Stock market today: Nasdaq slides, S&P 500 backs off from record as techs lose steam
US stocks faltered on Thursday, pulling back from a bid for fresh records as AI optimism waned and markets waited for more detail on President Donald Trump’s tariff plans.
The S&P 500 (^GSPC) slipped almost 0.2%, coming off a three-day win streak that saw the benchmark index close Wednesday on the cusp of setting a new all-time high. The Dow Jones Industrial Average (^DJI) traded broadly flat with a record still within reach.
Meanwhile, The Nasdaq Composite (^IXIC) fell 0.5% as tech stocks struggled to regain the momentum that propelled the previous day’s gains. Nvidia (NVDA) shares tipped lower, as fellow megacap techs Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL) also lost ground.
Investors are still digesting Trump’s early-days policy charge, which brought an AI push that invigorated tech names but left unclear when the outlined tariffs on big trading partners — a risk for inflation and stocks — might hit. The focus is now on Trump’s speech at the World Economic Forum in Davos later Thursday for more insight into his “shock and awe” trade policy.
Yahoo Finance is on the ground at Davos. See the latest from the world’s business leaders here.
Shares in Amazon (AMZN) and Tesla (TSLA) edged lower after business shifts by the tech leaders in Canada, a prime tariff target for Trump. The e-commerce giant will close its warehouses in Quebec, with a loss of about 1,700 jobs, while Tesla plans hefty price hikes on all its EV models sold in Canada.
Eyes are on earnings to provide a fillip for markets, after Netflix (NFLX) set the tone. GE Aerospace (GE) shares popped after the jet engine maker reported a stronger full-year profit and announced plans to raise its share buybacks and dividend. But American Airlines (AAL) stock slid amid a downbeat 2025 profit forecast. Meanwhile Alaska Airlines (ALK) shares rose after the air carrier posted a smaller than expected first quarter loss forecast.
US jobless claims increased by 6,000 to 223,000, according to the latest government data released on Thursday morning. Economists had been expecting a read of 220,000.
LIVE 3 updates
-
Electronic Arts tumbles after slashing bookings outlook
Electronic Arts (EA) stock tumbled 15% on Thursday after the game publisher said quarterly bookings fell to roughly $2.22 billion, missing analyst expectations.
The decline was due to poor performance of two of its video games: its soccer title, EA Sports FC 2025, and Dragon Age: The Veilguard. Both of those missed expectations.
The company cut its bookings outlook for the 2025 fiscal year to a range of $7 billion to $7.15 billion.
EA is expected to release its complete results on February 4.
-
S&P 500, Nasdaq waver as tech struggles
US stocks were mixed on Thursday, pulling back from near record levels as the markets awaited a speech from President trump at the World Economic Forum in Davos.
The S&P 500 (^GSPC) slipped roughly 0.2%, coming off a record intraday high on Wednesday, while the Dow Jones Industrial Average (^DJI) was little changed.
Meanwhile, The Nasdaq Composite (^IXIC) fell 0.5% as tech stocks struggled. Nvidia (NVDA) shares sliped along with Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL).
Investors are still awaiting any new developments on the tariff front. President Trump is expected to speak at the World Economic Forum in Davos later Thursday.
-
Good morning. Here’s what’s happening today.
Economic data: Initial jobless claims (week ending Jan. 18); Kansas City Fed. Manufacturing Activity (January)
Earnings: American Airlines (AAL), Alaska Airlines (ALK), CSX Corporation (CSX), Freeport-McMoRan (FCX), GE Aerospace (GE), Intuitive Surgical (ISRG), Texas Instruments (TXN), Union Pacific Corporation (UNP)
Here are some of the biggest stories you may have missed overnight and early this morning:
Trump’s new crypto token is the industry in its purest form
Why Trump is laser-focused on tariffs for Canada
Intel races to find next CEO before it sinks into irrelevance
Amazon to cut 1,700 jobs, close warehouses in Quebec
GE Aerospace posts earnings beat, plans $7B buyback
American Air stock drops as 2025 profit forecast falls short
This article was originally published by a finance.yahoo.com . Read the Original article here. .