The S&P 500 index has crossed an intra-day record high as it expands its multi-day winning streak, tacking on about 0.5%. The broader markets are being buoyed by Big Tech stocks including Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT), Broadcom (Nasdaq: AVGO) and Amazon (Nasdaq: AMZN) as the AI trade regains momentum.
Analysts are sending mixed signals on Amazon. Bank of America dialed back its price target to $286 from $303 but kept a “buy” rating intact, while Stifel lifted its price target to $300 from $295 amid bullish signals. Amazon stock is among today’s gainers, tacking on nearly 2% in the session.
Wall Street firm Goldman Sachs is bullish on the U.S. economy, forecasting that GDP growth will outpace most economist expectations in 2026. The firm points to fiscal tailwinds, easing inflation and a strong consumer as drivers of stronger momentum, arguing the economic expansion looks more resilient than many investors believe.
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This article will be updated throughout the day, so check back often for more daily updates.
The markets are trading mixed out of the gate as they prepare for data on the economy as well as from corporate America. The Fed kicks off its two-day meeting on the state of the economy in Washington, D.C. In addition to any potential decision on short-term interest rates, traders and investors will be watching and awaiting Big Tech earnings this week from the likes of Apple (Nasdaq: AAPL | AAPL Price Prediction), Meta (Nasdaq: META) and Microsoft (Nasdaq: MSFT). For the moment, trader optimism is overriding fears as both the economy and Big Tech appear to have the wind at their sails.
As tariff threats continue to swirl, the price of gold is now hovering above $5,000/ounce, buoying its performance ahead of the S&P 500 over the past half-decade.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 48,984.80 Down 427.60 (-0.87%)
Nasdaq Composite: 23,705.35 Up 112.24 (+0.48%)
S&P 500: 6,961.45 Up 11.70 (+0.17%)
According to reports, Meta Platforms and Corning (NYSE: GLW) have reportedly agreed to a partnership in which Mark Zuckerberg’s company will dole out billions of dollars over the coming years for fiber-optic cables to support its AI data centers. GLW stock is soaring by over 7% in response.
Amazon (Nasdaq: AMZN) Web Services has inked a lucrative contract with the U.S. Air Force to support the military’s cloud program. Separately, Salesforce (NYSE: CRM) secured a coveted multi-billion-dollar, 10-year deal with the U.S. army, paving the way for the military to access tech platforms like Slack.
Boeing (NYSE: BA) reported its Q4 sales soared by a whopping 57% year-over-year. Nevertheless, the stock is sinking by nearly 2%, weighing on the Dow Jones Industrial Average’s performance.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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