Major U.S. stock indexes rose to close near all-time highs on Thursday after data showed wholesale inflation slowed slightly in January and President Trump signed a softer-than-expected executive order on tariffs.
The Nasdaq Composite rose 1.5% Thursday afternoon, while the S&P 500 added 1% to close less than 0.1% shy of a record close. The Dow Jones Industrial Average advanced 0.8%, putting it just 0.7% off its record. Stocks finished mostly lower yesterday after data showed inflation picked up last month, possibly complicating the Fed’s path toward a neutral interest rate.
The Producer Price Index rose 0.4% last month, more than economists were expecting but less than December’s 0.5% increase. Core PPI, which excludes volatile food and energy prices, rose 0.3%, also a deceleration from December.
The report made traders a little more optimistic that there will be more interest rate cuts this year, according to CME Group’s FedWatch Tool. Treasury yields slid after the report, with the 10-year yield falling to 4.54%, erasing all of yesterday’s CPI-related jump.
President Trump on Thursday signed an executive order instructing agencies to look into imposing reciprocal tariffs. The order stopped short of actually imposing any new levies.
Big tech stocks were mostly higher on Thursday, led by Tesla (TSLA), up nearly 6% after briefly being included in a State Department spending forecast. Nvidia (NVDA) shares rose about 3%, and Apple (AAPL) gained 2%. The remainder of the Magnificent Seven rose, including Meta Platforms (META), which notched its nineteenth consecutive positive session. Broadcom (AVGO) was the only trillion-dollar tech company to see its shares decline.
Shares of Cisco Systems (CSCO) rose 2% Thursday after the networking equipment maker beat quarterly earnings estimates and raised its full-year outlook. Marketing software provider Applovin (APP), already up more than 700% in the past year, soared 24% after releasing better-than-expected results.
On the other end of the spectrum, Reddit (RDDT) shares fell 5% on disappointing user growth, and machinery giant Deere (DE) slid 2% after it reported quarterly sales well below estimates. Software companies The Trade Desk (TTD) and Datadog (DDOG) slumped 33% and 8%, respectively, on earnings reports Thursday.
The price of Bitcoin was down slightly at $96,000 on Thursday. Gold futures were up at $2,960 an ounce, nearly an all-time high. West Texas Intermediate crude oil futures rebounded from an early slump to trade little changed at $71.50 a barrel.
Intel Stock Surges on Speculation of TSMC Deal
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Intel (INTC) shares jumped Thursday, extending their recent rally on speculation of a deal with Taiwan Semiconductor Manufacturing Company (TSM).
The storied chipmaker has been the subject of discussions involving a potential U.S. chipmaking partnership with TSMC, Baird analysts said Wednesday.
TSMC could send engineers to Intel’s foundry business as part of such a venture, and potentially launch a new entity jointly owned by TSMC and Intel that could benefit from U.S. government funding under the Chips Act, the analysts said. Intel’s foundry business has struggled to keep up with TSMC, losing $13.4 billion in 2024.
A TSMC spokesperson declined to remark on such a deal, while Intel did not immediately respond to a request for comment.
The discussions come as Vice President JD Vance said Tuesday the Trump administration wants artificial intelligence chips to be designed and manufactured domestically. Policies favoring U.S. chip manufacturers could benefit Intel’s foundry, which makes chips in the U.S. for third parties.
Shares of Intel popped over 9% to $24.52 in Thursday afternoon trading and have gained nearly 30% so far this week. However, even with recent gains, the stock is down more than 40% over the past 12 months.
Crocs Stock Pops After Topping Revenue Estimates
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Crocs (CROX) shares shot up more than 20% Thursday after the shoe company beat earnings estimates and projected that revenue growth would keep pace this year.
Crocs on Thursday reported revenue for the fourth quarter that exceeded Wall Street’s expectations, and a record $4.1 billion in revenue for the full year. For the fourth quarter, the company made $6.36 in diluted earnings per share (EPS) on $989.8 million in revenue—well above the analyst consensus estimate of $2.27 EPS on $962.6 million in revenue provided by Visible Alpha.
Results for the full year came in closer to expectations. Crocs reported $15.88 in diluted EPS on more than $4.1 billion in revenue, compared with the EPS of $12.91 on just under $4.1 billion in revenue that analysts anticipated, per Visible Alpha.
The company expects revenue to slip in the current quarter, but to grow 2% to 2.5% year-over-year for all of 2025. This forecast factors in the potential for unfavorable currency exchange rates and tariffs, CEO Andrew Rees said.
