Stocks Finish January Strong as Tech Sector Rallies

All three indexes finished with steep January losses, though

Managing Editor
Jan 31, 2022 at 4:25 PM
facebook twitter linkedin


Wall Street finished January with a flourish, wrapping up a volatile month on a high note. The Dow added 406 points, while the S&P 500 and Nasdaq scored wins as well, thanks to a resurgent tech sector. Nevertheless, all three indexes ended the month with steep losses, the latter two's worst month since March 2020. Meanwhile, the Cboe Volatility Index (VIX) logged its third-straight loss but finished higher for January.

Continue reading for more on today's market, including:

  • Has Nio stock found a bottom?
  • Signal says buy the dip on this tech stock.
  • Plus, Spotify stock soars; a podcast on options volume; and a big upgrade for ALGN.

The Dow Jones Average (DJI - 35,131.86) climbed 406.39 points, or 1.2% for the day. Boeing (BA) led the gainers today with a 5% pop, and Walgreens Boots Alliance (WBA) paced the laggards with a 1,4% drop. For the month, the Dow shed 3.3%.

The S&P 500 Index (SPX - 4,515.55) moved 83.7 points higher, or 1.9%, while the Nasdaq Composite (IXIC - 14,239.88) tacked on 469.31 points, or 3.4%, for today's session. For the month, the indexes lost 5.3% and 9%, respectively.

Lastly, the Cboe Volatility Index (VIX - 27.66) shed 2.8 points, or 9.3% for the day, and 4% for the week.

Closing Indexes Summary Jan 31

NYSE and Nasdaq Stats Jan 31

5 Things To Know Today

  1. Cryptocurrencies might have lost their luster, but one exchange's valuation keeps growing. (CNBC)
  2. Tensions between Russia and Europe are still bubbling. (Reuters)
  3. What the Joe Rogan drama meant for Spotify stock.
  4. Our latest podcast dives into options volume.
  5. Why today's upgrade was so notable for Align Technology stock.

There are no earnings of note to report today.

Unusual Options Activity Jan 31

Oil Scores Massive January Win

Oil scored a big win today and for January. March-dated oil added $1.33, or 1.5%, to settle at $88.15 per barrel. For the month, black gold soared 17%, fueled by the tensions between Russia and Ukraine.

Gold futures rose today, but logged a loss for the month. April-dated gold added $9.80, or 0.6%, to close at $1,796.40 per ounce. For the month, the safe-haven asset finished 1.8% lower.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners