US Stocks Edge Higher as Corporate Profits Remain Strong
US stock futures rose slightly on Thursday after a mixed finish on Wall Street on Wednesday. The S&P 500 index spent most of the day higher before falling 12.97 points, or 0.2%, to close at 7,723.55.
The Dow Jones industrial Average rose 263.24 points, or 0.5%, to 54,349.12, reaching another record. The Nasdaq fell 221.55 points, or 0.8%, to 26,363.44, weighed down by big technology companies losing ground.
Mark Hackett, chief market strategist at Nationwide, said the S&P 500 Index surged to record highs for the first time in two months. The Walt Disney Co. rose 3.6% after easily beating Wall Street's profit forecasts, while Booking Holdings jumped 6.6% after reporting strong travel demand.
However, Elon Musk's SpaceX fell 13.6% following its first quarterly report as a public company, which showed sharply boosted spending on artificial intelligence. The price of Brent crude, the international standard, fell 0.1% to $79.45 a barrel.