Stocks increased substantially today, with the NASDAQ leading the way up over 2%. In economic news, U.S. manufacturing activity rebounded in January.
Here’s a look at how the major indices finished the day:
Dow Jones +408 at 28,808
S&P 500 +49 at 3,298
NASDAQ +195 at 9,468
The 10 Year Treasury closed up 8 basis points yielding 1.60%
Oil prices closed down $0.40 ending at $49.72 a barrel
Gold prices closed down $24 ending at $1,558 an ounce
In the days’ stock news:
- Alphabet shares dropped over 2% after missing revenue estimates. However, the parent company of Google did beat earnings expectations by a large margin.
- Sony raised its full-year profit outlook, following a stronger-than-expected quarter. This was driven by growth in smartphone image sensor sales. Sony shares moved about 4% higher today.
- BP’s stock increased after reporting better-than-expected profit for the fourth quarter. The energy producer also raised its dividend by 2.4%.
- Tesla and Panasonic’s automotive battery business was profitable for the first time, and production has been increased to meet the growing demand. Tesla’s stock has increased over 25% since the start of this week.