(Updates to U.S. market close)
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European shares touch record high
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Amazon ( AMZN ) revenue beats estimates; cloud computing
disappoints
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Gold snaps winning streak
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Bank of England cuts UK interest rates, pound weakens
By Stephen Culp
NEW YORK, Feb 6 (Reuters) - U.S. stocks were mixed at
the end of choppy session on Thursday as investors digested a
spate of earnings, while waning concerns over widening tariff
conflicts capped gold's string of record highs.
Amazon's ( AMZN ) shares fell in extended trading as
investors scrutinized its after-the-bell earnings, and awaited
the January employment report due from the Labor Department on
Friday.
During regular trading, the S&P 500 and the Nasdaq see-sawed
to modest daily gains, while the Dow inched lower and benchmark
Treasury yields appeared set to snap their three-day slide.
"Today's market action is largely driven by the earnings
that came out last night and this morning," said Peter Tuz,
president of Chase Investment Counsel in Charlottesville,
Virginia. "You had a totally mixed bag of earnings and slashed
guidance from a variety of companies in a variety of
industries."
Honeywell ( HON ) shares fell after the industrial
conglomerate announced it would split into three separate
companies and provided downbeat 2025 forecasts.
On the economic front, jobless claims, layoffs and labor
costs/productivity provided a prologue to Friday's keenly
anticipated January employment report.
Domestic and international political uncertainties kept
simmering, although fears have eased that U.S. President Donald
Trump's approach to tariffs could escalate into a global trade
war.
"We are witnessing a resilient economy ... against a
backdrop of geopolitical concerns, and an expectation of some
sort of chaos down the road," said Oliver Pursche, senior vice
president at Wealthspire Advisors in New York.
The Dow Jones Industrial Average fell 125.65
points, or 0.28%, to 44,747.63, the S&P 500 rose 22.09
points, or 0.36%, to 6,083.57 and the Nasdaq Composite
rose 99.66 points, or 0.51%, to 19,791.99.
European shares touched an all-time high, powered by upbeat
earnings, as investors weighed the possibility of a Ukraine
peace plan.
Britain's FTSE 100 also reached a record peak as the BoE cut
interest rates by 25 basis points but warned it would be
cautious going forward, in the face of a potential inflation
uptick and geopolitical worries.
MSCI's gauge of stocks across the globe
rose 0.88 points, or 0.10%, to 872.57.
The STOXX 600 index rose 1.17%, while Europe's
broad FTSEurofirst 300 index rose 26.54 points, or
1.24%.
Emerging market stocks rose 6.63 points, or 0.61%,
to 1,102.42. MSCI's broadest index of Asia-Pacific shares
outside Japan closed higher by 0.62%, to 580.13,
while Japan's Nikkei rose 235.05 points, or 0.61%, to
39,066.53.
U.S. Treasury yields drifted slightly higher, on course to
snap a three-day slide to multi-week lows as trade war jitters
subsided and investors trained their focus on Friday's payrolls
report.
The yield on benchmark U.S. 10-year notes rose
1.8 basis points to 4.438%, from 4.42% late on Wednesday.
The 30-year bond yield rose 0.4 basis points to
4.6457% from 4.642% late on Wednesday.
The 2-year note yield, which typically moves in
step with interest rate expectations for the Federal Reserve,
rose 2.7 basis points to 4.212%, from 4.185% late on Wednesday.
The dollar edged higher as the Japanese yen hit an 8-week
high while sterling lost ground in the wake of the BoE rate
decision, after reaching a one-month high on Wednesday.
The dollar index, which measures the greenback
against a basket of currencies including the yen and the euro,
rose 0.02% to 107.67, with the euro down 0.14% at
$1.0387.
Against the Japanese yen, the dollar weakened 0.72%
to 151.5.
Sterling weakened 0.54% to $1.2439.
The Mexican peso strengthened 0.69% versus the dollar at
20.46.
The Canadian dollar strengthened 0.01% versus the
greenback to C$1.43 per dollar.
In cryptocurrencies, bitcoin fell 0.12% to
$96,808.46. Ethereum declined 2.6% to $2,713.94
Oil prices reversed earlier gains amid choppy trading as
President Trump's renewed pledge to boost production raised
oversupply concerns.
U.S. crude dropped 0.59% to $70.61 per barrel, while
Brent fell to $74.29 per barrel, down 0.43% on the day.
Gold reversed its multi-session rally, which was driven by a
risk-off flight to safety that drove the precious metal to a
record high.
Spot gold fell 0.3% to $2,856.40 an ounce. U.S. gold
futures fell 0.39% to $2,860.50 an ounce.