Stock market today: S&P 500, Nasdaq edge higher with Amazon set to highlight earnings rush - chof 360 news

US stocks inched up on Thursday in anticipation of Amazon's (AMZN) quarterly results, as investors assessed the earnings season so far and eyed President Donald Trump's fast-moving policy overhaul.

The Dow Jones Industrial Average (^DJI) hovered near the flat line, while the S&P 500 (^GSPC) nudged up around 0.3%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.3% on the heels of two winning days in a row for the major gauges.

The tariff jitters that shook stocks earlier in the week may have eased, but markets are tracking incoming earnings for any company warnings. At the same time, tech and chip-related results are being scrutinized for signals about the strength of AI demand.

Investors are keenly awaiting Amazon's quarterly report due after the bell, following Alphabet's (GOOG, GOOGL) cloud sales flop. The report will further test the view that Big Tech plans to keep spending big in AI after disappointing results late Wednesday from chip makers Arm (ARM) and Qualcomm (QCOM).

Adding to the gloom, Ford (F) shares slid despite a quarterly earnings beat after it put out muted full-year guidance, pointing to tariffs as a headwind.

Peloton's (PTON) stock soared after the fitness equipment maker posted better-than-expected sales, thanks in part to its seasonal partnership with Costco (COST). Meanwhile, ConocoPhillips (COP) beat quarterly profit estimates amid higher oil and gas production.

Treasury Secretary Scott Bessent relieved some pressure on the Federal Reserve, saying Trump wants to bring down 10-year Treasury yields to ease borrowing costs, rather than push for lower interest rates. The benchmark yield (^TNX) traded around its lowest levels since December, at about 4.43%.

In economic news, jobless claims jumped to 219,000 last week, slightly above estimates of 213,000. Investors look to the reading for clues to Fed decision making amid the risk of an uptick in inflation.

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Ines Ferré

Roblox tumbles 13% as key metrics disappoint Wall Street

Roblox (RBLX) shares tumbled as much as 30% before paring losses on Thursday falling after the video game platform missed on key quarterly metrics.

The company's daily active users for last quarter came in at 85.3 million, short of estimates for 88.39 million. Hours engaged also came in light at 18.7 billion versus expectations for 19.42 billion.

The stock pared losses in early trading, declining 13% by 10:40 a.m. ET.

Ines Ferré

Tesla shares extend losses, down more than 2%

Shares in Tesla (TSLA) sank more than 2% on Thursday, on track to extend losses for a second day in a row.

The EV giant's stock came under pressure after automaker Ford (F) issued muted full-year guidance.

The declines from Tesla on Wednesday came after news its Germany sales plunged 59% in January, adding to concerns that CEO Elon Musk's involvement in politics there could be turning off potential buyers.

Tesla's stock is down more than 9% year to date, but is still up roughly 45% since Election Day on Nov. 5 as Musk backs President Donald Trump.

Ines Ferré

Trending tickers on Thursday

Peloton (PTON)

The bike maker's stock soared 23% as quarterly sales came in better than expected, thanks in part to its seasonal partnership with Costco (COST).

"Our new seasonal partnership with Costco drove more Bike+ unit sales than any other third-party retail partner during Q2," the company said in a letter to shareholders.

Peloton's operating expenses were down 25% year-over-year. The company raised its full year guidance range for adjusted EBITDA and free cash flow.

Qualcomm (QCOM)

Shares of Qualcomm were down 5% on Thursday, after the chip maker's quarterly earnings came in better than expected, but tguidance for its licensing business disappointed Wall Street.

Qualcomm (QCOM) said it expected revenue for its licensing business to come in at between $1.25 billion and $1.45 billion for the second quarter, compared to analyst expectations of $1.4 billion.

Honeywell (HON)

Shares of Honeywell fell 4% on Thursday after the conglomerate ended months of speculation by announcing it would split into three listed companies: Honeywell Automation, Honeywell Aerospace and Advanced Materials.

The automation business will stay focused on building that technology, while aerospace is dedicated to tech for plane cockpits, and advanced materials covers solutions for sectors such as healthcare.

Ines Ferré

Stocks open higher as earnings pour in

US stocks rose on Thursday as investors digested company earnings and awaited e-commerce giant's Amazon (AMZN) results due after the bell.

The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) both rose more than 0.2%. The tech-heavy Nasdaq Composite (^IXIC) moved above flatline on the heels of two winning days in a row for the major gauges.

Among the major movers on Thursday, Ford (F) shares slid as the auto maker warned of lower profits if tariffs were to be implemented on Canada and Mexico.

Shares of Peloton (PTON) soared 23% after the fitness equipment maker posted better than expected sales, thanks in part to its seasonal partnership with Costco (COST).

Disappointing results from chip makers Arm (ARM) and Qualcomm (QCOM) weighed on those shares.

Ines Ferré

Eli Lilly reports mixed earnings, increases 2025 guidance

chof360 Finance's Anjalee Khemlani reports:

Eli Lilly (LLY) reported fourth quarter and full year earnings for 2024 on Thursday, with results largely beating Wall Street estimates, sending its stock slightly higher in pre-market trading. But the company missed on GLP-1 sales.

The pharma giant has had a few hits and misses in the past few months. Its GLP-1 tirzepatide drugs were removed from the FDA drug shortage list, which shuts down compounding pharmacy knockoffs. But it also revised down its fourth quarter 2024 guidance last month, ahead of the earnings release.

Read more here.

Europe stocks rise, FTSE 100 surges after BOE rate cut

Stocks in Europe and the UK moved higher on Thursday as investors welcomed a wave of earnings reports and an interest-rate cut from the Bank of England.

London's FTSE 100 index (^FTSE) climbed 1.6% after the UK central bank reduced its key rate as expected to 4.5%, its lowest level in 20 months. The BOE's first easing in three months came after a cooling in inflation.

Meanwhile, the pan-European Stoxx 600 (^STOXX) benchmark advanced 0.7%, setting its sights on a fresh record close. Germany's DAX (^GDAXI) rose 0.9%, and the CAC (^FCHI) in Paris moved up 1%.

Jenny McCall

Good morning. Here's what's happening today.

Economic data: Challenger jobs cuts (year-over-year, January); Initial jobless claims (week ending Feb. 1)

Earnings: Amazon (AMZN), Eli Lilly (LLY), Affirm (AFRM), e.lf. Beauty (ELF), Bristol Myers Squibb (BMY), ConocoPhillips (COP), Hershey (HSY), Peloton (PTON), Pinterest (PINS), Phillip Morris International (PM), Roblox (RBLX), Tapestry (TPR), Yum! Brands (YUM)

Here are some of the biggest stories you may have missed overnight and early this morning:

The Elon Musk-Sam Altman feud is turning into a long legal war

Honeywell to break up into three companies: WSJ reports

Trump, Musk are setting up a fight around a Watergate-era law

The biggest factor that could break the stable labor market

Musk 'buyout' taken by 40,000 federal workers as deadline nears

Bessent: Trump wants lower 10-year yields, not Fed cuts

Arm stock slides after chip firm dials down FY sales forecast

Oil prices return from losses with Saudi price increase

Oil prices are pulling back from a heavy sell-off after Saudi Arabia's state oil company set a steep rise in March oil prices.

Futures saw an immediate change in price, with Brent crude futures (BZ=F) coasting up 14 cents to $74.75 a barrel and West Texas Intermediate (CL=F) crude rising 18 cents $71.21 a barrel.

Reuters reports:

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