Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average and the S&P 500 closed at record highs Thursday but lost steam late in the day on a report that the White House was resisting planned rollbacks of some tariffs in the U.S.-China trade war.
- Qualcomm (QCOM - Get Report) rose after the chipmaker posted stronger-than-expected fourth-quarter earnings and fiscal first-quarter profit guidance. Qualcomm is Real Money's Stock of the Day.
- Roku (ROKU - Get Report) declined sharply even after the TV streaming service posted a narrower-than-expected third-quarter loss.
Wall Street OverviewThe Dow Jones Industrial Average and the S&P 500 finished at record highs Thursday, but lost some steam on a report the White House was resisting planned rollbacks of some tariffs in the U.S.-China trade war.
All three indexes hit record intraday highs.Goldman Sachs ( GS - Get Report) , UnitedHealth ( UNH - Get Report) , and ExxonMobil ( XOM - Get Report) led the Dow's advance.
Clothing and accessories maker Ralph Lauren (RL - Get Report) was the S&P's biggest winner and Chinese technology giant Baidu (BIDU - Get Report) led the Nasdaq. Both companies beat Wall Street's earnings expectations.
A Chinese government spokesman said Beijing and Washington would remove the tariffs in phases "as progress is made on the agreement," and Bloomberg reported that a U.S. official confirmed that an agreement to roll back tariffs would be part of "phase-one" trade agreement.
However, Reuters reported Thursday afternoon that the plan to roll back some tariffs was meeting with resistance in the White House.
Xerox (XRX - Get Report) fell nearly 1% to $37.31 after news the printer and computer focused tech company would be prepared to pay more than $32.5 billion for HP (HPQ - Get Report) , which fell about 1% to $19.39.
Walt Disney (DIS - Get Report) rose in after-hours trading Thursday after the entertainment giant reported fourth-quarter earnings that beat analyst expectations. Shares rose nearly 4% to $138.01, after gaining 1.4% to $133.13 in the regular session.