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Equity Markets Rise Intraday Ahead of Apple Results
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Equity Markets Rise Intraday Ahead of Apple Results
Jan 30, 2025 11:42 AM

02:15 PM EST, 01/30/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday as markets parsed the latest set of corporate earnings and awaited Apple's ( AAPL ) results.

The Dow Jones Industrial Average was up 0.6% at 44,974 after midday Thursday, while the S&P 500 rose 0.5% to 6,068.1. The Nasdaq Composite added 0.1% to 19,645.2. Barring technology, all sectors were in the green, led by utilities and real estate.

In company news, IBM ( IBM ) shares were up nearly 13%, the best performer on the S&P 500 and the Dow. The company delivered a fourth-quarter earnings beat late Wednesday.

Mastercard ( MA ) posted better-than-expected fourth-quarter results Thursday amid robust consumer spending. The payments giant's shares were up 4% intraday.

Comcast ( CMCSA ) shares declined 12%, the worst performer on the Nasdaq and among the worst on the S&P 500. The media and connectivity giant logged a sharper fourth-quarter loss in domestic broadband subscribers than it previously expected, and said there's likely no competitive relief in sight.

IPhone maker Apple ( AAPL ) is scheduled to report results after Thursday's closing bell, along with payments giant Visa (V) and chipmaker Intel ( INTC ) .

The US 10-year yield fell 3.3 basis points to 4.52% intraday, while the two-year rate dropped 1.5 basis points to 4.21%.

In economic news, the US economy grew at an annual rate of 2.3% in the fourth quarter, slower than a Bloomberg-compiled consensus of 2.6%. In the third quarter, the economy grew 3.1%.

Pending home sales in the US unexpectedly declined in December after four consecutive months of gains, the National Association of Realtors said.

"After four straight months of gains in contract signings, one step back is not welcome news, but it is not entirely surprising," NAR Chief Economist Lawrence Yun said. "High mortgage rates have not significantly dented housing demand due to greater numbers of cash transactions."

West Texas Intermediate crude oil was up 0.5% at $72.96 a barrel intraday.

Gold rose 1.8% to $2,845 per troy ounce, while silver jumped 3.5% to $32.50 per ounce.

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