Stocks moved higher today, with every major index finishing in positive territory. In economic news, household debt rose by $601 billion last year, a 12-year high.
Here’s a look at how the major indices finished the day:
Dow Jones +275 at 29,551
S&P 500 +22 at 3,379
NASDAQ +87 at 9,726
The 10 Year Treasury closed up 4 basis points yielding 1.63%
Oil prices closed up $1.62 ending at $51.56 a barrel
Gold prices closed flat ending at $1,570 an ounce
In the days’ stock news:
- CyberArk Software beat earnings and revenue estimates for the fourth quarter. However, the company said its full-year adjusted earnings per share outlook is $2.26-$2.38, lower than expectations. CyberArk shares dropped 14% today.
- Teva Pharmaceutical, the world’s largest generic drug maker, shares increased 9% today after beating earnings and revenue estimates.
- Bed Bath & Beyond shares dropped 21% after announcing same-store sales were down more than expected in December and January. This was caused by increased promotional pricing, lower store traffic, and issues with inventory management.
- Lyft lost less than expected in the fourth quarter. The ride-hailing service also beat revenue estimates and said it is on track to achieve a key measure of profitability by the end of 2021. Lyft’s stock dropped 10% today.