US stocks ended mixed on Thursday as investors rode a roller coaster of corporate earnings and intriguing trade news. The market saw a blend of highs and lows that kept traders on their toes.
The Dow Jones Industrial Average slipped 0.7% to 44,693.91, while the S&P 500 inched up 0.07% to 6,363.35, and the Nasdaq Composite rose slightly by 0.18% to 21,057.96. Out of the 11 major S&P 500 sectors, eight closed in the red, with consumer discretionary and materials losing 1.23% and 0.75% respectively. On the brighter side, energy and technology sectors posted gains of 0.71% and 0.67%.
Tech stocks brought extra drama to the day. Tesla shares plunged 8.2% after missing quarterly earnings expectations, while Alphabet boosted investor confidence with a 0.88% gain after surpassing estimates and announcing plans to increase capital expenditures. Meanwhile, tech giants like Nvidia, Microsoft, Amazon, and Broadcom all enjoyed gains of over 1%, even as Apple saw a slight dip.
Adding to the mixed signals, trade developments played a key role in calming market nerves. US President Donald Trump secured trade deals with Japan, Indonesia, and the Philippines, with progress noted in discussions with the European Union and other partners. Although this has eased some worries, analysts caution that any new tariffs could trigger inflation and pressure corporate margins.
Other significant movers included IBM, which fell 7.62% despite beating profit expectations, and American Airlines, which experienced a steep 9.62% drop. As the market grapples with robust earnings reports and eyes the August 1 tariff deadline, the overall mood remains dynamic—much like a thrilling ride on a roller coaster! 🎢🚀
Reference(s):
cgtn.com
