Market Overview
US stocks had a mixed performance on Thursday, as investors weighed the latest earnings reports from tech giants.
Sector Performance
* Technology: Nasdaq Composite (^IXIC) struggled to gain momentum, weighed down by Nvidia (NVDA) and Microsoft (MSFT) declines.
* Financials: Mastercard (MA) surged to record highs on strong earnings, while Visa (V) is expected to report later in the day.
* Industrials: Dow Jones Industrial Average (^DJI) held near the flatline, with Apple (AAPL) scheduled to release earnings after the bell.
* Utilities: Utilities performed modestly, with NQ gaining 0.55% and ES rising 0.57%.
Earnings in Focus
* Microsoft (MSFT): Shares fell 6% after reporting weaker-than-expected Azure growth.
* Tesla (TSLA): Stock rose despite an earnings miss, as investors were encouraged by the company's commitment to return to growth in 2025.
* Meta (META): Quarterly earnings beat boosted its stock price, offsetting concerns over AI investments.
* Comcast (CMCSA): Stock declined over 10% after reporting a decline in broadband customers and disappointing Peacock subscriber numbers.
Economic Data
* Gross Domestic Product (GDP): The US economy grew at an annualized rate of 2.3% in the fourth quarter, below the expected 2.6%.
* Pending Home Sales Index: Activity slowed down in December due to higher mortgage rates.
Other News
* American Airlines CEO expressed condolences following a fatal crash involving an American passenger jet and a US military helicopter.
* Oracle debuted new AI agents for manufacturers.
* UPS stock sank 15% after announcing a reduction in deliveries for Amazon and scaling back revenue forecasts.
* Goldman Sachs maintains a rate-cut mindset, despite the Fed's hold on interest rates.