February 16, 2022

February 16, 2022

Stocks finished the day mixed with the S&P in positive territory, while the DOW and NASDAQ both dropped lower. In economic news, retail sales increased 3.8% during January, almost doubling expectations.

 

Dow Jones -55 at 34,934

S&P 500 +4 at 4,475

NASDAQ -16 at 14,124

 

The 10 Year Treasury closed up flat yielding 2.05%

Oil prices closed down $1.75 ending at $90.38 a barrel

Gold prices closed up $17 ending at $1,897 an ounce

 

Corporate news:

• Shares of Shopify declined 16% despite reporting better-than-expected quarterly profit and revenue. The e-commerce platform operator said revenue growth for 2022 would be slower than the 57% it achieved in 2021.

 

• La-Z-Boy shares declined 17% after missed earning estimates for its latest quarter. The company noted multiple issues related to Covid-19, which made it difficult to fully satisfy demand.

 

• Wynn reported a wider-than-expected quarterly loss. The casino operator did manage to beat revenue estimates. Wynn shares ended the day down 2%.