Stock market today: Dow, S&P 500, Nasdaq move higher with Apple earnings in the wings
Published On Jan 30, 2025, 4:58 PM
US stocks experienced slight gains on Thursday as investors analyzed earnings from major technology companies and awaited Apple's results. The S&P 500 rose 0.5%, the Dow Jones gained nearly 0.4%, and the Nasdaq improved by 0.3%. Apple reported earnings that beat expectations but performed below estimates for iPhone sales and its Greater China region, causing its shares to dip by approximately 1%. Additionally, American Airlines expressed condolences after a tragic collision involving one of its jets. Economic indicators showed slower-than-expected growth for the US economy in the fourth quarter, with GDP at an annualized rate of 2.3%, which was below the anticipated 2.6%. Meanwhile, other tech companies like Microsoft and Nvidia faced declines influenced by disappointing earnings and market competition, while UPS experienced a notable drop due to reduced delivery volumes for Amazon.
Stock Forecasts
AAPL
Negative
Despite mixed sentiment from the earnings of major tech leaders, Apple has faced significant pressure from its iPhone revenue falling short of expectations and continuing difficulties in the Greater China market. Overall investor confidence has been shaken given these factors, as well as a weaker than expected GDP growth projection for the US economy, leading to anticipatory selling. Investors should remain cautious about Apple's short-term prospects, especially given the recent downgrades from analysts. As such, a negative outlook is predicted for AAPL as it adjusts to these headwinds.
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