Dow Extends Win Streak Ahead of Key Inflation Data

Falling bond yields helped the Nasdaq and S&P 500 score wins, too

Digital Content Manager
Feb 9, 2022 at 4:28 PM
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The Dow added 305 points on Wednesday, extending its win streak for a third-straight session, as investors unpacked more upbeat earnings reports. The Nasdaq and S&P 500 also walked away with solid wins, as the 10-year Treasury yield pulled back from its recent highs, and traders continued to rotate back into the tech sector. Wall Street's "fear gauge," also known as the Cboe Volatility Index (VIX), logged its fourth consecutive loss.

Investors are now eyeing tomorrow's inflation report, which could prompt action from the Federal Reserve. They will also have quarterly results from Walt Disney (DIS) and Uber Technologies (UBER) to work through, both of which just stepped into the earnings confessional.

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

  • This marijuana stock was on fire after an earnings win.
  • How traders banked on Meta Platform stock's freefall.
  • Plus, Enphase Energy stock blasted in the options pits; bull notes galore for THC; and chip stock scores upgrade.

The Dow Jones Average (DJI - 35,768.06) added 305.3 points, or 0.9% for the day. Walt Disney (DIS) led the gainers with a 3.3% pop, while Amgen (AMGN) paced the laggards with a 1.6% drop.

The S&P 500 Index (SPX - 4,587.18) rose 65.6 points, or 1.5% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,490.37) gained 295.9 points, or 2.1% for today's session.

Lastly, the Cboe Volatility Index (VIX - 19.96) shed 1.5 point, or 6.9% for the day.

closing summary feb9

nyse nasdaq Feb9

5 Things To Know Today

  1. New York will lift its indoor mask mandate for unvaccinated patrons as Covid-19 positivity rates and hospitalizations subside, and omicron cases fall. (CNBC)
  2. Tesla (TSLA) said California plans to sue the company for “systematic racial discrimination and harassment” after a three-year investigation. (MarketWatch)
  3. Unpacking Enphase Energy stock's post-earnings options surge.
  4. Why analysts blasted Tenet Healthcare stock with bull notes today.
  5. Brokerage firm praises semiconductor stock on attractive entry point. 

Earnings Feb9

UVOL Feb9

Gold Scores Fourth-Straight Win as Bond Yields Fall

Oil prices were higher on Tuesday, though black gold still finished below the $90 mark. Negotiations between the U.S. and Iran over a nuclear deal continued to weigh, though an agreement appears to be far off. March-dated crude rose 30 cents, or 0.3%, to settle at $89.66 per barrel for the day.

Meanwhile, gold prices extended their win streak for a fourth-straight session. Lower global bond yields boosted the yellow metal today, though investors are now eyeing Thursday's inflation report. In turn, April-dated gold added $8.70, or 0.5%, to close at $1,836.60 per ounce. 

 




 
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