NEW YORK (AP) — U.S. stock indexes edged lower on Thursday after a mixed set of earnings reports from Morgan Stanley. United Health Group And other big companies.

The S&P 500 fell 0.2% after flipping between small gains and losses throughout the day. Most stocks within the index rose, but losses for some influential stocks, such as Tesla, increased their weighting.

The Dow Jones Industrial Average lost 68 points, or 0.2 percent, and the Nasdaq Composite fell 0.9 percent.

A relatively modest move for stocks came a day after them Shot more In the hope that one Encouraging report on inflation Can convince Federal Reserve to deliver more Interest rate cut this year. Treasury yields were also more subdued in the bond market after mixed economic reports on Thursday.

A report showed Sales growth at US retailers Last month was not as strong as economists had expected. Another said more American workers filed. Unemployment benefits Last week, and a third said Mid-Atlantic Manufacturing The area unexpectedly returned to growth.

All three reports suggest that the U.S. economy is not close to recession but may be showing some signs of a slowdown that could keep pressure on inflation. There has been a stir in the markets. below And above Economically in recent weeks The reports force traders to refine their expectations. About what the Federal Reserve might do with interest rates in 2025

While the reports have calmed concerns about inflation, expectations for possible rate cuts have risen. This has generally sent Treasury yields lower and stock prices higher. When inflation appears to be a bigger problem, whether through a stagnant economy or the potential policies of President-elect Donald Trump, Treasury yields rise, and stock prices tend to sink.

On Thursday, production fell marginally. The yield on the 10-year Treasury fell to 4.61% from 4.66% late Wednesday and 4.79% on Tuesday.

The yield on the two-year Treasury, which tracks more closely expectations of upcoming Fed actions, fell to 4.23% from 4.27% late Wednesday and from 4.37% two days earlier.

Treasury yields are still higher than last fall. And higher yields can put downward pressure on stock prices, unless companies provide higher returns to compensate.

On Wall Street, Morgan Stanley rose 4% after reporting stronger-than-expected quarterly earnings in the latest quarter. Investment banking improved in the quarter, CEO Ted Pick said. Stronger financial markets also helped boost its total client assets in its wealth and investment management business to $7.9 trillion.

That followed stronger-than-expected profit reports from banks a day earlier, including Citigroup, Goldman Sachs and Wells Fargo.

Bank of America also reported a profit Thursday that beat expectations, but its stock was more subdued. 1 percent fell.

US Bancorp, meanwhile, suffered one of the biggest losses in the S&P 500 after reporting the latest quarterly results that fell short of analysts’ expectations. It decreased by 5.6 percent.

The only top loser in the index was UnitedHealth Group, which fell 6 percent. The insurer reported stronger-than-expected profits, but its revenue for the latest quarter was shy of forecasts. The rise in medical costs surprised analysts.

This was the company’s first financial report since then. Shooting of one of its executives outside a New York City hotel early last month.

Another weight in the market was Tesla, which fell 3.4 percent on news that it was offering discounts on its Cybertruck, the latest sign that Elon Musk’s company is struggling to attract buyers. is Sales of its electric vehicle models fell for the first time in a dozen years.

All told, the S&P 500 fell 12.57 points to 5,937.34. The Dow sank 68.42 to 43,153.13, and the Nasdaq Composite sank 172.94 to 19,338.29.

In stock markets abroad, indexes rose in most parts of Europe and Asia. France’s CAC 40 gained 2.1 percent, South Korea’s Kospi gained 1.2 percent and Hong Kong’s Hang Seng rose 1.2 percent.

Taiwanese computer chip maker Taiwan Semiconductor reported on Thursday that its profit rose 57 percent in the last quarter. The world’s largest semiconductor manufacturer – which finds itself in the middle of a trade and technology tug-of-war between the US and China – said its results The rise of artificial intelligence

Its stock, which trades in the United States, rose 3.9%.

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AP Business writers Yuri Kageyama, Matt Ott and Bernard Condon contributed.





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