Stocks rose with bids for the S&P 500 index closing above 5,000

Stocks traded in the green to start the day on Friday, signaling another record-breaking session as investors applauded a revision to December inflation data that showed it was even lower than first reported.

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

A stream of well-received quarterly earnings buoyed stocks in a weak week on economic updates, which have been driving shifts in trend thanks to their importance in the Federal Reserve's thinking on policy.

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

Given this, investors watched Friday's CPI revisions more closely than usual. Fed officials stressed that they are taking the time to verify that price pressures are indeed subsiding before making any interest rate cuts.

PepsiCo's (PEP) results took center stage on Friday as the pace of corporate earnings began to slow. Shares fell more than 2% in morning trading after the soft drink and snack company's sales beat Wall Street estimates amid rising prices.

He lives2 updates

  • Stocks are trending in morning trading

    Here are some of Yahoo Finance's leading stocks Trend indicators Page during morning trading on Friday:

    Cloudflare (NET): The cloud networking and cybersecurity services company continues to climb Friday morning after the company released fourth-quarter earnings with revenue of $362.5 million for the quarter, an increase of 32% compared to last year. The company also expects first-quarter revenue to range from $372.5 million to $373.5 million, which beats Wall Street expectations.

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

    PepsiCo (PEP): The beverage and snacks giant's stock fell more than 3% after it reported fourth-quarter earnings that beat analysts' estimates but failed to meet revenue expectations.

    Expedia (EXPE): Shares fell nearly 20% after the company said it expects revenue growth rates this year to moderate as airfare prices decline from post-pandemic highs. Late Thursday, the air travel company also said CEO Peter Kern will step down and will be replaced by Ariane Goren from within the company.

  • Stocks open higher, chasing the S&P to close at 5,000 points

    Stocks opened mostly higher on Friday morning, sending the S&P 500 higher to close above 5,000, after December's inflation reading was revised 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 Nasdaq Composite (^IXIC) led the way higher, up 0.3%.

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