US stocks inched up on Thursday in anticipation of Amazon’s (AMZN) quarterly results, as investors assessed the earnings season so far and eyed President Donald Trump’s fast-moving policy overhaul.
The Dow Jones Industrial Average (^DJI) hovered near the flat line, while the S&P 500 (^GSPC) nudged up around 0.3%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.3% on the heels of two winning days in a row for the major gauges.
The tariff jitters that shook stocks earlier in the week may have eased, but markets are tracking incoming earnings for any company warnings. At the same time, tech and chip-related results are being scrutinized for signals about the strength of AI demand.
Investors are keenly awaiting Amazon’s quarterly report due after the bell, following Alphabet’s (GOOG, GOOGL) cloud sales flop. The report will further test the view that Big Tech plans to keep spending big in AI after disappointing results late Wednesday from chip makers Arm (ARM) and Qualcomm (QCOM).
Adding to the gloom, Ford (F) shares slid despite a quarterly earnings beat after it put out muted full-year guidance, pointing to tariffs as a headwind.
Peloton’s (PTON) stock soared after the fitness equipment maker posted better-than-expected sales, thanks in part to its seasonal partnership with Costco (COST). Meanwhile, ConocoPhillips (COP) beat quarterly profit estimates amid higher oil and gas production.
Treasury Secretary Scott Bessent relieved some pressure on the Federal Reserve, saying Trump wants to bring down 10-year Treasury yields to ease borrowing costs, rather than push for lower interest rates. The benchmark yield (^TNX) traded around its lowest levels since December, at about 4.43%.
In economic news, jobless claims jumped to 219,000 last week, slightly above estimates of 213,000. Investors look to the reading for clues to Fed decision making amid the risk of an uptick in inflation.
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