1. S&P 500 rose 0.02% to 6,842.14 amid mixed trading. 2. Chewy Inc. reported earnings significantly above expectations. 3. Industrials sector increased by 0.8%, while tech stocks fell 0.6%. 4. U.S. compensation costs increased by 0.8% in Q3. 5. Mortgage applications rose by 4.8% week-over-week in December.
FAQ
Why Bullish?
Chewy's strong earnings can positively influence consumer sentiment, benefiting S&P 500 companies reliant on consumer spending, reflecting historical trends where strong earnings in consumer-centric companies lead to index gains.
How important is it?
The article discusses S&P 500's performance amid important earnings releases, highlighting trends that could substantively impact the index's movement.
Why Short Term?
Market reactions to earnings reports typically affect stock prices in the immediate term, as evidenced by past strong earnings announcements leading to quick gains in indices.