Amazon’s quarterly revenue beat estimates, but its cloud unit fell short, while investors await its artificial intelligence investments following Chinese startup DeepSeek’s cheaper AI model announcement. The S&P 500 and Nasdaq ended higher, while the Dow closed lower.
Stocks rose on earnings reports from companies like Eli Lilly and Philip Morris International, which posted better-than-expected results. However, Honeywell fell 5.6% after announcing plans to separate its aerospace and automation businesses. The Dow Jones Industrial Average fell 0.28%, while the S&P 500 gained 0.36% and the Nasdaq Composite rose 0.51%.
Markets are watching a key jobs report on Friday, with traders not expecting a rate cut from the Federal Reserve in March. Data released Thursday showed an increase in new unemployment benefit applications.
Source: https://www.reuters.com/markets/us/futures-tick-higher-run-up-big-corporate-results-2025-02-06