“There are different ways of killing a mouse”. That saying implies that you will eventually succeed in eliminating it; no matter how cunning it can be. In the recent past, investors in US Stock Market have been so anxious about what will happen after the FED has announced hawkish policies next month. That fact alone is enough reason to chase away the investors and consequently lower all the indexes across the market.
However, Wall Street traders have another reason why they don’t shy away from investing. Companies’ earnings are what have kept us going ahead of the “CPI” release tomorrow. For instance, yesterday, Dow Jones added 305 points (0.86%) rallying at 35, 786.06 at the final hour. S&P 500 (SPX) rose with 1.45% to 4,587.18. The Nasdaq Composite was the highest gainer of the day rising by 2% to 14,490.37.
During the Wednesday trading sessions, shares of Disney surpassed our expectations. Stocks for Walt Disney Company (DIS) ticked upward by 8%. The surge happened after the “holidays host” announced that their revenue from streaming customers has doubled. Again, it was one of the many quarterly postings that has been powering the recent winning streaks.
Also, it is an open secret that tech companies are largely responsible for the daily NASDAQ jumps. So, it was not a surprise when Microsoft registered a 6.4% high. Furthermore, even Meta Platforms (FB) was not left behind, they gained 5% on Wednesday bringing to a stop 4 days of losing. Apart from Meta, Nvidia (NVDA.O) rose 2.2% boosting the S&P 500 ratings.
As we continue to find out, what is new on Wall Street, we would like to bring to your attention that the quarterly reporting season is coming to an end. During this season, S&P 500 reported 40 new highs without any new lows. Also, the tech-heavy NASDAQ posted 53 new highs alongside 56 new lows as narrated by reuters.com on 9th February 2022.
Reporters of reuters.com went ahead and revealed the average volume of shares traded in the US stock market for the past 2O market days. For example, 10.9 billion shares were exchanged yesterday. In addition to that, in the last 3 weeks’ trading records; on a daily average, 12.3 billion shares have exchanged hands.
From now henceforth, let us shift our eyes from earning reports to economic data. Today, the Bureau of Labour Statistics is expected to announce the “Consumer Price Index” for January. Due to the 0.5% inflation rate that was witnessed in December and 0.4% in January, it won’t be a lie to say that we are experiencing the largest inflation rate of 7% since 1982. And definitely, the report will be a game-changer in today’s trading sessions.
Besides the release of CPI data, we have a couple of companies that are on our watch. Their earnings will also be a factor to Wall Street indexes, today. Coca-Cola, a Dow Jones component will announce their earnings before the first bell in Conjunction with Twitter and Kellogg. After the closing bell, Zillow, Affirm, Expedia will follow.
