Earnings Exacerbate Stock Market Volatility Whipped Up by Fed
- Average S&P stock moved 4.2% in either direction post-earnings
- Really need more positive catalysts to sustain rally: Amoroso
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Wild swings have been a hallmark of the U.S. stock market all year. It’s only gotten worse during the latest earnings period.
Stocks rallied as much as 3% Thursday on the back of strong results from technology heavyweights. Meta Platforms Inc. surged 18%, while PayPal Holdings Inc. and Qualcomm Inc. each jumped more than 10% just two days after gloomy outlooks led to the biggest market selloff in seven weeks. In late trading Amazon.com Inc. plunged 10% and Intel Corp. lost 5% after disappointing forecasts.