Main U.S. equity indexes rise; Nasdaq out front, up ~0.8%
Cons Disc leads S&P 500 sector gainers; Industrials sole loser
Euro STOXX 600 index up ~1%
Dollar down; crude dips; bitcoin off >1.5%; gold up
U.S. 10-Year Treasury yield falls to ~4.55%
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WALL STREET RISES WITH EARNINGS HELP EVEN AS INFLATION STICKS
Wall Street's three major indexes are gaining early on Thursday as investors digest the latest earnings reports and a U.S. inflation report, which came in ahead of expectations.
U.S. producer prices increased solidly in January, offering more evidence of inflation picking up again and solidifying trader views that the Federal Reserve would not be cutting interest rates before the second half of the year.
Still, the benchmark S&P 500 index .SPX is drawing its biggest boosts from megacap stocks such as Nvidia NVDA.O, Tesla TSLA.O and Apple Inc AAPL.O.
Cisco Systems CSCO.O, up 4.7%, is also providing a major boost after the networking gear maker lifted its annual revenue forecast on strong AI-driven demand and reassured investors that U.S. tariffs would not have a big impact on its business.
Nearly all S&P 500 sectors are higher. Consumer discretionary .SPLRCD is the biggest percentage gainer with casino hotel stocks among the biggest advancers.
Shares of MGM Resorts MGM.N are jumping 15% after it beat Q4 profit and revenue expectations. Rivals Caesar's CZR.O, Wynn Resorts WYNN.O> and Las Vegas Sands LVS.N appear to be basking in the glow of MGM's news as they joined in the rally.
Healthcare .SPXHC is inching higher. However, West Pharmaceuticals WST.N, is down ~31% after it forecast 2025 results below expectations due to a strong dollar and a reduction of inventory among its clients.
Here is your morning trading snapshot:
(Sinéad Carew)
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FOR THURSDAY'S EARLIER LIVE MARKETS' POSTS:
U.S. STOCK FUTURES HIGHER, YIELDS LOWER, DESPITE HOT PPI - CLICK HERE
EUROPEAN DEFENCE: "THIS IS JUST THE START OF A SUPER-CYCLE" - CLICK HERE
THREE REASONS WHY EUROPEAN NATURAL GAS PRICES CAN FALL - CLICK HERE
HERE'S WHY THE ECB SHOULDN’T FOLLOW A HAWKISH FED - CLICK HERE
ANOTHER DAY, ANOTHER STOXX RECORD - CLICK HERE
EUROPE BEFORE THE BELL - UKRAINE PEACE TALKS TOP OF MIND - CLICK HERE
MORNING BID UKRAINE TALKS ABSORB US INFLATION SHOCK - CLICK HERE
Wall Street indexes rise https://tmsnrt.rs/4hTXKWs
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