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  • Martha Holcombe
  • noahphotobooth
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  • #7

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Created Feb 10, 2025 by Martha Holcombe@marthaholcombeMaintainer

US STOCKS-S & P 500, Nasdaq Rise On Upbeat Earnings; Amazon, Jobs


Honeywell to separate aerospace and automation businesses

Tapestry leaps after raising annual sales and earnings forecast

Amazon ticks up ahead of revenues

Indexes: Dow down 0.4%, S&P 500 up 0.2%, Nasdaq up 0.34%

(Updates at mid afternoon)

By Abigail Summerville and Sukriti Gupta

Feb 6 (Reuters) - The S&P 500 and the Nasdaq rose on Thursday, as financiers sorted through several upbeat revenues reports while awaiting Friday's essential jobs report and any trade policy relocations.

Drugmaker Eli Lilly rose 3.4% after the business forecast annual earnings mainly above price quotes, while fashion home Tapestry leapt 12.6% on an annual sales and revenue projection boost.

Philip Morris International advanced 10.2% after the cigarette maker published better-than-expected quarterly results and projection 2025 earnings above quotes.

Amazon.com ticked up 0.7% ahead of its quarterly revenues report, anticipated after the bell. Investors will try to find updates on its expert system investments, after Chinese startup DeepSeek's cheaper AI design sharpened financier scrutiny of the billions U.S. tech giants have spent establishing the innovation.

"Today, the main focus is business revenues. Tariffs remain in the background," said Zachary Hill, head of portfolio management at Horizon Investments.

"Amazon will be the sixth of the Magnificent Seven to report. The AI style has actually been under quite a lot of volatility over the last few weeks with the DeepSeek news ... We ´ re watching tonight for any thoughts that (Amazon) has to say around that," Hill said.

Honeywell fell 5.5% after the commercial and aerospace giant said it would divide into three separately noted companies and projection downbeat sales and revenue for 2025. The sharp decrease dragged down the Dow.

At 1:45 p.m. ET (1845 GMT), the Dow Jones Industrial Average fell 179.25 points, or 0.40%, to 44,694.03, the S&P 500 gained 11.56 points, or 0.20%, akropolistravel.com to 6,073.04 and the Nasdaq Composite gained 67.37 points, or 0.34%, wiki.dulovic.tech to 19,759.70.

Eight of the 11 S&P 500 sectors traded greater, with consumer staples leading gains, timeoftheworld.date and energy stocks losing the most ground.

Markets saw a miserable start to the week when U.S. President Donald Trump announced sweeping trade tariffs over the weekend, however suspended the levies on items from Mexico and Canada on Monday for a month.

The January nonfarm payrolls report is due on Friday, a crucial metric in assessing the state of the labor market and the Federal Reserve's rate course.

Traders do not anticipate the Fed to make a move on rate of interest in its next meeting in March, however a cut is extensively prepared for in June, according to the CME's FedWatch.

Data released on Thursday showed the number of Americans submitting brand-new applications for joblessness benefits increased reasonably last week.

Elsewhere in corporate relocations, Skyworks Solutions plunged 23.5% after the Apple supplier projection decreases in income in its mobile sector and forecasted current-quarter revenues listed below price quotes.

Qualcomm fell 4.8% as the chip designer's executives said its rewarding patent-licensing business would not see sales development this year after a license contract with Huawei Technologies expired.

Ford Motor dropped 6.4% after the automaker projection up to $5.5 billion in losses in its electric lorry and software application operations this year.

Advancing concerns surpassed decliners by a 1.07-to-1 ratio on the New York Stock Exchange, and by a 1.04-to-1 ratio on the Nasdaq.

The S&P 500 posted 30 52-week highs and 9 brand-new lows while the Nasdaq Composite taped 111 new highs and 77 new lows. (Reporting by Abigail Summerville in New York City, Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Shinjini Ganguli and Nia Williams)

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