On 8th February 2022 was a broad rally Tuesday for the 3 US stock market bench makers. They outdid their previous day readings by closing green when the closing bell was rung. Dow Jones Industrial Average added 371.65 points (1.06%) to 35, 462.78. S&P 500 surged by 0.84% to 4,521.54. Also, Nasdaq Composite gained 1.28% rallying at 14, 194.45.
APnews.com reporter noted that tech companies and financial institutions led by banks contributed to the upward trendline for stocks that was witnessed on Wall Street Tuesday. Amazon (AMZN) recorded a 2.2% rise while Apple (AAPL.O) and Microsoft (MSFT.O0) closed the trade session with a 1% increment.
The S&P 500 banking index (SPXBK) was heavily boosted by the outstanding 10-year U.S. Treasury bond 1.9% rise that hit its topmost level yesterday, since November 2019. All this happened due to the speculation that the Fed will issue tighter money policies in the forthcoming month of March.
Also, yesterday was not only a great day for Wall Street Investors but also for global peace. French President Emmanuel Macron’s conversation with Russian President Vladimir Putin calmed some of the speculations surrounding Russia’s invasion along Ukraine’s borders. In one way or the other, it was a plus for the US Equity market. As noted by Scott Ladner a chief investment officer based in Charlotte.
When the tides are high, water levels of oceans are high too. And for the last 2 days, the Wall Streat luck has been with Peloton’s stocks. Yesterday, the equities of the fitness equipment manufacturer recorded a 25% rise. The gain was fuelled by the news that Peloton’s CEO, John Foley was stepping down. Also, he revealed that they will downsize the company by slashing 2800 job slots.
All this is happening at the heels of the rumours that big companies in NYSE are planning to take over Peloton Interactive, Inc. Amazon and Nike are the front runners in a bid to own Peloton. However, today may be a bad day for the fitness items manufacturer. They are scheduled to share with us their earnings report and most probably it will disappoint investors. As warned by Haris Anwar of Investing .com
On the negative wave of Yesterday’s trading day, we had Pfizer Inc. (PFE.N). a drug manufacturer. Their 52 weeks sales report of COVID 19 vaccines and antiviral pills was below Wall Street earning predictions. As a result, (PFE.N) declined by 2.8%. Also, the market wasn’t different for Meta (FB), their shares dropped by 2.1% even after Peter Thiel opted to step aside from Company’s Board.
Tomorrow is another vital day in our market. The Bureau of Labour Statistics is expected to release the Consumer Price Index Data for January. Pundits are arguing that the report will show that we are facing the largest inflation since 1982. On the other hand, among the companies that will be on focus are CVS Health, Toyota, and GlaxoSmithKline as they post their quarterly earnings.
