Stocks rise slightly as S&P 500 index closes above 5,000

Stocks opened in the green on Friday, signaling another record-breaking trade as investors hailed a revision to December inflation data that showed it to be even lower than initially reported. .

The S&P 500 (^GSPC) rose 0.1% after Thursday's hard-earned record close brought the benchmark above 5,000 for the first time and within three points of closing. The Dow Jones Industrial Average (^DJI) fell below the flat line, but the tech-heavy Nasdaq Composite Index (^IXIC) led the way, rising 0.3%.

Stocks have risen over the past week despite a string of strong quarterly results and a lack of economic updates. The economic update is prompting a change in direction due to its importance to the Federal Reserve's policy thinking.

read more: Impact of Fed interest rate decisions on bank accounts, CDs, loans, and credit cards

Given this situation, investors watched Friday's revision of the consumer price index more closely than usual. Fed officials have emphasized that they are taking their time to ensure that price pressures have truly subsided before cutting rates.

PepsiCo (PEP)'s results were in the spotlight Friday as the pace of corporate earnings begins to slow. Shares fell more than 2% in morning trading after the soda and snack giant's sales fell short of Wall Street expectations amid soaring prices.

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Friday, February 9, 2024 7:28 a.m. PST

Stock prices rise in morning trading

Here are some of the leading stocks on Yahoo Finance. trend ticker Page during Friday morning trading:

Cloudflare (NET): The network services and cloud cybersecurity company continued its rise after reporting fourth-quarter earnings on Friday morning, with revenue for the quarter at $362.5 million. , an increase of 32% compared to the previous year. The company also expected first-quarter revenue in the range of $372.5 million to $373.5 million, which exceeded Wall Street expectations.

Pinterest (PINS): Shares fell more than 10% on Friday after the company reported slightly lower than expected first-quarter revenue. The weakening outlook sent a warning sign to investors as other smaller technology companies compete for market share with giants Google and Meta.

PepsiCo (PEP): The beverage and snack giant fell more than 3% after the company said fourth-quarter revenue beat analysts' expectations but missed revenue expectations. .

Expedia (EXPE): Shares fell about 20% after the company said it expects revenue growth to moderate this year as airfares fall from post-pandemic highs. The air travel company announced late Thursday that Chief Executive Officer Peter Kahn will step down and be replaced by company insider Ariane Gorin.
Friday, February 9, 2024 6:39am PST

Stock prices start rising as S&P aims for a closing price of 5,000 yen

Stocks opened mostly higher on Friday morning, with the S&P closing above $5,000 after December's inflation rate was revised lower than originally expected.

The S&P 500 (^GSPC) rose 0.1%. The Dow Jones Industrial Average (^DJI) fell below the flat line, but the tech-heavy Nasdaq Composite Index (^IXIC) led the way, rising 0.3%.