U.S. Stocks Opened Higher; Snowflake Shares tumble

Tiger Newspress2022-03-03

U.S. stocks rose Thursday as rapid moves in the energy and bond markets slowed.

The Dow Jones Industrial Average added 175 points, or 0.5%. The S&P 500 moved up about 0.4%, while the Nasdaq Composite climbed 0.3%.

The move higher in stocks was broad in early trading, with Cisco Systems, Amgen and Walmart all climbing more than 1% to boost the Dow.

On the earnings front Thursday, shares of Best Buy rose 5% after the retailer met earnings expectations and hiked its dividend, and Kroger climbed 8% after beating estimates on the top and bottom lines.

Software stock Snowflake dropped 15% after the company reported slowing revenue growth. BJ’s Wholesale, Burlington Stores and Big Lots were all down in premarket trading after their earnings reports.

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