US stock markets peaked on Friday morning after the Senate paved the way for President Biden’s $ 1.9 billion COVID-19 aid package and the job report showed a drop in the unemployment rate.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
Ek: DJI | DOW JONES AVERAGE | 31156.41 | + 100.55 | + 0.32% |
SP500 | S&P 500 | 3882.69 | +10.95 | + 0.28% |
I: COMP | NASDAQ COMPOSITION INDEX | 13797.271282 | +19.53 | + 0.14% |
The Dow Jones industrial average rose 170 points, or 0.55%, while the S&P 500 and Nasdaq Composite rose 0.48% and 0.29% respectively. Both the S&P 500 and the Nasdaq Composite traded in a record area, while the Dow was just below its own peak.
Also, support for stocks, a boost in West Texas Intermediate oil prices that were above $ 57 a barrel on Friday.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
USO | UNITED STATES OIL FUND LP | 38.12 | +0.32 | + 0.83% |
XLE | ENERGY SELECT SECTOR SPDR ETF | 42.68 | +0.48 | + 1.14% |
Shares rose despite a ho-hum job report, with the addition of 49,000 jobs in January as unemployment fell to 6.3%, according to the Department of Labor. Wall Street analysts surveyed by Refinitiv expected the addition of 50,000 jobs with the unemployment rate to remain constant at 6.7%.
In Washington, the upper house of Congress voted 51-50 early Friday morning, with Vice President Kamala Harris casting the deciding vote to pass a budget resolution for coronavirus relief. The vote paves the way for a bill that could be passed using budget reconciliation rules that would allow Democrats to avoid a Republican filibuster.
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In shares, GameStop Corp, AMC Entertainment Holdings Inc. and others received a postponement after Robinhood Markets Inc. all trade restrictions implemented have been lifted amid an increase in volatility. GameStop shares fell 84% this week to Thursday while AMC shares fell 47%.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
GME | GAMESTOP CORP | 79.07 | +25.71 | + 48.18% |
AMC | AMC ENTERTAINMENT HOLDINGS INC | 7.65 | +0.56 | + 7.90% |
BBBY | BED BATH & BEYOND INC. | 27.35 | +0.34 | + 1.26% |
BB | BLACKBERRY LIMITED | 12.69 | +0.52 | + 4.27% |
Elsewhere, Chevron Corp. made an offer to buy the remaining shares of Noble Midstream LP, which it does not yet own for $ 12.47 apiece, the same as Thursday’s closing level. The agreement, which must be approved by Noble’s board of directors, amounts to $ 1.13 billion for the company.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
CVX | CHEVRON CORP. | 89.73 | +0.67 | + 0.75% |
XOM | EXXON MOBIL CORPORATION | 49.59 | +1.27 | + 2.63% |
In terms of earnings, Ford Motor Co. lost $ 2.8 billion in the three months to December as the production of its F-150 pickup was recalled by the air cushion. The Detroit-based automaker has said by 2025 that it will spend $ 22 billion on electric vehicles and another $ 7 billion on developing autonomous vehicles.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
F | FORD MOTOR COMPANY | 11.42 | +0.04 | + 0.36% |
Peloton Interactive Inc. reported a record quarterly revenue and increased its outlook for the year, but warned that recent upgrades to its supply chain would have a short-term impact on margins.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
PTON | PELOTON INTERACTIVE | 145.56 | -11.97 | -7.60% |
Snap Inc. said its number of daily active users had increased by 22% from a year ago, but warned that the riots in Capitol Hill and Apple’s privacy changes to its operating system would outweigh the results in the current quarter.
Ticker | Safety | Last | Alter | Alter% |
---|---|---|---|---|
SNAP | SNAP INC. | 57.47 | -0.86 | -1.48% |
In commodities, gold added $ 4.50 to $ 1,795.70 per ounce.
BITCOIN ROBS OF GOLD AS PRECIOUS METAL WASHES UNDER $ 1,800
Overseas markets were mostly higher.
The French CAC 40 caused the advance in Europe to move, by 0.98%, while the German DAX 30 achieved a modest increase of 0.2% and the British FTSE 100 changed little.
In Asia, the Japanese Nikkei 225 rose 1.54%, the Hong Kong Hang Seng Index 0.6% and the Chinese Shanghai Composite fell 0.16%.