1 Is Soaring
Stocks remained in a holding pattern on Tuesday morning, with investors still torn about what the future is likely to bring. Earnings reports for the first quarter haven't been as bad as many had feared, but there's almost no visibility about what the second quarter is likely to bring, and that has some market participants reluctant to put too much faith in the economy's resiliency in the face of the coronavirus pandemic. Just before 11 a.m. EDT today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 36 points to 24,258. The S&P 500 (SNPINDEX: ^GSPC) fell 1 point to 2,929, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained ground, rising 16 points to 9,209.
Many investors have turned to cloud computing stocks as a refuge from the coronavirus bear market, and there have been a lot of success stories in the space. Companies like Datadog (NASDAQ: DDOG) and Eventbrite (NYSE: EB) have taken different paths toward trying to tap the power of the cloud, but they've both brought innovative solutions to their respective industries. Unfortunately, only one of those companies gave investors the good news they'd hoped to see in its latest earnings report.
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Source Fool.com
