Stocks fell Thursday after raising earlier in the session as market participants reacted to the latest batch of corporate earnings. The Dow Jones Industrial Average fell nearly 250 points, while the S&P 500 Index and Nasdaq Composite lost about 0.9% and 1%, respectively.
Here's how the market settled on Thursday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Taking center stage on Thursday, Disney
In a statement, CEO Bob Iger said Disney is seeking to make a "significant transformation" across its business by reducing expenses and focusing on more creative content. "We believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better postiting us to weather future disruption and global economic challenges, and deliver value for our shareholders," Iger said.
Elsewhere for earnings, PepsiCo
Mattel
"Our fourth quarter results were below our expectations, as the macro-economic environment was more challenging than anticipated. While less than expected, POS grew in the quarter and the full year and we achieved growth in net sales in constant currency for the fourth consecutive year. The increase in consumer demand for our product speaks to the strength of our portfolio as a whole, even in a challenging environment. We believe we are well-positioned to continue executing our multi-year strategy to grow our IP-driven toy business and expand our entertainment offering," said CEO Ynon Kreiz in a statement.
Affirm
In other stock news, JPMorgan Chase
Tesla
In economic news, initial unemployment filings rose to 196,000 from the week ended Feb. 4, according to the Labor Department's latest report on Thursday, above the 190,000 expected and and an increase of 13,000 from the previous week. Still, last week marks the fourth week in a row that jobless claims were under 200,000 after the most recent peak of 241,000 in November.
Looking ahead, investors will turn their attention to after-market earnings reports from companies like PayPal