US stocks rose slightly on Thursday, with the three major indexes up about 0.1%, following strong gains the previous day. Traders digested the latest economic data while remaining optimistic that the Federal Reserve has room to implement further interest rate cuts this year.
Retail sales rose less than anticipated last month and initial claims came in above estimates. Tech stocks such as Nvidia (1.5%) and Super Micro Computer (2.7%) rose, supported by a positive outlook from Taiwan Semiconductor Manufacturing.
Meanwhile, earnings season continued with Bank of America shares rising 0.1% after beating earnings and revenue expectations. Morgan Stanley rose 2.1% after its Q4 earnings surged. In contrast, UnitedHealth fell 0.9% as its revenue missed estimates.
Source: Trading Economics
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