Stocks rally on strong earnings from tech companies, with some stocks seeing disappointing results.

From Nasdaq: 2025-01-31 15:26:18

Stocks are up today, with the S&P 500, Dow Jones, and Nasdaq all showing gains. Strong earnings from tech companies like Apple and Atlassian are driving the market higher. AbbVie also saw a bump after reporting better-than-expected results. Walgreens Boots Alliance and PPG Industries, however, are down due to disappointing news.

US economic data shows increased personal spending and stable inflation, boosting stock indexes. Trump’s tariff plans on Canada and Mexico are causing some concern. The Fed’s hawkish comments signal a cautious approach to rate cuts. Earnings season is positive, with S&P 500 companies expecting 7.5% growth in Q4.

Overseas markets are up, with Euro Stoxx 50 hitting a 24-year high. US T-notes are down due to stock market rally and hawkish Fed comments. European bond yields are lower. Inflation expectations are on the rise. German retail sales and unemployment data disappoint. Swaps predict a rate cut by the ECB in March.

Notable stock movers include Apple, Atlassian, AbbVie, and Baker Hughes, all posting strong results. On the downside, Deckers Outdoor, Walgreens Boots Alliance, and PPG Industries are struggling. Chevron and Colgate-Palmolive also report weaker-than-expected earnings. Market sentiment remains positive overall.



Read more at Nasdaq: Stocks Climb on Solid Corporate Earnings Results