US stocks rise as crypto falls after Wall Street earnings disappoint
The post US stocks rise as crypto falls after Wall Street earnings disappoint appeared on BitcoinEthereumNews.com.
US stocks rallied on Tuesday after President Donald Trump temporarily paused tariffs on Mexico and Canada, but not on China, which gave Wall Street a break from escalating trade tensions and helped major indexes snap a two-day losing streak. The S&P 500 saw a 0.72% increase, the Dow Jones Industrial Average surged by 0.3%, and the Nasdaq Composite rose by 1.35%. Investors got a short-term boost as the tariff news hit the wires. Then corporate performance on Wall Street immediately soured the mood. Stock markets results come in Alphabet’s fourth-quarter results missed expectations, while AMD’s data center sales also fell short of projections, so shares of both companies tanked in extended trading. Tech stocks helped push the S&P 500 into the green despite weak earnings. Apple rose 2.1%, while Nvidia added 1.7%. Alphabet fell 3.4% after missing analyst expectations. AMD also saw its stock drop by 4% as its data center business underperformed. Screenshot of American stocks performance as of February 5 Banks had a mixed session. Bank of America rose 1.08%, and Wells Fargo gained 1.7%. JPMorgan lagged, slipping 0.23%. Payment giants Visa and Mastercard saw slight declines, while health tech saw a rebound. Eli Lilly’s stock rose nearly 2%. Meanwhile, global financial markets kept a close watch on US trade policy. South Korea’s Kospi surged over 1%, while Japan’s Nikkei increased by 0.1%. China’s CSI 300 couldn’t catch a break, falling 0.6%. Gold prices surged as geopolitical fears grew. Spot gold reached $2,854 an ounce, a record high after Trump imposed a fresh 10% tariff on Chinese imports. Beijing’s response was more subdued this time, unlike the tit-for-tat trade war retaliation seen during Trump’s first term. Still, uncertainty about future negotiations spurred haven demand. Trump brought on more tensions by proposing that the US take over reconstruction efforts…
Filed under: News - @ February 5, 2025 3:26 pm