Stock Market Today: Live Updates

Almost one in four companies S&P500 Reported earnings for the season so far. Many of them have exceeded Wall Street expectations.

About 24.7% of S&P 500 stocks announced quarterly results, according to FactSet data shortly after the opening bell on Friday. Of the markets already reported, nearly 72% beat analyst consensus estimates, according to data from the market analysis platform.

— Alex Harring

The three major indexes fell as the final trading day of the week began.

of Dow and S&P500 Each fell about 0.1% after 9:30 a.m. ET. The Nasdaq Composite fell about 0.2%.

Despite the decline, the three indexes still managed to end the week on an upward trend.

— Alex Harring

Cryptocurrency markets ended the week with some relief from investors that outflows from the Grayscale Bitcoin ETF (GBTC) may be starting to taper off.

Bitcoin It rose more than 3% to $40,989.80, according to Coin Metrics. By Friday morning, the price had risen to $41,658. However, the stock is still down more than 1.5% for the week.

ether It rose about 1% on Friday to trade at $2,239.06. However, the stock is on pace to record a weekly decline of nearly 10%, making it the worst week since August 18th.

Significant Ether movements tend to follow large Bitcoin movements. After ending 2023 with a 90% gain compared to Bitcoin’s 157% rise, Ether outperformed Bitcoin in a bit of a catch-up trade following the launch of the ETF earlier this month. Ether suffered a significant drop this week as Bitcoin fell below $39,000 for the first time in seven weeks.

— Tanaya Machel

The Fed’s recommended inflation measure, the Core Price Consumer Expenditure Index, rose 0.2% in December from the previous month, in line with Dow Jones forecasts. Year over year, core PCE increased by 2.9%, slightly below expectations of 3%.

— Fred Imbert

These are the stocks making the biggest moves before the bell.

Click here for a complete list of stocks on the move.

— Samantha Subin

south norfolk The rail transportation company’s profits fell more than 1% before the bell as they fell short of Wall Street expectations.

The company had sales of $3.07 billion in the fourth quarter and earned earnings of $2.83 per share, excluding items. However, analysts surveyed by LSEG beat expectations, expecting EPS of $2.87 per share and revenue of $3.08 billion.

Stock prices are slightly more than flat year over year.

— Alex Harring

JPMorgan Chase & Co. has made new hires and job expansions for several executives who are being looked at as possible candidates to replace Chief Executive Officer Jamie Dimon, the bank announced Thursday.

Jennifer Piepszak and Marian Lake are two bank leaders who are changing their scope of work. It’s unclear whether there is currently a front-runner for the CEO position or whether Mr. Dimon intends to resign any time soon.

— Hugh Song

With one session left in the trading week, the three major indexes are poised to end higher.

of Dow We added 0.5%, but there is a wide range S&P500 It rose by 1.1%.Although Thursday’s gains were relatively modest, tech-heavy Nasdaq Composite It outperformed this week, rising 1.3%.

Both the S&P 500 and Nasdaq have risen over the past six sessions. The S&P 500 hit a new high in the past five trading days, marking the longest streak of its kind since November 2021.

— Alex Harring

shares of american express It rose more than 2% in premarket even after the card issuer reported lower-than-expected fourth-quarter results.

The company earned $2.62 per share on revenue of $15.8 billion. Analysts polled by LSEG had expected sales of $16 billion and earnings of $2.64 per share.

However, the company forecast full-year earnings of $12.65 to $13.15 per share, beating the StreetAccount consensus estimate of $12.38 per share.

Chinese real estate stocks rose on Friday, with the CSI 300 real estate sector hitting a nearly four-week high.

The index was up 2.5% in morning trading after rising nearly 6% on Thursday. It has gained nearly 12% over the past four sessions.

Chinese real estate stocks soared in premarket trading after the People’s Bank of China and the Ministry of Finance announced measures to increase liquidity available to property developers.

The new measures will remain in effect until the end of 2024.

Hong Kong listed stocks country garden 1.4% increase, logan group 1.6% increase; CK Asset Holdings Added 1.5%. Hong Kong’s Hang Seng Mainland Property Index rose 0.3%, following a 4.3% rise in the previous session.

— Shreyashi Sanyal

The Central Bank of Japan has no intention of lifting negative interest rates or yield curve control policies based on “concrete numbers,” including wage hike negotiations.

According to the minutes of the Bank of Japan’s December meeting, multiple board members said that withdrawal from NIRP and YCC “will be decided at future meetings based on various data and information obtained at each point.”

At the meeting, some members expressed the view that unless the policy rate is raised urgently, we are not in a situation where we will be left behind.

