February 4, 2022

February 4, 2022

Stocks closed mostly up as investors viewed a much stronger-than-expected jobs report as strengthening the case for the Federal Reserve to continue down its more hawkish monetary policy path.

 

Dow Jones finished -21 at 35,089

S&P 500 finished +23 at 4,500

NASDAQ finished +219 at 14,098

 

The 10 Year Treasury closed up 9 basis point yielding 1.92%

Oil prices closed up $1.96 ending at $92.23 a barrel.

Gold prices closed up $3.70 ending at $1,807 an ounce.

 

In the days’ stock news:

 

  • Amazon closed up more than 13% following a stellar quarterly report. The company said its investment in electric vehicle company Rivian gained almost $12 billion in the fourth quarter. Amazon Web Services delivered almost 40% year-over-year growth in the fourth quarter, beating Wall Street estimates.
  • Snap closed up 58% after the company reported its first-ever quarterly net profit. Snap’s quarterly results also showed it’s seeing quicker-than-expected progress on its transition with advertisers around Apple’s privacy changes on iOS. Its shares had just suffered a 23.6% sell-off on Thursday, prior to the earnings release.

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