“Our fourth-quarter performance exceeded expectations across all metrics,” Rees said in a press release Thursday. “For 2025, we are expecting another year of revenue growth, led by mid-single-digit growth in the Crocs brand.”
The CEO also said the company is “pleased by the early signs of progress we made for [shoe brand] Heydude during the fourth quarter” and is taking a “prudent” approach toward 2025 guidance for the “reigniting” brand. Crocs’ third-quarter earnings beat reported in late October was overshadowed by sales weakness from the Heydude brand.
Shares of Crocs are off about 2% over the past 12 months.
Datadog Stock Slumps as Downbeat Projections Outweigh Q4 Results
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Datadog (DDOG) shares fell around 9% Thursday morning as weaker-than-expected projections for the first quarter and rest of 2025 offset a fourth quarter that topped estimates.
The software maker posted adjusted earnings per share of $0.49 on revenue of $738 million, each better than analysts had expected, according to estimates compiled by Visible Alpha.
Datadog said it had 462 customers with an annualized revenue run rate greater than $1 million at the end of the quarter, about 25 fewer such customers than analysts had expected.
Despite the strong fourth quarter, Datadog’s forecasts for the current quarter and full year mostly came in short of estimates.
The company expects first-quarter revenue and adjusted EPS between $737 million to $741 million and $0.41 and $0.43, respectively, compared to the $740.58 million and $0.46 per share analyst consensus.
The full-year projections of $3.175 billion to $3.195 billion and $1.65 to $1.70 per share were also below estimates, with the EPS range coming in well below the $2.04 per share that analysts had expected.
Shares of the software maker were down around 9% on Thursday and only up slightly from the same time last year.
MGM Resorts Stock Jumps on Strong China Casino Revenue
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Shares of MGM Resorts International (MGM) soared more than 15% to lead S&P 500 gainers Thursday, a day after the hotel and casino operator beat profit and sales estimates on strong China demand, and gave positive comments about 2025.
MGM reported fourth-quarter adjusted earnings per share (EPS) of $0.45, which was $0.08 above the consensus estimate of analysts surveyed by Visible Alpha. Even though revenue slipped less than 1% year-over-year to $4.35 billion, it also exceeded forecasts.
MGM China revenue grew 4% to $1.0 billion, “primarily to an increase in casino revenues from favorable hold compared to the prior year.” Casino sales also helped boost revenue 7% to $932 million at its Regional Operations, although the increase was “partially attributable to the effects of the union strike at MGM Grand Detroit in the prior year.” Digital revenue jumped 15% to $140 million as MGM expanded into new markets.
Las Vegas Strip Resorts revenue was the only laggard, falling 6% to $2.2 billion on a drop in casino and room revenues. It also faced a big comparison to last year’s fourth quarter, when the city hosted a major Formula 1 racing event.
CEO Bill Hornbuckle noted that the company not only got a boost from China, it also has been encouraged “by the strong demand we’re seeing in the business so far in 2025, which positions us well for continued growth.” Hornbuckle added that December was MGM’s best-ever convention booking month, and in January, it recorded revenue growth at its Las Vegas Strip Resorts and Regional Operations, along with strong future bookings.
Despite today’s advance, shares of MGM Resorts International are down about 12% in the last year.
IAC (IAC), the parent of Investopedia publisher Dotdash Meredith, holds a stake in MGM Resorts International.
GE HealthCare Stock Climbs on Q4 Profit Beat
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GE HealthCare (GEHC) shares rose on Thursday after reporting better-than-expected fourth-quarter profit, while sales were in line with analysts’ estimates.
The medical device maker reported adjusted earnings per share (EPS) of $1.45 on revenue of $5.32 billion. Analysts polled by Visible Alpha expected $1.26 and $5.32 billion, respectively.
GE HealthCare shares were up about 9% early Thursday afternoon, putting them up about 14% over the past year.
The company said it expects year-over-year organic revenue growth of 2% to 3% in 2025, “which reflects continued demand for our products and services as well as a measured view of market conditions in China.” GE HealthCare also projected adjusted EPS between $4.61 and $4.75, up 3% to 6% from the $4.49 it registered in 2024 and mostly above the $4.65 analyst consensus.
Last quarter, the former division of conglomerate General Electric topped profit estimates despite what it called “continued market softness” in China, which led GE HealthCare to say it was trending toward the lower end of its 1% to 2% full-year organic revenue growth projection. The firm’s 2024 organic revenue came in a $19.74 billion, up 1%.
