US: Stocks mostly rise after mixed round of earnings
WALL Street stocks mostly rose on Thursday, digesting a round of mixed corporate earnings as markets looked ahead to the January US employment report.
Analysts have pointed to an underlying stock buying impulse among investors, reflected in the market’s ability to bounce following bearish news.
“The inability to fall is a very bullish event,” said Adam Sarhan of 50 Park Investments, who pointed to the brief selloff in tech names after the emergence of Chinese AI standout DeepSeek raised questions about the need for hefty artificial intelligence investments.
The Dow Jones Industrial Average finished down 0.3 per cent at 44,747.63.
The broad-based S&P 500 gained 0.4 per cent to 6,083.57, while the tech-rich Nasdaq Composite Index gained 0.5 per cent to 19,791.99.
While the stock market remains concerned about President Trump’s trade policy, the newly installed White House’s actions have been less impactful than feared so far, Sarhan said.
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Among individual companies, Honeywell International fell 5.6 per cent as the conglomerate announced it will separate its automation and aerospace business and split up into three publicly listed companies. The company had previously announced plans to spin off its advanced materials unit.
Ford slumped 7.4 per cent despite reporting better than expected earnings. The company issued a disappointing 2025 forecast based on a weaker outlook for car prices, while alluding to uncertainty surrounding the Trump administration’s trade stance and policies on electric vehicles.
But Hershey jumped 4.4 per cent after reporting better than expected profits following a nearly nine percent rise in quarterly revenues. The company described lofty cocoa prices as a challenge, but pledged to focus on executing its “transformation and productivity” programs.
Eli Lilly gained 3.4 per cent as the drugmaker announced a US$15 billion share repurchase program and a 15 per cent increase in its dividend, pointing to higher sales for diabetes drug Mounjaro. AFP
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