Wall Street today: US stocks mostly up after Donald Trump’s Davos comments
At 11:57 a.m. ET, the Dow Jones Industrial Average rose 0.58 per cent, the S&P 500 gained 0.14 per cent, the Nasdaq Composite lost 0.19 per cent
US stocks mostly rose on Thursday after US President Donald Trump's Davos comments and corporate earnings.
At the WEF in Davos , Switzerland, Trump said that he is working to reverse inflation, lower taxes and boost fossil fuels production in the US but did not elaborate on his proposed tariffs.
At 11:57 a.m. ET, the Dow Jones Industrial Average rose 253.34 points, or 0.58 per cent, to 44,411.02, the S&P 500 gained 8.71 points, or 0.14 per cent, to 6,094.99 and the Nasdaq Composite lost 38.86 points, or 0.19 per cent, to 19,970.48.
At 09:49 a.m. ET the Dow Jones Industrial Average rose 77.68 points, or 0.18 per cent, to 44,234.41, the S&P 500 lost 3.29 points, or 0.05 per cent, to 6,083.25, and the Nasdaq Composite lost 72.01 points, or 0.36 per cent, to 19,937.14.
At the opening bell, the Dow Jones Industrial Average fell 43.2 points, or 0.10 per cent, to 44,113.55. The S&P 500 fell 10.1 points, or 0.17 per cent, to 6,076.32, while the Nasdaq Composite dropped 102.4 points, or 0.51 per cent, to 19,906.988.
Gainers and loser
GE Aerospace stock climbed 8.5 per centafter the company reported stronger profit for December quarter.
American Airlines stock shed 7.4 per centdespite it reported stronger quarterly profit.
Stocks of artificial intelligence-chip giant Nvidia fell 1.4 per cent and Microsoft dipped 0.6 per cent.
JPMorgan Chase and Goldman Sachs rose more than 1 per cent each.
Shares of Electronic Arts tanked 15 per centafter the video game maker said it’s seeing a slowdown in revenue.
Bonds
In the bond market, the yield on the 10-year Treasury climbed to 4.64 per cent from 4.61 per cent late on Wednesday. The 2-year Treasury yield held at 4.30 per cent.
Crude oil
Oil was steady near $79 a barrel after an industry report showed the first gain in US crude stockpiles since mid-November.
US crude inventories rose by 1 million barrels last week and fuel stockpiles surged, the American Petroleum Institute reported, according to a document seen by Bloomberg.
Bullion
Gold prices dipped on Thursday after hitting a near three-month high in the previous session.
Spot gold was down 0.4 per cent at $2,744.49 per ounce by 1246 GMT. US gold futures shed 0.7 per cent to $2,751.20. Spot silver dropped 1.5 per cent to $30.33.
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