US Stock Market Update: Amazon's Earnings in Focus
US stocks exhibited mixed movement on Thursday, as investors awaited Amazon's quarterly results and assessed the ongoing earnings season amidst President Trump's policy overhaul.
Major Indices
* Dow Jones Industrial Average (^DJI): Declined 0.3%
* S&P 500 (^GSPC): Rose over 0.3%
* Nasdaq Composite (^IXIC): Gained 0.5%
Tariff Jitters
Earlier tariff concerns may have eased, but markets are closely monitoring company earnings for any warnings that could indicate a slowdown in the economy.
Tech and Chip Sector Earnings
Tech and chip-related earnings are being scrutinized for insights into AI demand. Amazon's report was highly anticipated after Alphabet's (GOOG, GOOGL) cloud sales fell short of expectations. Salesforce (CRM) and Honeywell (HON) also announced management changes and a conglomerate split, respectively.
Fed Policy
Treasury Secretary Scott Bessent alleviated pressure on the Federal Reserve, indicating that Trump desires lower 10-year Treasury yields to reduce borrowing costs rather than pushing for lower interest rates.
Jobless Claims
Jobless claims increased slightly to 219,000 last week, exceeding estimates. This data point will be closely watched ahead of Friday's monthly jobs report, as investors seek clues about the Fed's decision-making in the face of inflation concerns.
Individual Stock Highlights
* Amazon (AMZN): Disappointed with revenue forecast, leading to a stock decline.
* Nvidia (NVDA): Shares rose over 3% as stocks rallied.
* Ford (F): Shares fell over 7% after muted full-year guidance.
* Skyworks Solutions (SWKS): Stock plummeted over 23% as Apple turned to a competitor for iPhone components.
* Roblox (RBLX): Shares plunged 13% after missing key quarterly metrics.
* Tesla (TSLA): Continued losses, down over 2% amid concerns related to CEO Elon Musk's political involvement.