February 2, 2022

February 2, 2022

Stocks finished the day with the DOW, S&P, and NASDAQ all in positive territory. In economic news, there were 301,000 jobs cut during January, a surprise drop compared to the expected 200,000 gain.

 

Dow Jones +224 at 35,629

S&P 500 +43 at 4,589

NASDAQ +72 at 14,418

 

The 10 Year Treasury closed down 3 basis points yielding 1.77%

Oil prices closed up $0.13 ending at $88.33 a barrel

Gold prices closed up $9 ending at $1,828 an ounce

 

Corporate news:

  • Shares of Waste Management dropped 1%, despite announcing a planned dividend increase and projecting full-year revenue above current forecasts.
  • Alphabet shares increased 7% following a blowout earnings report, along with revenue topping forecasts as digital ad sales surged. Alphabet also announced a 20-for-1 stock split.
  • Starbucks shares declined 1% after missing earnings estimates. Starbucks said its bottom line was impacted by higher costs for commodities and labor.

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