The members added that even if the Bank of Japan makes a decision after labor-management wage negotiations are concluded in the spring of 2024, “it is not too late.”

— Lim Huijie

Inflation in Japan’s capital, Tokyo, fell to 1.6% in January from 2.4% in December.

Tokyo’s inflation rate is widely considered to be a leading indicator of inflation trends across Japan.

Tokyo’s core inflation rate, which excludes fresh food prices, also stood at 1.6%, lower than the 1.9% expected by economists polled by Reuters and also below December’s 2.1%.

The so-called “core-core” inflation rate, which is monitored by the Bank of Japan and excludes fresh food and energy prices, fell to 2.2% from 2.7% in January.

— Lim Huijie

Mark Hefele of UBS said aggressive investors may want to switch away from cash-heavy positions now and invest in bonds before the Federal Reserve starts cutting interest rates. .

Yields on the 100 largest money market funds are still well above 5%, but as the Fed lowers interest rates, those rates will fall. Mr. Hefele, global chief investment officer of wealth management, said UBS expects high-quality medium-duration bonds to return 8.5% in its base case, compared with a return of 4.3% for cash.

Another reason to choose long-term bonds is that in hard landing situations, bonds cushion portfolio losses. In a recession scenario, the stock market could fall by more than 15% on a total return basis, but UBS expects losses would be contained by a 16% rise in bonds.

A portfolio allocated to 60% stocks and 40% bonds would see a decline of only 3% in this situation, according to Höfele.

“Investors holding excess cash will not have sufficient protection in this scenario. Cash ‘will not appreciate and returns relative to interest rates are likely to decline in this scenario,'” he wrote.

–Darla Mercado

The slump in freight traffic is expected to recover in 2024, according to a note from MRB Partners on Thursday, with transportation stocks expected to recover as well, as inventory shortages spur a rebound in manufacturing production. It is said that Increased global trade will also boost stock prices, the researchers said.

Within the industry, MRB recommends air carriers and logistics companies, saying, “The recent rise in air cargo revenue ton-miles bodes well for air cargo stocks’ relative future returns, and their stock prices are attractive.” It has said.

Meanwhile, rail and truck drivers are being held back by “sluggish growth in non-intermodal rail transport, a trend toward subdued prices, and rising relative valuations,” wrote MRB strategist Salvatore Ruscitti.

The Dow Jones Transportation Average is up 2.3% so far this week and 0.34% year-to-date, exactly in line with the S&P 500 this week, but behind the S&P’s 2.6% gain in 2024.

— Scott Schnipper, Michael Bloom

Share prices of major semiconductor stocks pushed down the Nasdaq 100 futures market on Thursday night. The index fell 0.5%, or about 90 points in after-hours trading.

semiconductor manufacturer intel Shares fell about 10% after reporting disappointing first-quarter guidance.

stocks of other semiconductor companies; Advanced Micro Devicesthe software and manufacturing equipment provider fell more than 3%. applied materials It decreased by 2.3%.semiconductor company KLA It also fell 6% after announcing a weaker-than-expected outlook for its fiscal third quarter. Nvidia The stock fell 1.7% following declines in the sector.

— Peer Singh

Let’s check out the companies that are becoming a hot topic for after-hours trading.

• T-mobile — Telecommunications stocks fell 2.9%% after T-Mobile missed fourth-quarter earnings estimates but beat revenue estimates. The company’s earnings per share were $1.67, compared to analyst estimates compiled by LSEG of $1.90 per share. Sales for the period were $20.48 billion, exceeding expectations of $19.64 billion, according to LSEG.
• intel —The company’s stock price fell nearly 8% in after-hours trading after the company’s first-quarter earnings outlook was disappointing. Intel expects adjusted earnings of 13 cents per share in the first quarter of 2024, while analysts surveyed by LSEG expected 33 cents per share. The expected sales of $12.2 billion to $13.2 billion were also lower than analysts’ expectations for sales of $14.15 billion for the same period.
• Levi Strauss — Levi Strauss shares fell nearly 1% after the apparel company announced Thursday it would cut at least 10% of its global workforce through restructuring efforts. The company said the job cuts are expected to take place in the first half of 2024. Fourth-quarter results were also released Thursday, and Levi’s adjusted earnings per share beat expectations, but missed revenue expectations.

Read here for the complete list.

— Peer Singh

Futures tracking the Dow Jones Industrial Average fell 67 points, or 0.18%, on Thursday.

S&P 500 futures fell about 0.15%. Nasdaq 100 futures fell 0.4%; intel This comes after disappointing first quarter earnings forecasts.

— Peer Singh