The S&P 500 maintained its two-week winning streak, closing lower on Friday despite reaching a new intraday record high. Investors analyzed corporate earnings and economic indicators, influencing individual stock performance.
The S&P 500 extended its winning streak to two weeks, closing lower on Friday despite earlier gains and a fresh intraday record high. Investors continue to assess corporate earnings and economic indicators. The market reacted to several key earnings reports from prominent companies. Visa (V) stock fell 1.4% despite a 12% surge in fourth-quarter profit, attributed to increased consumer spending during the holiday season. Boeing (BA) shares dropped 1.
4% after the aircraft manufacturer announced a larger-than-expected loss of approximately $4 billion in its latest quarter, citing a prolonged strike, charges related to US government projects, and expenses associated with job cuts. Analog Devices (ADI) stock declined 7.5% following a forecast of first-quarter profit below analysts' estimates, grappling with inventory buildup in its automotive and industrial markets. Conversely, RingCentral (RNG) experienced a 20% surge as the cloud communications software company projected adjusted earnings to meet the upper end of guidance for the fourth quarter and unveiled positive outlooks for the next few years through 2027. Nvidia (NVDA), meanwhile, reached a record intraday high on Friday after announcing plans to invest between $60 billion and $65 billion in capital expenditure this year to bolster its AI infrastructure.SpaceX, in a separate development, secured a $2.5 million contract from NASA to advance lunar logistics handling, offloading, and surface cargo, alongside mobility solutions. These developments occur ahead of next week's Federal Reserve policy meeting, where the future direction of interest rates will be a key focus. The US central bank is widely anticipated to maintain interest rates steady on Wednesday, with Fed officials expected to largely disregard any inflationary effects stemming from tariffs under the previous administration of Donald Trump. Analysts at Goldman Sachs have indicated that these impacts are considered one-time price level increases rather than persistent inflationary pressures. The Federal Reserve raised interest rates by 25 basis points in early 2024, marking the third hike since it began scaling back its ultra-loose monetary policy
S&P 500 Stock Market Earnings Federal Reserve Interest Rates Visa Boeing Analog Devices Ringcentral Nvidia Spacex NASA
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