Dow Bounces Back in Style With Record Close

Earnings and economic data gave Wall Street a lift

Deputy Editor
Feb 1, 2024 at 4:22 PM
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Wall Street revved higher Thursday, after investors unpacked a deluge of economic data and earnings reports. Today's gains across the board helped stocks recover some of yesterday's steep losses that followed the Federal Reserve's rather hawkish rate cut updates. The Dow added more than 370 points for a record close, while the Nasdaq turned in a triple-digit win of its own, and the S&P 500 finished firmly in the black.

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

  • Retail stock overdue for a rebound.
  • M&A news boosts logistics stock.
  • Plus, PLUG bounces from bottom; Keytruda lifts MRK; and a chip stock in focus.

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5 Things to Know Today

    1. The healthcare division of French advertising firm Publicis will pay $350 million for its marketing efforts that fueled America's opioid crisis. (CNBC)
    2. Mortgage rates fell even though the Fed stressed it will not cut rates in March. (MarketWatch)
    3. Is the worst over for Plug Power stock?
    4. Keytruda demand delivers Merck stock a post-earnings pop.
    5. Chip stock an upgrade candidate after earnings.

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    Oil Falls on Potential Israel-Hamas Ceasefire 

    Oil turned in a loss, after speculation arose that a ceasefire agreement between Israel and Hamas may be on the table. For the session, March-dated West Texas Intermediate Crude (WTI) fell $2.03, or 2.7%, to finish at $73.82 per barrel.

    Gold futures moved slightly higher, with April-dated gold adding $3.7, or 0.2%, to settle at at $2,067.10 for the session. Bullion prices were boosted by today's jobs data report

     

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