Netflix was another one of the strongest forces lifting the S&P 500. It rose another 3.2 per cent after jumping 9.7 per cent the day before following a better-than-expected profit report.
Union Pacific chugged 5.2 per cent higher after beating analysts’ expectations for profit in the latest quarter. The railroad said its workforce was more productive during the quarter, and its fuel consumption rate likewise improved.
American Airlines lost 8.7 per cent even though it reported stronger profit and revenue for the latest quarter than analysts expected. It said it may report a bigger loss for the first three months of 2025 than analysts expected. American also gave a forecasted range for profit over the full year whose midpoint fell short of analysts’ expectations.
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Video game maker Electronic Arts dropped 16.7 per cent after it warned of a slowdown in revenue related to its soccer game, EA Sports FC25. It also said fewer gamers played its Dragon Age game during the latest quarter than it expected, further cutting into its revenue.
All told, the S&P 500 rose 32.34 points to 6,118.71. The Dow Jones Industrial Average climbed 408.34 to 44,565.07, and the Nasdaq composite added 44.34 to 20,053.68.
In stock markets abroad, movements were mostly quiet, even after China’s latest attempt to juice stock prices in the world’s second-largest economy. Stocks in Hong Kong got a brief boost from China’s ordering of pensions and mutual funds to invest more in domestic stocks, for example, but the Hang Seng index ended with a dip of 0.4 per cent.
Japan’s Nikkei 225 gained 0.8 per cent despite a sharp drop for Fuji Media Holdings after Masahiro Nakai, a top TV host and former pop star, said he was retiring to take responsibility over sexual assault allegations that are part of a wave roiling Japan’s entertainment industry. The Fuji TV scandal triggered an avalanche of lost advertising at one of the networks where he worked.
In the cryptocurrency market, where prices have surged on hopes President Donald Trump will make Washington friendlier to the industry, bitcoin fell below $US103,000, according to CoinDesk. It had set a record above $US109,000 on Monday.
AP
