Mixed Start to Thursday as Earnings Reports Continue
US stock markets started the day in mixed fashion on Thursday as more companies reported their quarterly earnings. The S&P 500 was essentially flat, while the Dow Jones Industrial Average edged up by 29 points. In contrast, the Nasdaq composite fell 0.2%. Some notable performers included Keurig Dr Pepper, which jumped 3% after beating expectations for earnings and revenue. Honeywell Aerospace, on the other hand, lost about a quarter of its value due to disappointing results.
The price of Brent crude oil rose by 2%, while US benchmark crude oil ticked up about 1%. This increase in oil prices has been a concern for investors due to its impact on inflation. The Strait of Hormuz situation remains uncertain, but President Donald Trump said that a deal to reopen the waterway is coming soon.
Asian markets closed mostly lower overnight, with the Kospi losing 4.6% and Japan's Nikkei 225 falling by 0.9%. In contrast, European markets were higher, with Germany's DAX gaining 0.18% and Britain's FTSE 100 adding 0.08%