Stocks increased for a third straight day, with every major index finishing in positive territory. In economic news, private payrolls rose by 291,000 in January, the best month in almost 5 years.
Here’s a look at how the major indices finished the day:
Dow Jones +483 at 29,291
S&P 500 +37 at 3,345
NASDAQ +41 at 9,509
The 10 Year Treasury closed up 5 basis points yielding 1.65%
Oil prices closed up $1.39 ending at $51 a barrel
Gold prices closed up $6 ending at $1,561 an ounce
In the days’ stock news:
- Disney shares dropped over 2% after the media giant failed to update the guidance for its online streaming service, Disney+. This overshadowed the company beating earnings and revenue estimates.
- Snap’s stock declined 15% after disappointing revenues last quarter. The company’s average revenue per user, which is a key metric for social media companies, also missed analysts’ expectations.
- Ford Motor reported a loss of $1.7 billion for the 4th quarter, while also issuing a disappointing guidance for 2020. The loss was driven in part by higher pension contributions and increasing labor and warranty costs. Ford shares declined 9% today.
- Gilead Sciences shares dropped over 2% after missing earnings and full-year earnings guidance estimates.