U.S. Stocks Mixed Ahead of Amazon Earnings
Market Summary
U.S. stocks traded mixed on Thursday, as investors anticipated Amazon's quarterly results and assessed the ongoing earnings season amidst President Trump's policy agenda.
Major Indexes
* Dow Jones Industrial Average (^DJI): -0.3%
* S&P 500 (^GSPC): +0.3%
* Nasdaq Composite (^IXIC): +0.5%
Company News
* Amazon (AMZN): Investors eagerly awaited Amazon's quarterly report, following Alphabet's (GOOG, GOOGL) cloud sales miss.
* Salesforce (CRM): Stock slipped after management changes announcement.
* Honeywell (HON): Shares fell after the conglomerate confirmed its split into three companies.
Macroeconomic Data
* Jobless claims rose to 219,000 last week, slightly above estimates.
* Treasury Secretary Scott Bessent eased pressure on the Federal Reserve, indicating Trump's intention to lower 10-year Treasury yields.
Sector Focus
* AI-related Companies: Demand for AI services is driving stock rallies for chipmakers and tech giants.
* Homebuilders: A potential tariff on lumber imports from Canada could increase costs and impact margins.
* Labor Market: Challenges in finding new jobs are evident in elevated continuing weekly unemployment claims.
International Markets
* Europe: Stocks rose, led by the FTSE 100 after the Bank of England's interest-rate cut.
* Oil Prices: Prices rebounded after Saudi Arabia announced a March oil price increase.
Notable Earnings:
* Ford (F): Beat earnings and revenue estimates but issued muted full-year guidance.
* Skyworks Solutions (SWKS): Stock plummeted over 23% due to lost business with Apple.
* Roblox (RBLX): Shares tumbled 13% after missing key quarterly metrics.
* Tesla (TSLA): Continued losses, down over 2%.
* Peloton (PTON): Soared 23% on better-than-expected sales.