US Stocks See Choppy Start Amidst Economic Data and Earnings
US stock indexes started Friday with little change as investors weighed a slew of economic data and earnings reports, including disappointing retail sales figures.
Market Movement
* Nasdaq Composite (^IXIC) opened up 0.1% after Thursday's gains.
* Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) traded little changed shortly after the opening bell.
Economic Data
* Retail sales dropped 0.9% in January, the largest monthly decline since January 2024.
* Import and export prices index showed continued inflationary pressures.
* Industrial production remained flat in January.
Earnings Reports
* Airbnb (ABNB) exceeded analyst expectations, boosting its stock by over 14% in after-hours trading.
* GameStop (GME) surged nearly 10% in after-hours trading amid rumors of potential bitcoin investments.
* Moderna (MRNA) reported a larger-than-expected loss, sending its shares down.
Other Market News
* President Donald Trump's tariff plans and CHIPS Act review are being closely monitored by investors.
* Coinbase (COIN) posted better-than-expected earnings, but mixed guidance weighed on its stock.
* Tesla (TSLA) has lost a quarter of its value since the post-election rally.
* Chinese leader Xi Jinping invited Alibaba founder Jack Ma and other entrepreneurs to meet top officials.
* Sony Group (SONY) raised its profit forecast, boosting its stock by 11%.