The blue-chip index still walked away with a weekly win, though
Stocks were mostly higher on Friday, as investors celebrated January's better-than-expected jobs report, and Big Tech bounced back on the heels of major wins from both Amazon.com (AMZN) and Snap (SNAP). The Dow reversed triple-digits gains in the last hour of trading to settle slightly below breakeven, however, while the S&P 500 joined the tech-heavy Nasdaq in the black.
All three major benchmarks logged their second-straight weekly wins, though the latter two also nabbed their best week of 2022, despite a surging 10-year Treasury yield. The Cboe Volatility Index (VIX), on the other hand, posted its worst weekly loss since late December.
Continue reading for more on today's market, including:
- Unpacking Amazon.com stock's blowout earnings.
- Snap stock skyrockets on first quarterly net profit.
- Plus, earnings beat boosts Regeneron stock; why CLX plummeted; and avoid this luxury retailer.
The Dow Jones Average (DJI - 35,089.74) fell 21.4 points, or 0.06% for the day, but gained 1% for the week. Salesforce.com (CRM) led the gainers today with a 3% pop, while 3M (MMM) paced the laggards with a 2.2% drop.
The S&P 500 Index (SPX - 4,500.53) rose 23.1 points, or 0.5% for the day, and 1.6% for the week. Meanwhile, the Nasdaq Composite (IXIC - 14,098.01) added 219.2 points, or 1.6% for today's session, and 2.4% for the week.
Lastly, the Cboe Volatility Index (VIX - 23.22) shed 1.1 points, or 4.6% for the day, and 16% for the week.
5 Things To Know Today
- The Biden administration said it will extend tariffs on imported solar cells and panels for another four years, but with changes to current provisions. (CNBC)
- Pinterest (PINS) stock soared after the social media company posted its first full-year profit, and reported more than $2 billion in sales in 2021. (MarketWatch)
- Top- and bottom-line wins give Regeneron stock a boost.
- Clorox stock took a nose dive on its quarterly earnings miss.
- Why investors should steer clear of this struggling luxury retailer.
Gold, Oil Prices Post Daily, Weekly Wins
Oil price finished Friday's session at their highest level since September 2014, while notching a 6% weekly win. Contributing to today's pop were the winter storms that are sweeping through the nation and driving up demand. In response, March-dated oil rose $2.04, or 2.3%, to settle at $92.31 per barrel for the day.
Gold prices settled higher as well to register a 1% weekly win. The yellow metal was able to recover from a dip below the psychologically significant $1,800 level, following better-than-expected jobs data. For the day, April-dated gold added $3.70, or 0.2%, to close at $1,807.80 per ounce.