January 28, 2022

January 28, 2022

Stocks reversed earlier losses close higher today as investors took in earnings results from some major tech companies and another hot print on inflation at the end of another unstable week.

 

Dow Jones finished +565 at 34,725

S&P 500 finished +105 at 4,431

NASDAQ finished +418 at 13,770

 

The 10 Year Treasury closed down 2 basis points yielding 1.79%

Oil prices closed up $0.62 ending at $87.23 a barrel.

Gold prices closed down $5.40 ending at $1,789 an ounce.

 

In the days’ stock news:

 

  • Caterpillar closed down 5% despite a fourth-quarter report that beat estimates on the top and bottom lines. However, the company’s operating profit margin shrank, reflecting higher costs.
  • Apple closed up 7% following a strong quarterly report that showed its largest single quarter in terms of revenue ever. Apple beat analyst estimates for sales in every product category except iPads. Sales grew more than 11% despite supply challenges and the lingering effects of the pandemic.

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