Stocks rise as S&P 500 tries to close above 5,000 | Top Vip News


Stocks traded in the green at the start of the day on Friday, pointing to another record session as investors cheered a revision to December inflation data that showed it was even lower than initially reported.

The S&P 500 (^GSPC) rose 0.1% after Thursday’s hard-won record close put the benchmark index within three points of finishing above 5,000 for the first time. The Dow Jones Industrial Average (^DJI) fell below the flat line, while the tech-heavy Nasdaq Composite (^IXIC) led the way higher, gaining 0.3%.

A stream of well-received quarterly earnings has boosted stocks in a lean week thanks to economic updates, which have been driving changes in direction thanks to their importance to the Federal Reserve’s thinking on policy.

Read more: What the Fed’s rate decision means for bank accounts, CDs, loans and credit cards

As a result, investors followed Friday’s consumer price index revisions more closely than usual. Federal Reserve officials have emphasized that they are taking time to verify that price pressures are truly easing before making any interest rate cuts.

PepsiCo (PEP) results took center stage Friday as the pace of corporate earnings begins to slow. Shares fell more than 2% in morning trading after the soft drink and snack giant’s sales missed Wall Street estimates amid price increases.

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  • Trending Stocks in Morning Trading

    These are some of the stocks that lead the Yahoo Finance ranking. trend tickers page during morning trading on Friday:

    Cloudflare (NET): The cloud cybersecurity and network services company continues to rise Friday morning after the company posted its fourth-quarter earnings with revenue of $362.5 million for the quarter, up from 32% compared to last year. The company also forecast a first-quarter revenue range of $372.5 million to $373.5 million that beat Wall Street expectations.

    Pinterest (PINS): Shares fell more than 10% on Friday after its first-quarter revenue forecast came in slightly below expectations. The weaker outlook was a warning sign for investors as other smaller technology companies fight for market share against giants Google and Meta.

    PepsiCo (PEP): The beverage and snack giant fell more than 3% after reporting fourth-quarter earnings that beat analyst estimates but missed revenue expectations.

    Expedia (EXPE): Shares fell nearly 20% after the company said it expects revenue growth rates this year to moderate as airfares come down from their post-pandemic highs. Late Thursday, the air travel company also said that CEO Peter Kern will resign from his position and will be replaced by company insider Ariane Gorin.

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    Stocks open higher as S&P chases 5,000 close

    Stocks opened mostly higher on Friday morning, setting up the S&P for a close above 5,000, after December’s inflation reading was revised even lower than initially thought.

    The S&P 500 (^GSPC) rose 0.1%. The Dow Jones Industrial Average (^DJI) fell below the flat line, while the tech-heavy Nasdaq Composite (^IXIC) led the way higher, gaining 0.3%.

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