S&P 500 hits intraday record before ending lower with Dow Jones and Nasdaq amid mixed corporate news

Major US stock indexes fell, breaking a four-session winning streak, but were still able to post their second straight weekly gain after President Donald Trump softened his tone on tariffs and called for lower interest rates and lower oil prices in the first week of his presidency. The white house.

Trump proposed imposing 25% tariffs on Canada and Mexico on February 1, later than his previous pledge to impose tariffs on his first day. He also mentioned only definitions – 10% discount on all Chinese importswhich will be much less than 60% suggested during the election campaign.

“This has left investors with a sense that his tariff plans will likely not only fall down the list of priorities, but may end up being much less aggressive than initially expected,” said Matthew Ryan, head of market strategy at the global financial services firm. Ebury.

Further fueling stock gains, Trump He told world leaders He said that during his meeting in Davos, Switzerland, on Thursday, he will demand a reduction in interest rates and ask Saudi Arabia and other oil-producing countries to reduce the cost of oil. Oil fell 0.09% to $74.55 per barrel.

The Standard & Poor’s 500 index closed down 0.29%, or 17.47 points, to 6,101.24 points, which is lower than its record close on Thursday at 6,118.71 points and the record level recorded during the day at 6,128.18 points near the opening. The Dow Jones Industrial Average fell 0.32%, or 140.82 points, to 44,424.25 points, and the Nasdaq technology stock index fell 0.5%, or 99.38 points, to 19,954.30 points. The yield on 10-year Treasury bonds fell to 4.617%.

Even though Trump said he would “Demand” lower interest ratesThe Federal Reserve is responsible for monetary policy and generally operates independently within the government.

The Fed is scheduled to meet next week and make a policy announcement on Wednesday. After a series of Powerful dataincluding A December jobs reportAlmost no one expected Fed to cut interest ratesAccording to CME’s FedWatch tool It tracks what the market believes are the odds of a price move.

The short-term federal funds target ranges between 4.25% and 4.5%.

With tariffs on the back of investors’ minds at the moment, they can turn their attention back to corporate news, especially earnings. Some of today’s top company news include:

• Verizon’s earnings in the final three months of last year exceeded analysts’ expectations. The wireless service provider also saw its best postpaid phone subscriber growth in five years, surprising analysts. Shares closed up about 1%.

• Novo Nordisk shares rose nearly 8.5% on positive early-stage results for the once-weekly obesity drug amicretin.

• Twilio issues stronger-than-expected earnings forecast, shares jump 20%

• Texas Instruments warned that its first-quarter earnings will miss analysts’ expectations as it faces a buildup of inventory in its key industrial and automotive markets. Shares finished down 7.5% on their worst day since March 2020.

• CSX shares fell nearly 3% after the carrier said fourth-quarter results were down due to a sharp decline in coal and fuel surcharge revenue.

• Intuitive Surgical stock fell 4.4% on its worst day since October 2023 after the company cut its gross margin forecast.

• Last night, Boeing warned of a larger-than-expected loss in the fourth quarter due to… long strike, Charges related to U.S. government projects and expenses associated with a large number of job cuts. Shares fell by 1.37%.

The story continues