Stocks edged higher on Thursday as investors turned their focus towards upcoming corporate earnings and an important labor report due later in the week.
The Dow Jones Industrial Average rose by 180 points, equivalent to a 0.5% increase. The S&P 500 also saw a gain of 0.4%, while the Nasdaq Composite experienced a 0.6% increase.
Qualcomm, a leading chipmaker, saw a 9% rise in its stock price following better-than-expected adjusted earnings and a positive revenue guidance.
In contrast, restaurant delivery service DoorDash witnessed a 13% drop after reporting a wider loss per share compared to Wall Street’s expectations. On the other hand, used-car retailer Carvana saw a significant 34% surge in its stock price after reporting its best-ever earnings after the market closed on Wednesday.
Source (CNBC)
