S&P 500 closes up; focus on earnings and US interest rates

From Nasdaq:

The S&P 500 closed slightly higher as investors scrutinized a mixed bag of earnings at big U.S. companies. Fed Comments are also a factor in the stock market. Minneapolis Fed President says the central bank is okay with inflation while Fed Chair Macroeconomic news today is a couple of Fed governors confirming what Powell said over the weekend, which is putting a little damper on markets. S&P 500 gained 11.33 points, or 0.23%, to end at 4,954.14 points, while the Nasdaq Composite gained 12.16 points, or 0.07%, to 15,609.49. The Dow Jones Industrial Average rose 138.20 points, or 0.36%, to 38,520.70. Praveen suggested the Fed should not wait too long to ease policy. KBW Regional Banking index .KRX fell again after losing around 11% in the previous five sessions. New York Community Bancorp shares also stretched a selloff. Airlines helped advance the Dow Jones Transport Average .DJT with some signs of strong demand. With over half of S&P 500 companies now having reported earnings, 81.2% surpassed expectations. Overall S&P 500 earnings are expected to have risen 8.1% in the fourth quarter from the year-ago quarter. GE HealthCare Technologies rose sharply after the medtech firm posted better-than-expected fourth-quarter earnings, driving the S&P 500 healthcare sector to an all-time high. The materials index gained ground with shares in chemicals firm DuPont de Nemours jumping after it beat fourth-quarter profit estimates, announcing a $1 billion share-repurchase program and hiking its dividend. Palantir Technologies shares also soared after forecasting upbeat annual profit. However, Eli Lilly reversed earlier gains even after forecasting 2024 profit above estimates. Chip stocks pressured the tech-heavy Nasdaq. The Philadelphia SE Semiconductor index underperformed during the session. Rambus Inc led declines in the sector as its shares plunged after its quarterly report.



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