Markets
Here are today’s market moves:
What Happened?
The S&P 500 and other major U.S indexes booked a third straight day of gains on Thursday as investors focused on positive earnings reports.
According to FactSet, around a fifth of S&P 500 companies have reported their results so far and the majority of them have beaten expectations.
The Labor Department said initial jobless claims rose by 51,000 to 419,000 last week, the highest level in two months.
The Fed closely monitors labor market data to determine monetary policy, so higher unemployment numbers means the Federal Reserve can continue offering monetary stimulus for longer.
Shares of Snap and Twitter climbed higher in after-hours trading – 17% and 6% respectively – following strong quarterly earnings reports.
The crypto market climbed on Thursday, with Bitcoin trading above $32k, following a strong bounce from the $30,000 support level.
What Else?
This Week
Monday: Earnings expected from IBM.
Tuesday: Earnings expected from Chipotle and Netflix.
Wednesday: Earning expected from Coca-Cola, Johnson & Johnson, United Airlines, and Verizon.
Thursday: Earnings expected from Blackstone, Domino’s, Intel, Snap, and Twitter.
Friday: Earnings expected from American Express and Honeywell.