S&P 500 Closes at 5-Month High After Meta Earnings

Tech stocks helped the Nasdaq score another triple-digit win

Deputy Editor
Feb 2, 2023 at 4:27 PM
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Thanks in large part to Meta Platforms' (META) post-earnings surge, the S&P 500 finished the session at a five-month high. The Nasdaq also closed with an impressive win, advancing triple digits ahead of several Big Tech quarterly reports. The Dow, meanwhile, shed nearly 40 points, even after jobs data came in better-than-expected.

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

  • Meta stock just scored its best session since 2013.
  • What to expect from Amazon's upcoming earnings report.
  • Plus, next week's events; Tesla's overseas production; and FedEx's bull notes.

closing summary Feb2

nyse nasdaq Feb2

5 Things to Know Today 

  1. For the first time since September, the average reading on the 30-year fixed rate mortgage has fallen below 6%. (CNBC)
  2. Two U.S. Representatives are forming a bipartisan caucus to hold Big Tech and monopolies accountable. (MarketWatch
  3. Everything investors will tune into next week.
  4. Increased Chinese production boosted Tesla stock.
  5. Analysts upgraded FedEx stock after layoff announcement.

Earnings Feb2

UVOL Feb2

Gold Prices Pare Losses as U.S. Dollar Gains Strength

Oil futures extended their slide Thursday, closing at their lowest mark in more than three weeks following yesterday's U.S. crude inventories reading. For the session, March-dated crude fell 53 cents, or 0.7%, to settle at $75.88 per barrel.

Following the Federal Reserve's smallest rate hike since starting its hawkish campaign, gold prices brushed their highest intraday level in more than nine months; however, a rebounding greenback eventually pressured bullion before the session's end. April-dated gold lost $12, or 0.6%, to settle at $1,930.80 per ounce for the day.

 

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