US Stock Market Overview
US stock markets exhibited mixed results on Thursday as investors eagerly anticipated remarks from President Donald Trump at the World Economic Forum in Davos.
Major Indices
* The S&P 500 (^GSPC) rose slightly around 0.2%, approaching record highs.
* The Dow Jones Industrial Average (^DJI) gained approximately 0.6%, nearing record territory.
* The Nasdaq Composite (^IXIC) declined by 0.3% as technology stocks faced challenges.
Trump's Speech at Davos
* Trump called for immediate interest rate reductions in the US and worldwide.
* He urged OPEC to lower oil prices and cautioned that the Russia-Ukraine conflict could end if prices fell.
* He warned companies to pay tariffs if they did not manufacture in the US.
Chip Stocks Fall
* Chip stocks witnessed a decline after Nvidia's supplier, SK Hynix, expressed concerns about semiconductor demand.
* Nvidia (NVDA), Arm (ARM), and Micron (MU) shares dropped as a result.
Other Notable Market News
* Electronic Arts (EA) stock plunged by over 15% after the company announced weaker-than-expected bookings.
* GE Aerospace (GE) shares surged about 7% after surpassing earnings and revenue forecasts.
* American Airlines (AAL) stock fell by approximately 8% due to a surprise projected loss for the first quarter.
* US jobless claims increased by 6,000 to 223,000.