Slight Increases Reported for All Three US Stock Indexes
Dow Jones and others are up today after earnings reports were released.
The three major stock indexes are all up today following a week of anticipation for more information from the Federal Reserve regarding interest rate cuts. This follows hawkish remarks from the Federal Reserve and bated breath from investors about when new cuts will actually happen.
The Dow Jones was up 0.4%, while the NASDAQ composite moved up 0.8%. The S&P 500 climbed 0.7% to help round out a slightly positive market. If the market continues to improve, we may see interest rate cuts happen by November, but that will be dependent on inflation decreasing by that time.
Individual Stock Reports
Disney’s (DIS) earnings report will be released later today, and investors are expecting minor profits to be reported. Estimates put its net income to be reported at about $1.82 billion across all properties- theme parks, movies, merchandise, etc.
Ford’s (F) shares climbed higher following its earnings report, which was better than expected. The company has a very strong outlook for this year and reported 5% gains for last year. Snap (SNAP), which owns Snapchat, fell after its quarterly report was released and showed disappointing figures.
Fortinet Inc. (FTNT) climbed an amazing 8% following its reports that demonstrated strong earnings for the quarter. Warner Bros. Discovery (WBD) rose by 3% after an announcement that the company would be joining up with Fox and ESPN to create a new sports streaming service. Fox (FOXA) rose by 5% as a result as well.
A couple of stocks fell as well, including Uber technologies Inc. (UBER). Their stock dropped 2% even though its quarterly earnings report was mildly positive. That will not hurt it too much, though as the stock had an incredible 2023. Alibaba Group Holding Ltd. (BABA) is the American arm of the Chinese online retailer, and they dropped 4% when news of their 4th quarter earnings were not as good as expected.
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