S&P 500 Gains 0.5%; US Foods Shares Rise After Q4 Results

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 250 points on Thursday.

The Dow traded up 0.75% to 38,713.88 while the NASDAQ rose 0.22% to 15,894.39. The S&P 500 also rose, gaining, 0.52% to 5,026.65.

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Leading and Lagging Sectors

Energy shares rose by 2% on Thursday.

In trading on Thursday, information technology shares fell by 0.6%.

Top Headline

Shares of US Foods Holding Corp. (NYSE: USFD) gained around 3% on Thursday after the company reported better-than-expected fourth-quarter revenue results and issued FY24 net sales guidance above estimates.

US Foods reported fourth-quarter revenue of $8.936 billion, beating the street view of $8.791 billion. Net sales increased 4.9% year over year. Quarterly adjusted diluted earnings per share increased 16.4% to 64 cents, missing the street view of 67 cents.

For FY24, the company sees net sales of $37.5 billion to $38.5 billion (estimate: $37.32 billion), with adjusted EPS of $3.00-$3.20 (estimate: $3.23).

Equities Trading UP

JX Luxventure Limited (NASDAQ: JXJT) shares shot up 152% to $3.28 following H1 results.

Shares of SoundHound AI, Inc. (NASDAQ: SOUN) got a boost, surging 64% to $3.6899 after AI darling Nvidia reported a stake in the company.

Nano-X Imaging Ltd. (NASDAQ: NNOX) shares were also up, gaining 54% to $9.82. Nvidia …

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