US stocks rose on Thursday as investors eagerly awaited Netflix’s earnings report to kick off the earnings season. The S&P 500 gained 0.5%, the Dow Jones Industrial Average rose about 0.7%, and the Nasdaq Composite increased 0.4%.
Stocks have been struggling amid concerns about inflation and potential changes in interest rates by the Federal Reserve. This has put a spotlight on corporate earnings, with investors closely watching how companies perform against high expectations.
TSMC’s latest quarterly results were a mixed bag, with the Taiwanese chip giant cautioning on its growth outlook but also reporting a quarterly profit beat. The focus now shifts to Netflix, the first of the megacap tech companies to report earnings.
Meanwhile, the market is keeping an eye on the debate over potential interest rate cuts by the Federal Reserve. US bond yields slipped from recent highs, easing pressure on stocks.
In other news, Tesla shares slid to a 52-week low, Meta and Nvidia led a rebound in the S&P 500 and Nasdaq, and Bank of America’s CEO weighed in on the high levels of US debt.
Overall, the market remains active and investors are eagerly anticipating how companies will perform during this earnings season. Stay tuned for more updates as the day progresses.
