Stocks surged higher on Thursday, with the S&P 500 index aiming to snap a four-day losing streak as investors assess the latest wave of corporate earnings.
During midday trading in New York, all major indices were in the green. Notably, small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), outperformed, posting a 1% increase.
Industry-wise, airline stocks continued their upward momentum, with the U.S. Global Jets ETF (NYSE:JETS) climbing 2.7%, building on Wednesday’s 3.9% surge.
Tesla Inc. (NASDAQ:TSLA) had another lackluster session, declining over 3% and on track for its lowest close since January 2023. This decline followed Deutsche Bank’s downgrade of the EV-maker from Buy to Hold, citing concerns over the strategic pivot to autonomous vehicles.
On the data front, the Philadelphia Fed Manufacturing Index posted ...Full story available on Benzinga.com
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