The S&P 500 rose on Thursday, boosted by tech stocks, as investors stepped in to buy after a batch of strong earnings results.
The Dow Jones Industrials finished in the green 144.2 points, after a volatile day, to 46,734.61.
The much broader index jumped 39.04 points to 6,738.44.
The NASDAQ regained 201.40 points to 22,941.80, supported by gains in names such as Amazon, Broadcom and Meta Platforms.
Investors are now continuing to watch earnings releases from key U.S. companies, which many believe could be make-or-break for the current bull market rally.
Honeywell shares led the blue-chip Dow’s rise, advancing 7% Thursday, after it posted better-than-expected quarterly results and lifted its full-year outlook.
American Airlines increased 5% following its narrower-than-expected third-quarter loss and upbeat guidance.
The market was able to overcome what had been sore spots in the trading day. Tesla – which kicked off reports from the “Magnificent Seven” – saw shares come back from earlier losses after reporting mixed third-quarter results.
IBM shares also pared losses after beating Wall Street estimates but reporting in-line software revenue.
Meanwhile, oil prices rose after the Trump administration imposed new sanctions on Russia’s two biggest crude companies due to the country’s “lack of serious commitment to a peace process to end the war in Ukraine.”
More than three-quarters of S&P 500 companies reporting so far have exceeded earnings expectations
Trade remains in focus as well. President Donald Trump said Wednesday evening that his upcoming meeting with Chinese President Xi Jinping is “scheduled,” easing some fears about U.S.-China relations that had put markets under pressure on Wednesday.
Now, investors are continuing to watch earnings releases from the biggest U.S. companies, which many believe could be make-or-break for the current bull market rally.
Tesla – which kicked off reports from the “Magnificent Seven” megacap tech group – saw shares dip more than 1% on the back of mixed third-quarter results. IBM shed 2% after the tech company beat Wall Street estimates but reported in-line software revenue.
Prices for the 10-year Treasury slumped Thursday, raising yields to 4.01% from Wednesday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices gained $3.11 to $61.61 U.S. a barrel.
Gold prices surged $69.60 to $4,135.00 U.S. an ounce.
