Wall Street's Rally Roars Into A 3rd Day As Companies' Profits Keep Piling Up, For Now At Least
HuffPost
U.S. stocks rallied further as better-than-expected profits for U.S. companies piled up, though CEOs say they’re unsure whether it will last.
NEW YORK (AP) — Wall Street’s rally kept rolling Thursday as better-than-expected profits for U.S. companies piled up, though CEOs said they’re unsure whether it will last because of uncertainty created by President Donald Trump’s trade war.
The S&P 500 charged 2% higher and pulled within 11% of its record set earlier this year. The Dow Jones Industrial Average rose 486 points, or 1.2%, while the Nasdaq composite jumped 2.7%.
Tech stocks helped lead the way, including ServiceNow after the AI platform company delivered a stronger profit for the start of 2025 than analysts expected. The company, whose AI agents help clients manage their customers, saw its stock jump 15.5% after it also gave a forecasted range for upcoming subscription revenue that beat some analysts’ expectations.
Southwest Airlines likewise reported stronger results than expected for the first three months of the year. But its stock flipped between gains and losses through the morning after it also became the latest U.S. carrier to say the outlook for the economy looks so cloudy that it’s pulling some of its financial forecasts for the year.
CEO Bob Jordan said the company is “controlling what we can control,” and it’s cutting how much flying it will do in the second half of the year. Southwest’s stock eventually pulled higher in afternoon trading and finished up 3.7%.
