Stocks Pressured by Mixed Big Tech Earnings

Economic Indicators - The US November trade deficit widened to -$56.8 billion, exceeding expectations of -$44.0 billion, marking the largest deficit in four months [2] - Weekly initial unemployment claims decreased by 1,000 to 209,000, indicating a slightly weaker labor market than the expected 205,000, while continuing claims fell by 38,000 to a six-month low of 1.827 million, suggesting a stronger labor market than the anticipated 1.850 million [2] Precious Metals and Commodities - Precious metals are experiencing significant gains, with gold and silver rising over 3% to new record highs, and copper increasing more than 8% to an all-time high, driven by concerns over dollar weakness and uncertain US policies [3] - WTI crude oil prices increased by over 4% to a 4.25-month high, positively impacting energy producers, following President Trump's comments urging Iran to negotiate a nuclear deal [4][12] Stock Market Performance - The S&P 500 Index is down 0.41%, the Dow Jones Industrials Index is down 0.02%, and the Nasdaq 100 Index is down 0.80% [5] - Earnings season is underway, with 102 S&P 500 companies reporting this week; 81% of the 106 companies that have reported so far have beaten expectations, with S&P earnings growth projected to rise by 8.6% in Q4 [7] Company-Specific Movements - Meta Platforms' stock rose over 7% after reporting Q4 revenue of $59.89 billion, surpassing the consensus of $58.42 billion, and providing a strong Q1 revenue forecast [16] - International Business Machines (IBM) shares increased by more than 7% after reporting Q4 revenue of $19.69 billion, exceeding expectations of $19.21 billion [16] - Microsoft shares fell over 11% due to disappointing growth in its cloud business, reporting a 38% year-over-year increase, which met consensus but did not exceed it [13] - Royal Caribbean Cruises Ltd saw its stock rise over 15% after forecasting full-year adjusted EPS of $17.70 to $18.10, above the consensus of $17.67 [17]