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US Equity Indexes Mixed in Midday Trading
Feb 6, 2025 9:37 AM

12:29 PM EST, 02/06/2025 (MT Newswires) -- US equity indexes traded mixed amid a quarterly earnings flood, with Amazon.com ( AMZN ) reporting after the bell and jobless claims increasing more than forecast.

The Nasdaq Composite rose 0.1% to 19,716.3, and the S&P 500 added 0.2% to 6,070.9 after midday Thursday. The Dow Jones Industrial Average fell 0.4% to 44,695.4. Consumer staples and financials were among the gainers, while energy led the decliners intraday.

In company news, Ralph Lauren ( RL ) reported fiscal Q3 adjusted earnings and sales that beat the market's expectations. Shares soared nearly 12% intraday, among the top performers on the S&P 500.

Skyworks Solutions ( SWKS ) reported fiscal Q1 non-GAAP net income and net revenue late Wednesday that slumped from a year ago. Shares sank 24% intraday, the worst performer on the S&P 500.

Honeywell International ( HON ) has unveiled plans to split into three publicly-listed entities as part of a goal to optimize its portfolio and issued a downbeat full-year outlook, taking the shine out of its Q4 beat. Shares slumped 5.5% intraday, among the steepest decliners on the Nasdaq and the Dow.

Amazon.com ( AMZN ) will report quarterly results after the bell on Thursday.

In economic news, US initial jobless claims rose to 219,000 in the week ended Feb. 1 from an upwardly revised 208,000 in the previous week, compared with expectations for 213,000 in a survey of analysts compiled by Bloomberg.

Outplacement firm Challenger, Gray & Christmas said Thursday that companies planned to cut 49,795 jobs in January, up from 38,792 in December but below the 82,307 level in January 2024. The current month's level is the lowest for a January report since 2022.

Almost all US Treasury yields advanced, with the 10-year up 3.4 basis points to 4.45% and the two-year 2.5 basis points higher at 4.21%.

West Texas Intermediate crude oil futures fell less than 0.1% to $70.97 a barrel.

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