U.S. stocks generally rose on Thursday, following President Donald Trump’s remarks at Davos and corporate earnings results.
At the WEF in Davos, Switzerland, President Trump said he was working to reverse inflation, cut taxes and expand fossil fuel production in the United States, but he did not elaborate on his proposed tariffs.
At 11:57 a.m. ET, the Dow Jones Industrial Average rose 253.34 points, or 0.58%, to $44,411.02, the S&P 500 rose 8.71 points, or 0.14%, to $6,094.99, and the Nasdaq Composite Index rose 8.71 points, or 0.14%, to $6,094.99. It fell by 38.86 points (0.19%). , 19,970.48.
As of 9:49 a.m. ET, the Dow Jones Industrial Average rose 77.68 points, or 0.18%, to 44,234.41, the S&P 500 fell 3.29 points, or 0.05%, to 6,083.25, and the Nasdaq Composite Index 72.01 points. (0.36%) decline. , 19,937.14.
At the opening bell, the Dow Jones Industrial Average was down 43.2 points, or 0.10%, at $44,113.55. The S&P 500 fell 10.1 points, or 0.17 percent, to 6,076.32, and the Nasdaq Composite Index fell 102.4 points, or 0.51 percent, to 19,906.988.
winners and losers
GE Aerospace shares rose 8.5% after the company reported higher profits in the December quarter.
American Airlines shares fell 7.4% despite reporting strong quarterly profits.
Shares of artificial intelligence chip giant Nvidia fell 1.4%, and Microsoft’s stock fell 0.6%.
JPMorgan Chase & Co. and Goldman Sachs each rose more than 1%.
Electronic Arts shares plunged 15% after the video game maker cited slowing revenue.
bond
In the bond market, the 10-year Treasury yield rose to 4.64% from 4.61% late Wednesday. The two-year bond yield was held at 4.30%.
crude oil
Oil prices were steady around $79 a barrel after an industry report showed U.S. crude inventories increased for the first time since mid-November.
U.S. crude oil inventories rose by 1 million barrels last week, according to a report by the American Petroleum Institute, and fuel inventories also surged, according to documents obtained by Bloomberg.
Bullion
Gold prices fell on Thursday after hitting a nearly three-month high in the previous session.
Spot gold was down 0.4% at $2,744.49 an ounce at 1246 GMT. US gold futures fell 0.7% to $2,751.20. Spot silver fell 1.5% to $30.33.
