Stocks rally but January still worst since March of 2020

78% of S&P 500 companies have exceeded earnings expectations

U.S. stocks finished with broad gains as investors wound down a volatile month and ahead of another busy week for earnings and jobs data. 

The Nasdaq Composite took the lead rising 3.4% as Tesla and Netflix led the gains. 

Ticker Security Last Change Change %
I:COMP NASDAQ COMPOSITE INDEX 18986.514224 -88.75 -0.47%
TSLA TESLA INC. 290.90 +0.10 +0.03%
NFLX NETFLIX INC. 986.76 -3.30 -0.33%

The Dow Jones Industrial Average rose over 406 points or 1.1%, reversing morning losses and the S&P 500 gained 1.9%. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 43726.87 +293.75 +0.68%
SP500 S&P 500 5960.03 +3.97 +0.07%

Despite the rally, the S&P 500 clocked its worst month since March of 2020 down 5.3%, the Nasdaq lost 9% and the Dow 3%. 

Ticker Security Last Change Change %
BA THE BOEING CO. 175.50 +2.44 +1.41%

Boeing rose after announcing a new $6.8 billion order from Qatar Airways for GE9X engines as part of its global launch order of up to 50 Boeing 777-8 Freighters.  The commitment, which includes 34 firm 777-8 orders and an additional 16 purchase right options, also includes GE90 engines for an additional order of two Boeing 777 Freighters.

Ticker Security Last Change Change %
MRNA MODERNA INC. 32.63 -0.95 -2.83%

Moderna also rose after the Food and Drug Administration fully cleared is COVID-19 use for individuals 18 and over. Prior to, the vaccine was being administered via emergency use classification.  

Deal-making was active Monday with Sony Interactive announcing plans to buy Bungie, the maker of the Halo and Destiny titles, for $3.6 billion. This follows Microsoft's $69 billion purchase of Activision. 

Ticker Security Last Change Change %
SONY SONY GROUP CORP. 25.21 -0.26 -1.02%
MSFT MICROSOFT CORP. 398.26 -1.47 -0.37%
ATVI NO DATA AVAILABLE - - -

Also, Citrix Systems confirming it will go private in a deal valued at $16.5 billion as Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P and Vista Equity Partners, acquire the company.

Ticker Security Last Change Change %
CTXS NO DATA AVAILABLE - - -

Blackberry is selling the majority of its patents tied to a legacy smartphone arm for $600 million to Catapult IP Innovations.

Ticker Security Last Change Change %
BB BLACKBERRY LTD. 5.00 -0.04 -0.89%

And J.B. Hunt Transport Services Inc is buying Bassett Furniture Industries, Inc.'s Zenith Freight Lines, in a deal valued at $87 million. 

Ticker Security Last Change Change %
JBHT J.B. HUNT TRANSPORT SERVICES INC. 160.59 +0.28 +0.17%
BSET BASSETT FURN 15.30 -0.25 -1.59%

In earnings news, Cirrus Logic and NXP Semiconductor are set to report on Monday. 

Ticker Security Last Change Change %
CRUS CIRRUS LOGIC INC. 105.42 -4.41 -4.02%
NXP NUVEEN SEL T-F P 3 FD 14.65 +0.03 +0.21%

Later in the week tech will be in focus with Amazon, Google, and Meta Platforms, formerly Facebook, set to report.  

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 213.68 -0.67 -0.31%
GOOGL ALPHABET INC. 171.24 -1.49 -0.86%
FB NO DATA AVAILABLE - - -

Sony Pictures' "Spider-Man: No Way Home" grossed $11 million over the weekend, according to studio estimates Sunday, bringing its domestic total to $735.9 million. The Marvel hit has accounted for a huge percentage of the month’s ticket sales.

Ticker Security Last Change Change %
SONY SONY GROUP CORP. 25.21 -0.26 -1.02%

In commodities, oil hovered around the $87 per barrel level ahead of OPEC's meeting this week. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND - USD ACC 75.42 +1.56 +2.12%

DRUGMAKERS RAISED PRICES BY 6.6% ON AVERAGE EARLY THIS YEAR

Asian stocks followed Wall Street higher Monday at the start of a week when China, South Korea and Southeast Asian markets will close for the Lunar New Year holiday.

CATHIE WOOD’S ARK FACES LOYALTY TEST AFTER TECH-STOCK ROUT

The major cryptocurrencies – Bitcoin, Ethereum and Dogecoin were all down. 

CLICK HERE TO READ MORE ON FOX BUSINESS

The Associated Press contributed to this report.