S&P 500 hits record high before slight pullback with positive earnings reports

From Investing.com: 2025-01-24 13:11:17

The S&P 500 reached a new record high before retreating slightly on Friday, with the Dow and Nasdaq also seeing small losses. All three major indexes are set to end the week positively after President Trump’s comments on interest rates at Davos. Quarterly earnings reports are driving individual stock movements.

Verizon saw a more than 1% increase in its stock price after reporting strong wireless subscriber growth. American Express reported a 12% profit increase but saw its stock drop 2.4%. Boeing’s stock fell 1.2% due to a larger-than-expected loss in the last quarter. Texas Instruments and Twilio also reported significant stock movements based on their earnings reports.

Investors are turning their attention to next week’s Federal Reserve meeting and the future of interest rates. The economic data scheduled for release includes January economic activity and consumer sentiment numbers. The Fed is expected to keep rates unchanged, with analysts expecting them to overlook any inflationary effects from recent tariffs. Earlier, the ECB raised interest rates by 25 basis points.



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