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 | 19060.475899 | -115.10 | -0.60% |
TSLA | TESLA INC. | 332.89 | -5.34 | -1.58% |
NFLX | NETFLIX INC. | 877.34 | +4.74 | +0.54% |
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 | 44722.06 | -138.25 | -0.31% |
SP500 | S&P 500 | 5998.74 | -22.89 | -0.38% |
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. | 156.54 | +1.10 | +0.71% |
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. | 43.06 | -0.33 | -0.76% |
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. | 20.05 | +0.29 | +1.47% |
MSFT | MICROSOFT CORP. | 423.46 | +0.47 | +0.11% |
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. | 2.56 | -0.01 | -0.39% |
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. | 189.24 | +0.13 | +0.07% |
BSET | BASSETT FURN | 15.37 | +0.14 | +0.92% |
In earnings news, Cirrus Logic and NXP Semiconductor are set to report on Monday.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
CRUS | CIRRUS LOGIC INC. | 104.45 | -1.07 | -1.01% |
NXP | NUVEEN SEL T-F P 3 FD | 15.00 | +0.01 | +0.10% |
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. | 210.71 | +2.82 | +1.36% |
GOOGL | ALPHABET INC. | 171.49 | +2.54 | +1.50% |
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. | 20.01 | -0.04 | -0.20% |
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 | 71.75 | +0.12 | +0.17% |
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.
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The major cryptocurrencies – Bitcoin, Ethereum and Dogecoin were all down.
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The Associated Press contributed to this report.