By Staff Reporters
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The S&P 500 rose 1.9%. Despite the gains, the benchmark index still ended with its first weekly loss in the last three. The Dow Jones Industrial Average rose 1% and the NASDAQ composite closed 2.7% higher still.
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And so, U.S. equities ended higher for the day and mixed for the week, with the Dow and S&P 500 posting their first weekly declines of the new year.
Equity news remained focused on earnings, as Netflix fell well short of estimates but easily beat the Street’s forecasts for subscribers, and PPG Industries bested expectations. Meanwhile, Alphabet announced it will slash its workforce by 12,000 jobs. Economic news was on the light side today, with the lone report showing an eleventh-straight month-over-month decline in existing home sales.
Treasury yields ended higher, and the U.S. dollar dipped slightly, while crude oil and gold prices rose.
Asian and European stocks saw gains across the board, as investors digested economic data in their respective regions.
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CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: Alerts Sign-Up, Information Technology, Investing | Tagged: Alphabet, Asian stocks, DJIA, European stocks, NASDAQ, Netflix, PPG, S&P 500, Technology rally, technology stock rally, Treasury yields |
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