Indices remain cautious ahead of earnings reports, weaker-than-expected employment data and comments from monetary authorities on rate cuts.
The wall street indices are listed with few changes this Thursday, January 8, with the S&P 500 close to 5,000 pointsas investors weighed the earnings reports, employment data less than expected and comments from monetary authorities about rate cuts.
In that context, the Dow Jones falls 71.21 units (-0.2%) to 38,606.15 points while the S&P 500 it does so by 5.24 units (-0.1%) to 4,989.82 points. Meanwhile, the Nasdaq Composite It advances 19.37 units (+0.1%) to 15,776.01 points.
On Wednesday, the benchmark S&P 500 set all-time highs, approaching 5,000 pointsas investors left behind uncertainty about the timing of interest rate cuts and nervousness about the stability of some regional banks.
He Nasdaq is 2.8% away from exceeding its all-time high reached in November 2021driven by the continued rally in technology and related stocks.
More than half of S&P 500 companies that reported quarterly results beat expectations
Walt Disney gains 13%, boosting communication services sector of the S&P 500after the media giant reported earnings that beat market expectations, an investment in gaming and plans to launch an ESPN streaming service in 2025.
The company also announced a $3 billion share buyback plan and a 50% dividend increase.
Spirit Airlines It advances almost 3%, as it expects to operate with positive cash flow from the second quarter, after registering smaller losses than expected.
More than half of the companies in the S&P 500 have presented quarterly results, with 81.2% exceeding expectationscompared to a long-term average of 67%, according to data from LSEG from earlier this week.
US employment data was lower than expected
On the economic data front, a Department of Labor report showed that Americans who applied for state unemployment benefits fell to 218,000 during the week ending February 3compared to economists’ forecast of 220,000.
The head of the Richmond Fed, Thomas Barkinsaid the recent stronger-than-expected economic data may be due in part to the difficulty of making precise seasonal adjustments around the start of a new year.
Source: Ambito
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