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The Key Takeaways
- Major U.S. indexes were little changed at midday Thursday after Wednesday's big gains powered by strong bank earnings and a softer-than-expected inflation report.
- Morgan Stanley’s shares rose after it exceeded earnings and revenue expectations.
- UnitedHealth Group fell in value as the insurer posted a soft premium revenue and increased medical expenses.
Major U.S. indexes were little changed at midday Thursday after Wednesday's big gains powered by strong bank earnings and a softer-than-expected inflation report.
Morgan Stanley shares rose after it reported better than expected results. Revenue from the firm’s equities unit soared, and more investors poured money into Morgan Stanley-backed initial public offerings.
KLA (KLAC), and shares of other semiconductor companies, were up after TSMC posted solid results. The chipmaker claimed it had benefited from the soaring demand of artificial intelligence chips.
Symbotic’s (SYM), a robotics and AI company, expanded their partnership with Walmart (WMT) to increase its share price.
UnitedHealth Group stock (UNH) fell on Thursday, as the health insurance company reported lower revenue due to premiums but higher payouts.
Target shares fell when the retailer failed to raise its profits outlook despite better-than-expected holiday sales.
Southwest Airlines’ (LUV) shares fell after Citi downgraded the company, citing concerns regarding its valuation and earnings.
Gold prices rose and oil futures fell. The 10-year Treasury yield continued to fall. In midday U.S. trade, the U.S. Dollar was higher against the euro and pound but fell to the yen. The majority of major crypto currencies traded higher.
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