Traders work on the floor of the New York Stock Exchange on Feb. 4, 2025.
NYSE
The S&P 500 moved higher on Thursday after the major averages posted back-to-back winning sessions, as investors weighed the latest batch of corporate earnings.
The broad market index advanced 0.2%, while the Nasdaq Composite traded up about 0.3%. The Dow Jones Industrial Average, meanwhile, lost 62 points, or 0.1%.
Semiconductor names slid, with Qualcomm and Arm declining 5% and 7%, respectively. Skyworks Solutions lost 25% after reporting their latest quarterly results. Ford Motor also fell 4% after the automaker forecast a difficult 2025.
Honeywell shares were also down 4% after the company issued full-year earnings guidance that fell short of what analysts anticipated. The company also announced it would split into three companies.
By contrast, Philip Morris shares surged 8% on the heels of the international tobacco company reporting better-than-expected earnings and revenue for the fourth quarter. The gain put the stock on track for a record high close.
“Today’s price action definitely has felt idiosyncratic, and that’s a lot of times what we see during earnings season where … investors rather focus on individual company fundamentals,” Zachary Hill, head of portfolio management at Horizon Investments, said to CNBC.
Meanwhile, investors have seemed to shake off worries around tariffs, which began on Monday after President Donald Trump announced a 10% levy on Chinese imports over the weekend. Sentiment improved after the president paused duties on Mexican and Canadian goods.
“That continues to be something that, while it’s not like impacting the price action at the moment, we do think is something that will continue to be in investors’ calculus for some time,” Hill added.
Wednesday marked a second day of gains for the major stock averages. The Dow added 317.24 points, or 0.71%, during the day’s regular session. The S&P 500 and Nasdaq Composite gained 0.39% and 0.19%, respectively, aided by a jump in Nvidia shares.