U.S. stocks showed a mix of performances on Thursday, with the Nasdaq Composite edging lower while the Dow and S&P 500 saw modest gains.
The Dow traded up 0.25% to 37,900.45, and the S&P 500 also rose, gaining 0.19% to 4,877.88. In contrast, the NASDAQ fell 0.13% to 15,462.53.
Energy shares rose by 1.7% on Thursday, while consumer discretionary shares fell by 1.5%.
American Airlines Group Inc’s Upbeat Earnings
American Airlines Group Inc AAL reported better-than-expected fourth-quarter results, with a 75% drop in adjusted earnings to 29 cents per share. However, this still beat the consensus estimate of 10 cents per share. Total revenue decreased 1% to $13.06 billion, slightly surpassing estimates of $13.02 billion. The company also expects full-year 2024 adjusted earnings per diluted share of $2.25-$3.25 versus the consensus of $2.25.
Market Movements
Thursday’s standout stocks included Vera Therapeutics, Inc. VERA, Processa Pharmaceuticals, Inc. PCSA, and American Superconductor Corporation AMSC, which all experienced significant upticks. Conversely, RedHill Biopharma Ltd. RDHL, MarineMax, Inc. HZO, and Columbia Banking System, Inc. COLB saw declines in their stock values.
Commodities and Global Markets
In commodity news, oil traded up 2.7% to $77.09, and gold traded up 0.1% at $2,018.20. Additionally, silver traded up 0.1% to $22.915, while copper fell 0.6% to $3.8635 on Thursday. European shares and Asia Pacific markets displayed mixed performances as well.
US Economic Data
Several key economic indicators were released, including a 3.3% annualized growth in the US economy for the fourth quarter. Initial jobless claims increased by 25,000 to 214,000 in the week ending Jan. 20, and the US trade deficit in goods narrowed to $88.5 billion in December. The Chicago Fed National Activity Index declined to -0.15 in December as well. Other data points such as wholesale inventories, durable goods orders, and natural-gas supplies were also reported.