US stocks were mixed on Thursday in anticipation of Amazon’s (AMZN) quarterly results, as investors assessed the earnings season so far and eyed President Donald Trump’s fast-moving policy overhaul.
The Dow Jones Industrial Average (^DJI) fell 0.3%, while the S&P 500 (^GSPC) nudged up around 0.3%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.3% on the heels of two winning days in a row for the major gauges.
The tariff jitters that shook stocks earlier in the week may have eased, but markets are tracking incoming earnings for any company warnings. At the same time, tech and chip-related results are being scrutinized for signals about the strength of AI demand.
Adding to the gloom, Ford (F) shares slid despite a quarterly earnings beat after it put out muted full-year guidance, pointing to tariffs as a headwind.
Peloton’s (PTON) stock soared after the fitness equipment maker posted better-than-expected sales, thanks in part to its seasonal partnership with Costco (COST). Meanwhile, ConocoPhillips (COP) beat quarterly profit estimates amid higher oil and gas production.
In economic news, jobless claims jumped to 219,000 last week, slightly above estimates of 213,000. The reading came ahead of the expected monthly jobs report on Friday as investors search for clues to Fed decision making amid the risk of an uptick in inflation.
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Arm, Qualcomm stocks fall as investors wait for AI to drive new demand for smartphones, PCs
Arm Holdings (ARM) and Qualcomm (QCOM) stocks each fell more than 4% Thursday as their quarterly results showed signs the AI boom isn’t yet driving a surge in demand for the consumer devices powered by the companies’ chips.
Despite their above-forecast quarterly earnings results the day prior, investors signaled they aren’t so patiently waiting to see if artificial intelligence will drive a new wave of demand for consumer devices that rely on the companies’ chips.
President Trump’s back-and-forth trade policy has created added uncertainty among investors still searching for clarity on the Federal Reserve’s next move, with tariffs muddying the inflation outlook.
But some on Wall Street think the labor market, not inflation, is the place to look for better clues on what could push the Fed to cut rates later this year. Just look at what happened in September, when the central bank delivered a jumbo 50 basis point cut, largely to protect the jobs market after the unemployment rate unexpectedly jumped.
“The number one risk remains an inflection higher in the unemployment rate, which is the key macro data for the foreseeable future,” Citi analyst Stuart Kaiser wrote in reaction to last week’s Fed decision.
Roblox tumbles 13% as key metrics disappoint Wall Street
Roblox (RBLX) stock tumbled as much as 30% before paring losses on Thursday, falling after the video game platform missed key quarterly metrics.
The company’s daily active users for the fourth quarter came in at 85.3 million, short of estimates for 88.39 million. Hours engaged also came in light, at 18.7 billion versus expectations for 19.42 billion.
The stock pared losses in early trading, declining 13% by 10:40 a.m. ET.
Today at 3:29 PM UTC
Tesla stock extends losses, down more than 2%
Tesla stock (TSLA) sank more than 2% on Thursday and was on track to extend losses for a second day in a row.
The declines from Tesla on Wednesday came after news its Germany sales plunged 59% in January, adding to concerns that CEO Elon Musk’s involvement in politics there could be turning off potential buyers.
Tesla’s stock is down more than 9% year to date but is still up roughly 45% since Election Day on Nov. 5 as Musk backs President Donald Trump.
The bike maker’s stock soared 23% as quarterly sales came in better than expected, thanks in part to its seasonal partnership with Costco (COST).
“Our new seasonal partnership with Costco drove more Bike+ unit sales than any other third-party retail partner during Q2,” the company said in a letter to shareholders.
Peloton’s operating expenses were down 25% year over year. The company raised its full-year guidance range for adjusted EBITDA and free cash flow.
Shares of Qualcomm were down 5% on Thursday after the chipmaker’s quarterly earnings came in better than expected. But guidance for its licensing business disappointed Wall Street.
Qualcomm (QCOM) said it expected revenue from its licensing business to come in between $1.25 billion and $1.45 billion for the second quarter, compared to analyst expectations of $1.4 billion.
Shares of Honeywell fell 4% on Thursday after the conglomerate ended months of speculation by announcing it would split into three listed companies: Honeywell Automation, Honeywell Aerospace, and Advanced Materials.
The automation business will stay focused on building that technology, while aerospace is dedicated to tech for plane cockpits. And Advanced Materials covers solutions for sectors such as healthcare.
Today at 2:35 PM UTC
Stocks open higher as earnings pour in
US stocks rose on Thursday as investors digested company earnings and awaited e-commerce giant’s Amazon (AMZN) results due after the bell.
The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) both rose more than 0.2%. The tech-heavy Nasdaq Composite (^IXIC) moved above the flat line on the heels of two winning days in a row for the major gauges.
Shares of Peloton (PTON) soared 23% after the fitness equipment maker posted better-than-expected sales, thanks in part to its seasonal partnership with Costco (COST).
Eli Lilly reports mixed earnings, increases 2025 guidance
Yahoo Finance’s Anjalee Khemlani reports:
Eli Lilly (LLY) reported fourth quarter and full year earnings for 2024 on Thursday, with results largely beating Wall Street estimates, sending its stock slightly higher in pre-market trading. But the company missed on GLP-1 sales.
The pharma giant has had a few hits and misses in the past few months. Its GLP-1 tirzepatide drugs were removed from the FDA drug shortage list, which shuts down compounding pharmacy knockoffs. But it also revised down its fourth quarter 2024 guidance last month, ahead of the earnings release.
Europe stocks rise, FTSE 100 surges after BOE rate cut
Stocks in Europe and the UK moved higher on Thursday as investors welcomed a wave of earnings reports and an interest-rate cut from the Bank of England.
London’s FTSE 100 index (^FTSE) climbed 1.6% after the UK central bank reduced its key rate as expected to 4.5%, its lowest level in 20 months. The BOE’s first easing in three months came after a cooling in inflation.
Meanwhile, the pan-European Stoxx 600 (^STOXX) benchmark advanced 0.7%, setting its sights on a fresh record close. Germany’s DAX (^GDAXI) rose 0.9%, and the CAC (^FCHI) in Paris moved up 1%.
Oil prices return from losses with Saudi price increase
Oil prices are pulling back from a heavy sell-off after Saudi Arabia’s state oil company set a steep rise in March oil prices.
Futures saw an immediate change in price, with Brent crude futures (BZ=F) coasting up $0.14 to $74.75 a barrel and West Texas Intermediate (CL=F) crude rising $0.18 to $71.21 a barrel.
