#earnings-reports

#earnings-reports

The markets are off to the races today as they round out trading for the first month of 2026. Technology stocks are in focus with several Mag 7 names on deck to report their quarterly earnings, including Apple ( Nasdaq: AAPL) and Meta Platforms ( Nasdaq: META), both of which are advancing by over 1% this morning. Small-cap stocks are relatively flat, with the Russell 2000 down fractionally. Meanwhile, precious metal gold has surpassed the $500/ounce threshold for the first time in history, sending mining stocks higher.

The only real government news we have today is an unemployment report from the Department of Labor, which says first-time filings for unemployment benefits for the week ended November 22 were only 216,000. That's 6,000 fewer than last week, and a smaller number than the 225,000 claims that economists predicted. It's also, according to CNBC, the smallest number of new unemployment benefit claims seen since April 12.

The Vanguard S&P 500 ETF is down less than 0.1% as investors await Fed interest rate clues, with a focus on Powell's hints about lowering rates.

Earlier in the week, trade deals with Japan and Indonesia contributed to pushing the market to record highs, and the possibility of a deal with the European Union adds to optimism. The Vanguard S&P 500 ETF reached an all-time high of 583.20, with a promising outlook for further gains. Key factors influencing the sustainability of this rally include both successful trade negotiations and the mixed results of earnings reports. Some companies, like Intel, reported losses despite exceeding revenue expectations, while others, like Deckers, had brighter earnings news, indicating a divided performance among major players.

The Vanguard S&P 500 ETF closed at a new all-time high Thursday, 577.18, and seems to be aiming for a repeat Friday, rising 0.2% in premarket trading.

Greif remains in a year-to-date drawdown following three consecutive EPS misses, despite strong free cash flow and a rebounding stock price.

The ADP report indicated only 37,000 jobs were added in May, significantly below the forecast of 110,000 and also lower than April's figures.

The OECD lowered growth forecasts for the U.S. economy, predicting a decline from 2.8% in 2024 to just 1.6% this year and 1.5% in 2026.

In a shocking development, the U.S. Court of International Trade declared President Trump's April 2 'reciprocal tariffs' illegal, citing that he exceeded his authority to regulate importation.

The Labor Department reported that seasonally adjusted claims for unemployment insurance reached 241,000 last week, indicating a struggling economy which might prompt interest rate cuts.

Despite the sharp downturn due to trade concerns, the US stock market made a strong recovery driven by tech stock performance and easing trade tensions.