The S&P 500, Dow, and Nasdaq climbed at midday on Thursday, Jan. 25, 2024 following a report the U.S. economy grew more than expected in the fourth quarter.
IBM shares surged after it beat profit and sales forecasts as its artificial intelligence business soared.
Humana’s stock price tumbled after warning profits through 2025 would be hurt by rising medical costs and government regulations.
The S&P 500, Dow, and Nasdaq climbed at midday after the government reported the U.S. economy
grew more than expected
in the fourth quarter.
American Airlines Group (
AAL
) soared as the airline beat forecasts for earnings, revenue and guidance on higher demand for air travel.
Shares of IBM (
IBM
) gained after the tech giant posted
better-than-expected results
and said its
artificial intelligence (AI)
business boomed.
United Rentals (
URI
) shares were up as the company reported profit and sales that were above estimates as it benefited from a 14% rise in equipment rental income.
Humana (
HUM
) was the worst-performing stock in the S&P 500, and shares of rivals sank as well, after Humana warned that higher medical costs and government regulations could hurt profits through 2025.
Shares of Tesla (
TSLA
) sank as the electric vehicle (EV) maker
missed profit and sales estimates
and warned of a slowdown in volume growth in 2024.
Boeing (
BA
) shares dropped after federal regulators
blocked
the plane maker from expanding production of its 737 Max planes following a
mid-flight incident
involving a Boeing 737 Max 9.
Oil and gold futures advanced. The yield on the 10-year Treasury note fell. The U.S. dollar climbed versus the euro, pound, and yen. Prices for most major cryptocurrencies lost ground.
