Traders work on the floor of the New York Stock Exchange (NYSE) on November 16, 2023 in New York City, USA.
Brendan McDiarmid | Reuters
of S&P500 Stocks rose on Thursday as Wall Street tried to regain footing amid consecutive losses for benchmark indexes. Investors also continued to analyze the latest corporate earnings reports.
The broader index rose 0.4%; Nasdaq Composite It rose by 0.3%.of Dow Jones Industrial Average It rose 239 points, or 0.7%, on the back of an increase of more than 4%. united health.
The S&P 500 has fallen more than 1% so far this week, while the Dow Jones Industrial Average has remained close to flat over the same period.
The Nasdaq fell nearly 3% this week as tech stocks struggled. This marks the index's fourth consecutive week of decline, making it the longest negative streak since December 2022.
credit bureau equifax The stock fell more than 9% in Thursday trading after disappointing second-quarter guidance.home builder DR Horton Quarterly earnings beat expectations, with shares up more than 4%.
More than 12% of S&P 500 publicly traded companies are currently reporting earnings in what is shaping up to be a strong season. Of the companies that have already reported results, 73% have beat Wall Street expectations for their individual results, according to FactSet.
The S&P 500 and Nasdaq traded losses for the fifth day in a row, briefly declining on the day. This is the longest losing streak since October and January, respectively.
The move comes during a difficult second quarter for Wall Street. This is due to growing concerns over the direction of inflation and the monetary policy of the US Federal Reserve Board (Fed).
In contrast to the better-than-expected performance seen in the first quarter, all three major indexes have declined so far in April.
“This is one of the most widely publicized recessions of all time,” said Quincy Crosby, chief global strategist at LPL Financial. Now, “what we're looking at…is whether the lows go any lower.”