Equity Alert
US mkt ends up Thu led by IT cos, likely strong earnings season
This story was originally published at 08:03 IST on 24 October 2025
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Equity Alert: US mkt ends up Thu led by IT cos, likely strong earnings season
MUMBAI--0748 IST--Equity indices in the US ended higher Thursday, led by gains in technology stocks as strong earnings reported by some companies in the sector boosted investors' sentiment. Indices rose further after White House Press Secretary Karoline Leavitt confirmed the meeting between US President Donald Trump and Chinese President Xi Jinping next Thursday in South Korea. The announcement soothed traders' concerns about US-China trade tensions, which had pressured equities in the previous session.
"The Trump-Xi confirmation is clearly positive... that's a good checkpoint for sentiment, which has been really up-and-down on trade and that's obviously playing a role today (Thursday)," Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina was quoted by Reuters as saying.
Shares of automation company Honeywell gained nearly 7?ter it posted better-than-expected quarterly results and raised its full-year guidance. Shares of American Airlines rose 6?ter its September quarter loss narrowed and the management delivered an upbeat guidance.
The technology-heavy Nasdaq Composite rose nearly 1?ter shares of technology heavyweights Nvidia, Broadcom and Amazon rose more than 1%. Shares of artificial-intelligence company Oracle advanced nearly 3%. Quantum computing stocks rose after media reports said the Trump administration was in talks with several of them to take equity stakes in exchange for federal funding, Reuters reported. IonQ, D-Wave Quantum, Quantum Computing and Rigetti Computing gained 7-14%.
Tesla, which was the first of the "magnificent seven" to release its earnings, gained more than 2?ter bouncing back from earlier losses following a mixed earnings report. The company reported a 12% on-year increase in its September quarter revenue. However, its earnings missed analyst estimates. Shares of IBM fell nearly 1?spite higher-than-expected earnings after the company reported a slowdown in its cloud software segment.
"While we are seeing individual stocks get punished after missing expectations, we expect earnings overall to be strong enough to keep stock prices elevated in the near-term... this current earnings season is unlikely to disappoint investors enough to trigger a notable market setback," Emily Bowersock Hill, chief executive officer, Bowersock Capital Partners, was quoted by Reuters as saying.
Crude oil prices soared on the US administration's decision to sanction Russian oil companies in an attempt to put pressure on Russian President Vladimir Putin over ending the Ukraine war. Shares of Exxon Mobil and Chevron advanced around 1?ch.
Traders await US inflation data, due Friday, which is expected to give cues about the country's economic health ahead of the Federal Reserve's meeting later in the month. The apex bank is widely expected to cut benchmark interest rates by 25 basis points.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6738.44 |
0.58 |
|
NASDAQ Composite |
22941.80 |
0.89 |
|
Dow Jones Industrial Average |
46734.61 |
0.31 |
(Eshitva Prakash)
End
US$1 = INR 87.84
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
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