The US stock market took a breather after surging to near-record highs, with investors digesting mixed earnings reports from major companies. The S&P 500 remained flat, hovering near its all-time high. Airbnb surged after exceeding profit expectations, while Treasury yields fell following a report of weaker-than-expected retail sales.
NEW YORK — Wall Street is taking a pause after running to the brink of a record following some mixed profit reports from big U.S. companies. The S&P 500 was flat in early trading Friday and hovering around the all-time high it set last month. The Dow Jones Industrial Average slipped 56 points, or 0.1%, and the Nasdaq composite was up 0.1%. Airbnb charged higher after reporting stronger profit for the latest quarter than analysts expected as customers booked more nights on its platform.
Video streamer Roku also logged a big gain in premarket — 14% — after it posted a smaller loss than analysts were expecting. The company also beat sales targets as its quarterly platform revenue topped $1 billion for the first time. Economists broadly expect that trend to continue, though uncertainty over President Donald Trump's policies — particularly tariffs — could derail free-spending consumers, they say.
“There are much tailwinds for risk sentiments in the region to tap on, with the positive handover in Wall Street, weaker US dollar and lower Treasury yields,” Yeap Jun Rong, a market strategist at IG, wrote in a note.Chinese technology stocks listed on the Hong Kong stock exchange all gained on Friday, with stocks from video games firm Tencent and smartphone maker Xiaomi surging 7% while e-commerce firm Alibaba and online services firm Meituan gained over 6%.
WALL STREET STOCK MARKET EARNINGS RETAIL SALES AIRBNB TREASURY YIELDS
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