Equities Higher as Traders Parse Earnings, Macro Data

MT Newswires Live
02-14

US benchmark equity indexes were higher ahead of Thursday's close as markets analyzed the latest batch of corporate earnings and economic data.

The Nasdaq Composite was up 1.3% at 19,910.9, while the S&P 500 rose 1% to 6,109.8. The Dow Jones Industrial Average advanced 0.8% to 44,732.9. All sectors were higher, led by materials and technology.

Shares of MGM Resorts International (MGM) and AppLovin (APP) jumped following their latest quarterly financial results, while West Pharmaceutical Services (WST) and Trade Desk (TTD) saw steep declines.

Applied Materials (AMAT), Palo Alto Networks (PANW) and Airbnb (ABNB) are among the companies scheduled to report results after the closing bell.

The US 10-year yield was down 10.3 basis points at 4.53%, while the two-year rate lost 5.4 basis points to 4.31%.

US producer price growth rose more than the Street's expectations last month as wholesale costs of goods increased amid a jump in diesel fuel, the Bureau of Labor Statistics reported.

West Texas Intermediate crude oil was less than 0.1% higher at $71.43 a barrel.

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