February 7, 2022

February 7, 2022

Stocks finished the day mixed with the DOW in positive territory, while the S&P and NASDAQ both dropped lower. In economic news, there were 1.63 million continuing jobless claims last week, slightly down from the previous week.

Dow Jones +1 at 35,091

S&P 500 -17 at 4,484

NASDAQ -82 at 14,016

The 10 Year Treasury closed down 1 basis points yielding 1.92%

Oil prices closed down $0.92 ending at $91.39 a barrel

Gold prices closed up $14 ending at $1,841 an ounce

Corporate news:

• Shares of Spirit Airlines increased 17% after announcing it would merge with Frontier Airlines in a stock swap deal valued at $6.6 billion including assumed debt.

• Peloton shares moved 21% higher following reports that Amazon and Nike are discussing possible bids for the company. This came days after Blackwells Capital urged Peloton’s board to consider a sale of the company.

• Hasbro ended down 1% despite beating both top and bottom-line estimates for its latest quarter, along with raising its quarterly dividend by 3%.