Nasdaq 100: Amazon Gains Ahead of Earnings as Nvidia Climbs, Semis Struggle

S&P 500 and Nasdaq Gain as Earnings Lift Consumer and Tech Stocks

The S&P 500 and Nasdaq advanced on Thursday, supported by strong earnings from consumer and technology companies. The Dow Jones Industrial Average fell, dragged lower by Honeywell and Ford. Investors continued to assess trade policy developments and awaited the key nonfarm payrolls report.

Consumer Stocks Rally as Tapestry and Philip Morris Surge

Consumer staples and discretionary stocks led gains, with Tapestry soaring 12.3% after raising its annual sales and profit forecast. Ralph Lauren jumped 13% following a strong earnings report, marking its best trading day in nearly a year.

Philip Morris surged 9.4% after reporting better-than-expected earnings and revenue, fueled by strong demand for its smoke-free products, including Zyn nicotine pouches. The gains pushed the stock to a record high.

Technology Sector Sees Mixed Performance as Amazon Rises, Semiconductors Fall

Amazon gained nearly 1% ahead of its post-market earnings release, while Nvidia added to the sector’s gains. However, semiconductor stocks struggled. Skyworks Solutions plunged 24% after issuing a weaker-than-expected revenue forecast, citing weakness in its mobile segment.

Qualcomm fell 4.7% as executives warned that its lucrative patent-licensing business would see no growth this year after the expiration of a key Huawei agreement. Arm Holdings also declined 3%.

Industrials and Automakers Drag the Dow Lower

Honeywell tumbled 6.3% after announcing plans to split into three separate companies and issuing a disappointing sales forecast. The decline weighed on the Dow.

Ford Motor dropped 6% after forecasting up to $5.5 billion in losses for its electric vehicle and software divisions this year. The automaker’s outlook raised concerns about the profitability of its EV strategy.

Financials and Real Estate Stocks Post Modest Gains

Financial stocks moved higher, with JPMorgan and Goldman Sachs reaching fresh all-time highs. The sector benefited from stable Treasury yields and continued expectations that the Federal Reserve will hold rates steady in March.

Real estate stocks also edged higher, with Welltower and CBRE setting new record highs. Investors continue to favor defensive plays in the sector.

What’s Next for the Market?

Traders are closely watching Friday’s nonfarm payrolls report, a key indicator for the labor market and Federal Reserve policy decisions. Markets currently expect the Fed to keep rates unchanged in March, with a possible rate cut in June.

While geopolitical concerns, including new trade tariffs, remain in focus, earnings results are driving stock-specific movements. With several major reports still to come, traders should expect continued volatility in individual names and sectors.

More Information in our JPMorgan.