Dow leads S&P 500, Nasdaq higher as earnings roll in, Wall Street braces for data deluge

Here’s a look at some stocks trending on Yahoo Finance after following a slew of earnings reports:

Read more live coverage of corporate earnings here. 

Selling resumed in bitcoin (BTC-USD) on Tuesday after a calm start to the week, pushing the cryptocurrency below $69,000. Ether (ETH-USD) also slid to $2,013 per token as bearish sentiment returned and the crypto market looked for a sense of direction.

The losses came after a volatile week that saw bitcoin face its worst daily drop since November 2022, followed by a sharp rebound.

Bernstein analyst Gautam Chhugani wrote in a note on Monday morning that the bear case for bitcoin remains weak, however.

“The current bitcoin price action is a mere crisis of confidence,” Chhugani wrote. “Nothing broke, no skeletons will show up.”

Read more here.

Gold (GC=F) is trading steady above $5,000 an ounce, holding onto a two-day gain after a historic sell-off,

While many traders are debating whether prices have found a bottom, banks are staying upbeat on gold’s prospects. BNP Paribas strategist David Wilson said the precious metal may climb to $6,000 by the end of the year, as geopolitical risks persist and investors search for risk protection.

Bloomberg reports:

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The Financial Times reports:

Donald Trump’s administration intends to spare companies including Amazon (AMZN), Google (GOOG) and Microsoft (MSFT) from forthcoming tariffs on chips as they race to build the data centers powering the AI boom.

The commerce department is planning to provide US hyperscalers with tariff carve-outs, which would be tied to investment commitments made by Taiwan-based chip group Taiwan Semiconductor Manufacturing Company (TSM, 2330.TW), people familiar with the matter said.

The exemption scheme underscores President Trump’s determination to impose tariffs on chips and incentivise US domestic chipmaking, while offering some relief for the companies powering the US’s rapid AI expansion, which rely heavily on imported semiconductors.

Trump has used the threat of tariffs to push for more US manufacturing. But the administration has stopped short of applying broad tariffs on semiconductors from Taiwan, which would rock Big Tech’s AI supply chain.

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On Semiconductor (ON) stock skidded in premarket trading on Tuesday, falling by 4%, after the company recorded lower profits in the fourth quarter than a year ago but said it’s seeing “signs of stabilization” in its key markets.

The chipmaker reported earnings per share of $0.45 on revenue of $1.53 billion, missing earnings estimates of $0.59 per share and falling below earnings per share of $0.88 in the same period a year ago, according to S&P Global Market Intelligence. The company’s fourth quarter revenue was in line with estimates.

The company saw annual sales declines across all of its business groups: Power Solutions, Analog & Mixed Signal, and Intelligent Sensing. Intelligent Sensing was the only segment that saw sales grow quarter over quarter, while Power Solutions and Analog & Mixed Signal sales fell 2% and 5%, respectively.

For the first quarter, On Semiconductor expects revenue in the range of $1.43 billion to $1.53 billion, which has a midpoint below the consensus estimate of $1.5 billion. Adjusted diluted earnings per share are expected to be between $0.56 and $0.66; Wall Street expects $0.61.

Bloomberg reports:

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AP Finance reports:

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