US Stocks Mixed Ahead of Amazon Earnings
US stocks traded in a mixed pattern on Thursday as investors awaited quarterly results from e-commerce giant Amazon (AMZN).
Dow Jones Industrial Average (DJI): -0.3%
S&P 500 (GSPC): +0.3%
Nasdaq Composite (IXIC): +0.5%
Traders Eye Earnings and Tech Sector
Investors closely observed incoming earnings reports, particularly those from Amazon, which released its results after the bell. The Dow Jones Industrial Average (DJI) declined by 0.3%, while the S&P 500 (GSPC) gained 0.3%. The Nasdaq Composite (IXIC) rose 0.5%, extending a two-day winning streak.
Treasury Yields Decline
US Treasury Secretary Scott Bessent alleviated pressure on the Federal Reserve by indicating that President Trump prefers to lower 10-year Treasury yields to reduce borrowing costs, rather than pushing for lower interest rates. The benchmark yield (TNX) traded near its lowest levels since December, around 4.43%.
Economic Indicators
Jobless claims rose to 219,000 last week, slightly above estimates of 213,000. The data precedes the monthly jobs report on Friday, as investors monitor clues for the Fed's policy decision amid rising inflation concerns.
Corporate News
* Amazon (AMZN): Projected guidance for the first quarter was weaker than anticipated, resulting in a decline in stock price.
* Salesforce (CRM): Shares fell after the software giant announced management changes.
* Honeywell (HON): Stock dropped after the conglomerate confirmed a split into three companies.
* Ford (F): Shares fell more than 7% on subdued guidance for 2025.
* Skyworks Solutions (SWKS): Stock plummeted by 23% as the company lost business with Apple to a competitor.
* Peloton (PTON): Shares soared by 23% after the fitness equipment maker reported better-than-expected sales.
* Roblox (RBLX): Stock tumbled by 13% due to missed quarterly metrics.
* Tesla (TSLA): Stock declined by 2%, extending losses for a second consecutive day.
Stay tuned for ongoing coverage and analysis of market trends.