Stock Market Roundup for February 6, 2025
US Stocks
US stocks experienced mixed trading on Thursday, with the Dow Jones Industrial Average (^DJI) slipping 0.3%, the S&P 500 (^GSPC) advancing 0.3%, and the Nasdaq Composite (^IXIC) rising 0.5%. Economic concerns, including tariff jitters and unemployment data, tempered investor optimism.
Earnings Season in Focus
Earnings season remained in full swing, with notable reports from Amazon (AMZN), Salesforce (CRM), and Honeywell (HON) attracting attention. Amazon's earnings beat revenue estimates but disappointed on guidance, while Salesforce announced management changes. Honeywell confirmed plans to split into three separate companies.
Tech Sector Scrutiny
Investors closely monitored tech-related earnings for signals on AI demand. Arm Holdings (ARM) and Qualcomm (QCOM) reported mixed results, indicating that AI's impact on consumer demand may not be immediate.
Government Policy Impact
President Donald Trump's proposed tariff on Treasury Secretary Scott Bessent aimed to ease borrowing costs. However, Ford (F) cautioned that a 25% tariff on imports could hurt its industry.
Economic Indicators
Jobless claims rose to 219,000 last week, slightly above estimates. This data suggests ongoing challenges for job seekers in an increasingly competitive labor market.
Other Notable News
* Apple supplier Skyworks (SWKS) plummeted after reports of losing business to a competitor.
* Tariff threats on lumber raised concerns for homebuilders' margins.
* Roblox (RBLX) faced setbacks after falling short of key quarterly metrics.
* Peloton (PTON) surged 23% on strong sales driven by its partnership with Costco (COST).
* Europe stocks saw gains after the Bank of England cut interest rates.
Disclaimer: This information is for informational purposes only and does not constitute financial advice. Consult with a qualified financial professional before making any investment decisions.