Applovin Stock Soars After Earnings—Watch These Price Levels
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AppLovin (APP) shares soared nearly 30% on Thursday after the artificial intelligence (AI)-powered advertising platform topped Wall Street’s fourth-quarter earnings expectations and issued a better-than-expected current-quarter outlook.
The company, whose software helps monetize gaming apps with targeted ads, projected first-quarter revenue of between $1.36 billion and 1.39 billion, handily surpassing the $1.32 billion expected by analysts. Executives said $1 billion of net sales will come from AppLovin’s advertising segment, adding that the company is still in the early stages of bolstering its AI models.
With Thursday’s gains, Applovin shares are up about 1,000% in the past year. Below, we break down the technicals on AppLovin’s weekly chart and point out key post-earnings price levels worth watching.
Since reaching their all-time high (ATH) in early December, AppLovin shares consolidated within a pennant, a chart pattern that signals a continuation of the stock’s uptrend.
While the relative strength index (RSI) confirms bullish price momentum with a reading above 70, a move higher into overbought territory also increases the chances of dips linked to profit taking.
To forecast an upside price target, investors can use the measured move technique, also known by chart watchers as the measuring principle.
When applying the analysis to AppLovin’s chart, we calculate the distance of the uptrend that immediately preceded the pennant in points and add that amount to the pattern’s upper trendline.
For example, we add $357 to $397, which projects an upside price target of $754, an area where investors may decide to lock in profits.
During pullbacks, the stock could see an initial dip to around $290. This level on the chart may provide support near the pennant pattern’s low, which closely aligns with the closing price of a weekly wide-ranging bar in early November.
Selling below this level opens the door for a drop to around $168, a price where the shares may attract buying interest near the closely-watched 50-period moving average and a brief range of consolidation prior to last November’s election-driven surge.
Finally, a deeper correction in AppLovin shares could trigger a decline to lower support around $116. Investors who employ buy-and-hold strategies could seek entry points in this region near the stock’s prominent November 2021 swing high.
Tesla Stock Rises on Inclusion in State Department Spending Forecast
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Tesla (TSLA) shares rose more than 6% Thursday morning after a U.S. State Department forecast was reported Wednesday afternoon, revealing that the electric vehicle maker is a possible choice for an estimated $400 million contract for armored electric vehicles.
The line item for “Armored Tesla,” which was changed to “Armored Electric Vehicles” late Wednesday, appears to have been added to the State Department’s procurement forecast in December, between U.S. President Donald Trump’s election win and inauguration. The inclusion of Tesla in the spending forecast was first reported by independent outlet Drop Site on Wednesday.
The New York Times reported on Wednesday that some of that $400 million would go to Tesla for its vehicles, while some would also go to another third-party contractor that would add security features like bulletproof glass.
A State Department spokesperson told Investopedia that no contract has been awarded for armored EVs, and said the request was made by the Biden administration to ask EV makers if they would be interested in making armored vehicles for the government. The process that would open bidding to EV makers is currently on hold, so the line item should have listed a generic term rather than a specific company.
Around the same area in the procurement document, the Department also includes allocations for other armored vehicles, with German automaker BMW the only other specific company named. Those other three contracts are worth a combined $130 million. All four contracts are expected to be awarded in the fourth quarter of 2025.
Tesla did not immediately respond to requests for comment.
Reddit Stock Slides as User Growth Misses Estimates
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Reddit (RDDT) reported fourth-quarter earnings that topped analysts’ estimates, but its user growth fell short, sending shares lower on Thursday.
The social media platform saw revenue grow 71% year-over-year to $427.7 million, topping the analyst consensus compiled by Visible Alpha. Net income came in at $71 million, up from $18.5 million a year ago and above expectations. However, Reddit’s 101.7 million daily active users in the period fell short of the 103.24 million analysts were looking for, despite growing 39%.
Looking ahead, Reddit said it expects first-quarter revenue of $360 million to $370 million, compared to $243 million a year earlier and above the analyst consensus at the midpoint.
Shares of Reddit were down more than 4% at $206 Thursday morning. The stock closed at a record high Friday, and was up nearly sevenfold from its initial public offering price of $34 in March 2024 through Wednesday’s close.
Stock Futures Tick Up After January PPI
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Futures contracts connected to the Dow Jones Industrial Average were up 0.1% in premarket trading on Thursday.
S&P 500 futures were effectively unchanged.
Nasdaq 100 futures were nearly 0.2% higher.
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