The U.S. stock market ended the trading on the positive side. The major U.S. stock indexes are highly correlated. The Dow Jones and S&P 500 closed at their highest levels in nearly seven weeks. Traders evaluated a new batch of corporate reports and fresh U.S. stock indices data.

U.S. stock indices are changing daily. The U.S. economy shrank 0.9 percent year on year in the second quarter, preliminary data from the U.S. Commerce Department showed. Analysts polled by Trading Economics had expected growth of 0.5%; the Bloomberg consensus forecast was for a rise of 0.4%.

Investors think the data on U.S. stock market indices may force the Federal Reserve to stop the cycle of aggressive tightening of rates soon.

At the end of this week’s meeting, the Federal Reserve expected to raise interest rates by 75 basis points, to 2.25-2.5%, and confirmed that it expects further tightening of monetary policy.

Meanwhile, the number of Americans filing for unemployment benefits for the first time fell by 5,000 last week to 256,000, according to a report from the U.S. Labor Department. According to revised data, a week earlier, the index was 261 thousand, not 251 thousand, as it was informed earlier. Experts interviewed by Bloomberg agency, on average, expected to reduce the number of applications to 250 thousand.

Current U.S. stock exchange index

The value of Dow Jones Industrial Average increased by 1.03% to 32529.63 points by closing of trading.

Standard & Poor’s 500 rose by 1.21 per cent to 4,072.43 points.

The Nasdaq Composite rose 1.08% to 12162.59 points.

Hershey Co. rose 2.8%. The U.S. chocolate maker reported net income rose 5 percent in its fiscal second quarter and improved its full-year guidance.

The market value of Etsy Inc. jumped 9.9%. The online trading platform operator reported better-than-forecast earnings in the second quarter, with revenues matching analysts’ forecasts.

Ford Motor Co. shares were up 6.1%. The U.S. automaker posted a 19% increase in net income in the second quarter of 2022, and adjusted earnings and revenue were better than market expectations. The company reaffirmed its outlook for the year.

Shares of Harley-Davidson Inc. are up 7.8%. The largest U.S. motorcycle maker boosted net income and lowered revenue in the second quarter of 2022, with results significantly better than analysts’ expectations.

Shares of Qualcomm Inc. fell 4.5%. One of the world’s largest semiconductor makers increased net profit 1.8 times in the third quarter of fiscal 2022, but gave a weak outlook amid falling consumer demand due to high inflation.

Comcast Corp. ‘s stock price was down 9.1%, though the largest U.S. Internet and cable TV provider posted adjusted earnings and revenue better than market forecasts for the second quarter of fiscal 2022.

Meta Platforms shares were down 5.2%. The company recorded a decline in revenue in the second quarter amid a decline in advertising revenue.

Altria Group’s stock declined by 0.2%. One of the largest tobacco companies in the world cut net income 2.4 times in the second quarter of 2022, while revenues fell by 5.7%.

Pfizer Inc. shares lost 1.6%, although the company reported better than market forecasts adjusted profit and revenue in the second quarter of 2022 due to increased sales of drugs to fight COVID-19.

JetBlue Airways Corp. ‘s stock price was down 0.4%. The U.S. airline entered into an agreement to buy Spirit Airlines (SPB: SAVE) Inc. for $3.8 billion. Spirit Airlines shares rose 5.6%.