Wall street mostly gained early as investors eyed an onslaught of earnings reports.

At 10:05 A.M. ET, the broad S&P 500 rose 0.13%, or 7.99 points, to 6,069.47; the blue chip Dow was down 0.034% , or 15.29 points, to 44,857.99; and the tech-laden Nasdaq gained 0.14%, or 27.06 points, to 19,719.39.

The 10-year benchmark Treasury yield edged up to 4.428% after Treasury Secretary Scott Bessent said the Trump administration is more focused on keeping Treasury yields low than on what the Fed does and that President Donald Trump would not be pushing the Federal Reserve to lower rates as he did during his first term.

Lately, the so-called Magnificent 7 stocks of Amazon, Tesla, Alphabet, Meta, Apple, Nvidia and Microsoft have seen some softness on doubts over whether mega spending on artificial intelligence will pay off. For the past few years, the world's seven biggest and most influential tech companies have been the biggest boost to the stock market. However, their influence has been waning as seen on Wednesday when Google-parent Alphabet's shares slumped but the overall market gained. This is seen as a positive for the stock market.

"Despite several high profile earnings disappointments, the S&P 500 has remained resilient thus far in 2025 as flows aggressively rotate within the market," said Mike O'Rourke, chief markets strategist at JonesTrading. "The Magnificent Seven is up less than 1% year to date, lagging the S&P 500's 3% gain. The strength within the benchmark has been the other 493 names."

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Investors paid little attention to higher-than-expected weekly jobless claims. Initial weekly claims were 219,000, above Reuters' average prediction by economists of 213,000. The key monthly jobs report is due Friday morning.

Corporate news

Some of the biggest stock movers on Thursday include:

• Oualcomm topped earnings estimates on strong smartphone demand, but its licensing revenues missed forecasts. Shares shed 4.45%.
• Tapestry shares soared 15.17%, reaching a new 52-week high, after the company shrugged off an additional 10% tariff on Chinese goods and raised its sales growth forecast for the year.
• Bristol-Myers Squibb shares declined 1.32% on a surprisingly weak full-year outlook due to generics competition with some of the drugmaker's top selling medications.
• Eli Lilly topped quarterly estimates and was bullish on its outlook. The drugmaker's shares rose 2%.
• Skyworks Solutions shares tumbled more than 25% after the company warned its share of the business supplying Apple with radio-frequency components will fall by one-fifth to one-quarter. Apple is the company's largest customer.
• Hershey topped earnings expectations but warned soaring cocoa prices will be a headwind this year. Shares of the chocolate maker rose 3.78%.
• Ford said weakness in its EV business will weigh on its financial performance this year. The automaker's shares are off 6.64%.
• Arm Holdings beat earnings forecasts, thanks to AI, but its outlook was weaker than expected. Shares of the semiconductor company fell 4.22%.
• Honeywell's full-year earnings guidance fell short of analysts' forecasts and the company is going to split into two companies: automation and aerospace. Shares fell 4.25%.
• Peleton stock jumped 12.2% after the exercise equipment company reported better-than-expected quarterly sales.
• Roblox shares dropped 17.83% after the gaming platform said it expects full-year bookings below analysts' forecasts.

Bitcoin

Bitcoin rose, but remained below the key psychological $100,000 level. The cryptocurrency found support from Microstrategy's rebrand to Strategy to emphasize its commitment to bitcoin. It changed its logo to a bitcoin symbol and called itself "the world’s first and largest Bitcoin Treasury Company."

Strategy also said it added to its bitcoin stash in the final few months of last year, even as bitcoin surged to new highs around the time Trump was elected president.

Bitcoin was last up 1.34% at $97,861.87.

Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.