U.S. Stocks Bounce Back as Amazon Earnings Loom
U.S. stocks gained ground on Thursday as investors awaited the release of Amazon's (AMZN) quarterly results and assessed the ongoing earnings season.
Market Highlights:
* Dow Jones Industrial Average (^DJI): +0.2%
* S&P 500 (^GSPC): +0.3%
* Nasdaq Composite (^IXIC): +0.1%
Key Movers:
* Amazon (AMZN): Investors eagerly anticipate the e-commerce giant's earnings report due after the closing bell.
* Ford (F): Shares dipped despite beating quarterly earnings estimates due to muted full-year guidance and concerns about the impact of tariffs.
* Peloton (PTON): Stock surged 23% after posting better-than-expected sales, boosted by a partnership with Costco (COST).
* Qualcomm (QCOM): Shares fell 5% after the chip maker's guidance for its licensing business missed Wall Street expectations.
Earnings Season and Tariffs:
* Company earnings continue to drive market sentiment, with investors seeking insights into AI demand and the impact of potential tariffs.
* The easing of tariff jitters earlier in the week provided a boost to stocks, but markets remain cautious as they await further earnings updates.
Economic Data and Central Banks:
* Jobless claims rose last week, raising concerns about inflation and the Fed's potential policy response.
* Treasury Secretary Scott Bessent's comments suggest President Trump's focus on lower Treasury yields rather than Fed rate cuts.
* The Bank of England (BOE) cut interest rates, contributing to the positive sentiment in European stocks.
Other Notable News:
* Honeywell (HON) announced plans to split into three listed companies.
* Eli Lilly (LLY) reported mixed earnings, raising its 2025 guidance.
* The Elon Musk-Sam Altman feud escalates into a legal battle.
Earnings Calendar:
* Today: Amazon (AMZN), Eli Lilly (LLY), Affirm (AFRM)
* Friday: ExxonMobil (XOM), Chevron (CVX), Walgreens Boots Alliance (WBA)