Stock market today: live updates

Information technology was the top performing sector in the S&P 500 as Broadcom’s results bolstered investor optimism in artificial intelligence. It was one of four sectors trading in positive territory in early trade.

The sector had an increase of 0.8%, with the main share Broadcom Collecting more than 21%. Micron Technology shares rose almost 3%, and Arista Networks More than 4% came out.

The S&P 500 itself gained 0.1%.

—Sarah Min

Shares of Broadcom were up more than 22%.

– Brian Evans

Goldman Sachs Vice Chairman Robert Kaplan, also a former president of the Federal Reserve Bank of Dallas, is seeking a slower pace of Federal Reserve rate cuts.

“Inflation, I think, looks a little bit stuck here. Some things are better, like services. Some things are worse, like food and autos,” Kaplan said Friday on CNBC’s “Squawk Box,” adding that the benchmark rate looks “safe.” Between 4.25% and 4.5%.

But higher interest rates are necessary to keep up with the government’s current level of spending, Kaplan said, adding that he wants to see how major spending programs will be handled under the new presidential administration. He also wants to see more growth in the workforce, which is disinflationary and has allowed rates to be reduced so far, he added.

“Are we going to get better control of fiscal spending and not be so stimulative? We have an extraordinary level of fiscal spending right now … and I think some of that strength is, I think, at the margin, a little bit artificial,” he said. “This (Fed rate decision) is not foolhardy.”

— Pia Singh

A strong fourth quarter report should be in place PayPalWolfe Research is gearing up for another big year in 2025.

Analyst Darrin Peller upgraded the payments stock to outperform peers. PayPal’s shares are up more than 40% this year, but there’s still a path for fundamental improvement ahead, Peller said in a note to clients.

“We see strong 4Q results and conservative FY25 guidance. We believe PYPL’s Investor Day on February 25 will highlight a path from 4%+ GP (non-float) growth in 2025 to MSD-HSD gross profit growth and HSD. GP growth over the longer term,” said the note.

Peller also noted that PayPal has the largest monthly user base of any digital wallet company outside of China.

“Under the right leadership team, we see many opportunities to monetize this foundation,” the statement said.

Peller set a $107 per share price target for PayPal, which is about 19.7% above where the stock closed Thursday.

PayPal shares rose nearly 2% in premarket trading.

– Jesse Pound

Here are some of the stocks moving before the bell on Friday:

• Broadcom – Shares rose almost 18% after the semiconductor manufacturer announced the tax fourth quarter earnings that beat Wall Street’s expectations.
• RH – Shares of the luxury furniture retailer rose nearly 18% in premarket trading after raising guidance for financial performance.
• Penn Entertainment – Online sports betting stocks rose 5% on the back of JPMorgan renewal overweight to neutral.

See the full list here.

– Alex Harring

Amazon’s fourth quarter e-commerce trends are still slightly above initial estimates, according to Baird.

The firm raised its price target on Amazon shares to $260 from $220, implying a 13.5% upside from Thursday’s close.

Analyst Colin Sebastian mentioned expanding the contributions of the AI ​​creator and driving trends in the cloud services segment.

“Our checks are also positive with continued market share gains as consumers respond to low prices and fast shipping. This (is) despite increasing competition from Shopify/Temu/Walmart/Shein/TikTok Stores,” Sebastian wrote in a note on Friday.

– Hakyung Kim

shares of Broadcom It rose more than 18% in premarket trading, following the chipmaker’s fourth-quarter earnings that topped Wall Street expectations and its CEO Hock Tan said the company. developing custom artificial intelligence chips with three major cloud clients.

For the period, Broadcom posted earnings of $1.42 per share, while analysts polled by LSEG wrote earnings of $1.38 per share. Revenue, however, was weaker than expected, with the company posting $14.05 billion versus the consensus $14.09 billion.

This year, the stock has outperformed the broader market’s strong performance, rising nearly 62% year to date.

– Sean Conlon, How to Leswing

European shares fell on Friday after disappointing data prints from the UK and Germany.

Europe’s Stoxx 600 was down 0.2% by 10:25 a.m. in London, with healthcare and mining stocks among those that pushed the index into negative territory.

Investors were reacting to unexpected contractions in both Print UK GDP for October and Germany’s main export data.

Sterling was lower against the dollar, while the euro was lower against the greenback.

— Chloe Taylor

Chinese shares led losses in Asia as Beijing’s assertions about its economic policies appeared to fall far short of investors’ expectations.

China’s mainland CSI 300 lost 2.37% to end at 3,933.18, while Hong Kong’s Hang Seng index fell 1.83% in its final hour of trading.

Most other Asia-Pacific markets also fell, following Wall Street’s decline warmer than expected producer price inflation reading.

The outsider belonged to South Korea KospiIt gained 0.5% to close at 2,494.46, marking a four-day winning streak, while small-cap Kosdaq rose 1.52% to 693.73, also posting its fourth straight win.

– Lim Hui Jie

Here are the stocks making the biggest moves after the bell on Thursday:

• Broadcom – Shares rose 14% after the company posted better-than-expected earnings and said he is seeing strong demand as he develops custom artificial intelligence chips. The company delivered stronger-than-expected guidance in the fourth quarter and in the semiconductor solutions group.
• RH – RH rose nearly 18% despite posting third-quarter earnings that missed Wall Street estimates. The company raised its fourth-quarter guidance and said revenue growth will be between 18% and 20%, versus LSEG’s estimate of 7.1%.

— Samantha Subin