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General market commentary
Equity markets were mostly higher on Thursday, with the S&P 500 closing at a fresh record high, driven by positive sentiment following President Donald Trump's comments at the World Economic Forum in Davos. Trump called for central banks globally, including the U.S. Federal Reserve, to lower interest rates, alongside demands for cheaper oil and threats of tariffs on non-domestic goods. These remarks helped boost market optimism, particularly in sectors sensitive to economic policy, as all 11 S&P 500 sectors ended in the green. However, yields on 10-year Treasuries rose to 4.64%, putting some pressure on the tech-heavy Nasdaq, despite the index still being on track for a solid weekly gain.
Among individual movers, shares of GE Aerospace surged 6.6% after the company forecast 2025 profit above estimates, while Electronic Arts saw a sharp 16.7% drop following a downgraded forecast for annual bookings. American Airlines also saw its shares fall 8.7% after it issued a 2025 profit warning. In other markets, WTI oil prices dipped after Trump's push for Saudi Arabia and OPEC to reduce prices. On the economic front, initial jobless claims rose slightly from the previous week, though they remain low overall. Looking ahead, the focus will shift to next week's tech earnings reports and the Fed's policy meeting, which will likely set the direction for markets in the near term.
Latest market and economic update
Equities on the move
The following companies experienced moves in their share price driven by analyst ratings, quarterly earnings, or other news:
Upcoming data and events
Key economic releases today include the S&P Global Composite, Manufacturing, and Services PMI Flash reports in the US, while among the companies reporting earnings later today include American Express and Verizon.
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