Wall St. indexes end up as investors weigh earnings

Wall St. indexes end up as investors weigh earnings

STORY: U.S. stocks ended higher on Thursday as investors digested a stack of key earnings reports, including from megacap tech companies.

The Dow gained almost four-tenths of a percent, the S&P 500 added more than half a percent and the Nasdaq climbed a quarter of a percent.

Shares of Apple ended lower and dropped further in extended trading after the tech giant reported weaker iPhone sales and revenue from China during the holiday quarter.

Intel, up more than 1% at the close, rose further in extended trading after its fourth-quarter revenue topped expectations.

Tesla shares ended higher after CEO Elon Musk vowed to launch long-awaited cheaper EVs in the first half of 2025 and start testing an autonomous ride-hailing service in June. His comments overshadowed quarterly results that fell short of expectations.

Meanwhile, shares of Microsoft plummeted more than 6% after forecasting disappointing growth in its cloud computing business.

The CEOs of both Microsoft and Meta Platforms defended their heavy investments in artificial intelligence, days after a new AI model from Chinese startup DeepSeek rattled Wall Street and triggered a sell-off in AI-related stocks.

But Shana Orczyk Sissel, founder and CEO of Banríon Capital Management, sees the recent pullback as a buying opportunity.

“I still think Nvidia wins. I still think Vertiv wins. I still think Marvell [Technology] wins. And now they’re 30% cheaper. So why wouldn’t I be buying those stocks right now? [FLASH] I would totally load up on a lot of these names, because at the end of the day that long-term thesis, the long-term trends are supportive of these companies and now we’re just getting them at much better valuations.”

Research from market tracking firm Vanda showed that retail investors poured one out of every three dollars of their investments into Nvidia shares after the AI chipmaker suffered its record one-day drop earlier this week.

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