US Stocks Close in the Green on Thursday
Market Highlights
* The S&P 500 (^GSPC) set a fresh record close, securing its first all-time closing high of 2025.
* The Dow Jones Industrial Average (^DJI) gained 0.9%, unable to secure its own record.
* The Nasdaq Composite (^IXIC) recovered from earlier losses to close about 0.2% higher.
President Trump's Remarks from Davos
Investors paid close attention to President Trump's speech at the World Economic Forum in Davos. Key points included:
* Demanding an immediate drop in interest rates.
* Asking OPEC to lower the price of oil.
* Warning companies that he will impose tariffs on those not manufacturing in the United States.
Earnings and Economic Data
* Netflix's earnings fueled anticipation for the upcoming tech earnings flurry.
* US jobless claims increased by 6,000 to 223,000.
Sector Highlights
* Technology: Nvidia shares remained flat, impacted by uncertainty in chip demand, weighing on related stocks.
* Healthcare: UnitedHealth Group announced a promotion within its leadership team.
* Finance: President Trump confronted Bank of America over claims of de-banking conservatives.
* Media: CNN announced layoffs as part of its digital transformation.
Trending Tickers
* Electronic Arts (EA): Stock fell 15% on missed bookings expectations.
* GE Aerospace (GE): Shares surged 7% after surpassing earnings and revenue estimates.
* American Airlines (AAL): Stock dropped after forecasting a surprise first-quarter loss.
Other Notable News
* Homebuyers are backing out of deals at a record rate due to high mortgage rates and housing costs.
* Oil prices fell after President Trump's comments on requesting OPEC to lower crude prices.
* Bitcoin rose after Republican Senator Cynthia Lummis expressed support for digital assets.
* HPE CEO Antonio Neri raised concerns about the potential for AI to become out of control.