Wall Street's performance this week is influenced by stronger-than-expected profits from major companies, highlighted by a slight increase in the S&P 500 and mixed results from the Dow and Nasdaq. Norfolk Southern is in discussions for a merger with Union Pacific, while Netflix's stock dropped despite strong quarterly profits, attributed to prior gains. Other companies like Charles Schwab and Regions Financial saw their stocks rise due to positive earnings. Lastly, Treasury yields fell on consumer inflation expectations showing improvement, indicating a shift in economic sentiment.
Wall Street is experiencing its third winning week in the last four, with strong profit reports pushing the S&P 500 slightly higher after reaching an all-time high.
Norfolk Southern shares rose 3% amid merger discussions with Union Pacific, potentially forming North America's largest railroad, though regulatory scrutiny is expected.
Despite reporting stronger-than-expected profits, Netflix's stock fell 5.7% following a significant rise earlier this year, acting as a substantial negative influence on the S&P 500.
Chevron's stock increased by 0.5% after finalizing its acquisition of Hess, which was approved following a positive arbitration ruling regarding Hess' assets.
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