February 10, 2022

February 10, 2022

Stocks dropped today, with the DOW, S&P and NASDAQ all finishing down over 1%. In economic news, there were 223,000 jobless claims last week, 7,000 less than expected.

 

Dow Jones -527 at 35,242

S&P 500 -83 at 4,504

NASDAQ -305 at 14,186

 

The 10 Year Treasury closed up 10 basis points yielding 2.03%

Oil prices closed up $0.18 ending at $89.84 a barrel

Gold prices closed down $3 ending at $1,853 an ounce

 

Corporate news:

  • Shares of Disney increased 3% after the company beat estimates for both bottom and top lines for its latest quarter. This was helped by growth in its Disney+ subscriber base and record profit from its theme parks.

 

  • Coca-Cola shares moved 1% higher after the company beat earnings and revenue estimates. Coca-Cola also projects commodity price inflation will be in the mid-single-digit percentage range for 2022.

 

  • Uber reported better-than-expected quarterly results as its business rebounded. The company continued to see strong demand for its Uber Eats food delivery business.

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