Close Menu
Finance

Stock prices remain steady as the S&P 500 index approaches the 5,000 mark

adminBy No Comments5 Mins Read0 Views


U.S. stocks were solid on Thursday, taking a lull from earlier record highs as investors cheered chipmaker Arm's outlook and looked for fresh impetus in the latest company results.

The S&P 500 (^GSPC) hovered near the flatline after the major benchmark ended just a few points away from reaching 5,000 for the first time in history. The Dow Jones Industrial Average (^DJI) started slightly higher but has since fallen about 0.3%, while the tech-heavy Nasdaq (^IXIC) rose 0.3%.

Stocks rose as strong economic data and upbeat earnings lifted spirits on Wall Street, helping the benchmark S&P 500 move closer to a key psychological level. But some investors question whether the gains can be sustained, given the concentration of giant stocks that are driving the rally.

ARM stock soared more than 55% on the strong sales outlook, raising hopes that AI and technology will continue to fuel the market. The chipmaker issued a surprisingly bullish forecast based on its expansion into new areas. Disney (DIS) stock was also buoyed, with shares up more than 11% as investors cheered the company's outperformance and deal with Taylor Swift and Fortnite maker Epic Games. gave.

Meanwhile, traders scaled back bets on a March interest rate cut following warnings from central bank officials. Richmond Fed President Tom Barkin is expected to make further comments on Thursday, but the subsequent weekly jobless claims report could also move the needle on policy expectations given December's blockbuster jobs report.

read more: Impact of Fed interest rate decisions on bank accounts, CDs, loans, and credit cards

Elsewhere, deflation fears in China were reignited after data showed consumer prices in the world's second-largest economy suffered their biggest fall since 2009 amid the global financial crisis.

Investors were also spooked by warnings from Danish shipping giant Maersk (AMKBY) about a slowdown in cargo shipments. The company's stock fell 15% after the company announced it would suspend stock buybacks.

live4 updates

  • Stocks are mixed, Nasdaq hits 52-week high

    Stocks were mixed Thursday. Shares of Marvell (MRVL), Global Foundries (GFS), and Lululemon (LULU) all rose more than 3%, and the Nasdaq Composite Index (^IXIC) hit a 52-week high by 11:45 a.m. ET. I added.

    The S&P 500 (^GSPC) was trading just below its flatline after the major index ended just a few points short of the 5,000 level for the first time in history on Wednesday.

    The Dow Jones Industrial Average (^DJI) opened marginally higher, but was down 0.3% in morning trading.

  • NYCB stock swings amid financial institutions' efforts to boost confidence

    New York Community Bank (NYCB) stock was volatile Thursday morning as investors took stock of the bank's latest efforts to boost confidence.

    As Yahoo Finance's David Hollerith points out, the bank shared a financial update on Wednesday, announced the appointment of Alessandro “Sandro” DiNello as its new executive chairman, and announced an announcement aimed at boosting confidence. I had a phone conversation with List.

    “We're seeing virtually no deposit outflows from our branches,” Dinero told analysts Wednesday. The former bank examiner said “building trust” with Wall Street about NYCB's deposits and liquidity will be the bank's top priority going forward.

    Shares have fallen as much as 7% as of Thursday's open.Shares have fallen about 56% since late January, when the lender cut its dividend and posted an unexpected loss.

    Please see here for the detail.

  • Crude oil rises 2% due to tensions in the Middle East, US production forecast revised downward

    Oil futures opened higher on Thursday after the US killed a militant commander in Iraq and Israel rejected a Hamas ceasefire offer.

    West Texas Intermediate (CL=F) rose about 2% to over $75 a barrel, and Brent futures (BZ=F) rose about the same amount to over $80 a barrel.

    “Geopolitical Red Sea risks are returning to oil,” said Dennis Kistler, senior vice president at BOK Financial.

    Palestinian-backed Houthi rebels have targeted attacks on ships, prompting major cargo companies to avoid the Red Sea region, which connects to the Suez Canal, a key route between Asia and Europe.

    Recent data from the Energy Information Administration (EIA) showed that both distillate and gasoline inventories are decreasing. The sharp decline indicates increased demand, helping to maintain upward pressure on oil prices.

    The EIA also revised down its 2024 domestic production forecast, predicting that it will not reach the record level of December 2023 until February 2025.

  • Stocks little changed as S&P approaches 5,000 landmark

    Stocks opened almost flat on Thursday after hitting new highs in the previous session.

    The S&P 500 (^GSPC) fell nearly 0.1% after the major benchmark ended just a few points short of the 5,000 level for the first time in history.

    The Dow Jones Industrial Average (^DJI) started the day slightly higher, but the tech-heavy Nasdaq (^IXIC) remained flat.

    Disney (DIS) stock rose as much as % after the company reported a narrower-than-expected loss in its entertainment division.

    The entertainment company also announced that a new over-the-top (OTT) ESPN streaming service will launch in fall 2025.



Source link

Share.

Related Posts

Leave A Reply