American manufacturers including Caterpillar and Whirlpool rallied on better-than-expected quarterly results Wednesday.
Whirlpool, which is the largest U.S.-based appliance producer, said its sales rose unexpectedly as it gained traction in North America with new products.
The company has doubled down on domestic manufacturing and said the full weight of tariffs is starting to weigh on foreign competitors. Whirlpool shares rose 5.2% Wednesday.
Meanwhile, Caterpillar shares jumped 12% after the maker of mining and construction machinery posted better-than-expected quarterly results and raised its annual sales-growth forecast.
Caterpillar cited a 31% increase in sales of power generators, mostly to AI data-center developers, that pushed up engine-segment sales and profit.
Nvidia became the first company to hit $5 trillion in market value on Wednesday, the latest milestone in an unprecedented surge that reflects the growing influence of artificial intelligence on markets and the economy.
As of Wednesday, when the stock rose 3%, Nvidia was larger than Qualcomm, AMD, Arm Holdings, ASML, Broadcom, Intel, Lam Research, Micron Technology and Taiwan Semiconductor Manufacturing combined, according to Dow Jones Market Data. Its value also exceeded entire sectors of the S&P 500, including utilities, industrials and consumer staples.
Nvidia's shares have been boosted by AI exuberance and a recent flurry of deals and corporate partnerships with companies from OpenAI and Oracle to Nokia and Eli Lilly.
Texas sued Tylenol maker Kenvue for allegedly hiding the autism risks of its popular pain reliever, despite doctors saying it is safe to take during pregnancy.
In a suit filed Tuesday, Texas Attorney General Ken Paxton alleged Kenvue engaged in deceptive marketing by advertising that Tylenol was safe to use while pregnant. The suit claims that research shows a link between prenatal and early-childhood use of the active ingredient acetaminophen and autism. Studies examining this link are inconclusive.
Kenvue called the lawsuit's claims "baseless." Doctors, medical societies and researchers say acetaminophen remains the best option for treating fever and pain during pregnancy.
In September, President Trump and Health Secretary Robert F. Kennedy Jr. warned that acetaminophen is a potential cause of autism, citing no new evidence.
Kenvue shares dropped 3.8% Tuesday.
Fast-casual diners are losing their appetite for Chipotle.
The burrito chain on Wednesday warned of lower demand from younger and low-income consumers -- a key demographic for fast-casual restaurants like Chipotle. Customers with household incomes below $100,000 make up 40% of its sales.
On a call with analysts, Chief Executive Scott Boatwright said inflation, unemployment and slower wage growth is weighing on spending by those groups.
The company said net income fell 1.4% in the latest quarter, and expects restaurant sales to decline in the low-single-digit range for 2025.
Chipotle shares sank 18% Thursday.
Five of the "Magnificent Seven" tech giants posted quarterly results during the week.
Meta Platforms on Wednesday said it would "aggressively" raise artificial intelligence spending, sending the social-media company's stock down 11% Thursday. Meanwhile, investors cheered Google parent Alphabet's AI spending plans, which accompanied a jump in advertising and cloud-computing revenue, and Alphabet shares added 2.4%.
Microsoft -- which hit a $4 trillion market valuation Tuesday -- posted better-than-expected sales, boosted its AI spending and took a $3.1 billion charge from its OpenAI investment. Microsoft shares fell 2.9% Thursday.
On Thursday, Amazon.com posted a 13% revenue jump and strong cloud sales. The e-commerce giant said its Amazon Web Services unit is growing at its fastest rate since 2022, driven by AI. Amazon shares jumped 9.6% Friday.
Soaring demand for GLP-1 weight-loss drugs gave Eli Lilly a boost in its latest quarter.
The pharmaceutical company posted better-than-expected results, including a 54% rise in overall sales, and raised its annual outlook. Revenue from Mounjaro more than doubled to $6.52 billion, while that from Zepbound almost tripled to $3.59 billion.
Zepbound and Mounjaro have been shown to result in significant weight loss in some patients, and the drugs' popularity has helped Eli Lilly take market share from Novo Nordisk, the maker of Ozempic and Wegovy.
The company is also preparing to launch a new weight-loss pill that offers patients an alternative to weekly injections.
Eli Lilly shares rose 3.8% Thursday.