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U.S. stocks ended mostly lower on Monday as investors digested a slew of quarterly earnings reports and shifted focus to this week’s upcoming key inflation data. The Dow ended marginally higher, while the S&P 500 and Nasdaq ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added less than 0.1% or a miniscule 1.39 points to finish at 35,091.13 points in a choppy trading session. However, the index has managed to close in positive territory in five of the past seven trading sessions.
The S&P 500 lost 0.4% or 16.66 points to close at 4,483.87 points. The index is n ow just 6.5% away from its record close of 4,796.56 points attained on Jan 6.
Communication services stocks were the worst performers, while energy stocks put up a good show. The Communication Services Select Sector SPDR (XLC) shed 1.7%, while the Energy Select Sector SPDR (XLE) added 1.3%. Six the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq fell 0.6% or 82.34 points, to end at 14,015.67 points. The index is off 12.7% from its Nov 19, 2021 record close of 16,057.44 points.
The fear-gauge CBOE Volatility Index (VIX) was down 1.55% to 22.86. A total of 10.2 billion shares were traded on Monday, lower than the last 20-session average of 12.4 billion. Advancers outnumbered decliners on the NYSE by a 1.16-to-1 ratio. On Nasdaq, a 1.33-to-1 ratio favored advancing issues.
Earnings Reports Weigh on Markets
Major stocks indexes swung between modest gains and losses almost throughout Monday’s trading session as investors digested a batch of quarterly earnings reports. The earnings season is in full swing with 56% of the S&P 500 companies having already announced their quarterly results. Of these 77% of the companies have beaten estimates.
Mixed corporate results have been adding to the market volatility over the past few days and it was once again witnessed on Monday, which saw indexes swinging between gains and losses throughout the day. Shares of Tyson Foods, Inc. (TSN - Free Report) surged 12.2% after the company reported impressive quarterly results. The company reported first-quarter fiscal 2022 earnings of $2.87 per share, beating the Zacks Consensus Estimate of $1.90. Tyson Foods has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Meanwhile, shares of Netflix, Inc. (NFLX - Free Report) and Meta Platforms, Inc. continued to take a beating. Shares of Meta Platforms fell 5.1%, continuing its decline since it announced it quarterly results last week. Also shares of Netflix fell another 2% as its struggle continues since the streaming giant issued weak guidance in January.
That said, stocks were coming off a strong week following the release of a surprising strong jobs data that the United States adding 467,000 new jobs, beating economists’ expectations. Investors are now awaiting key inflation data that is scheduled to be released later this week.
No economic data was released on Monday.
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Stock Market News for Feb 8, 2022
U.S. stocks ended mostly lower on Monday as investors digested a slew of quarterly earnings reports and shifted focus to this week’s upcoming key inflation data. The Dow ended marginally higher, while the S&P 500 and Nasdaq ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added less than 0.1% or a miniscule 1.39 points to finish at 35,091.13 points in a choppy trading session. However, the index has managed to close in positive territory in five of the past seven trading sessions.
The S&P 500 lost 0.4% or 16.66 points to close at 4,483.87 points. The index is n ow just 6.5% away from its record close of 4,796.56 points attained on Jan 6.
Communication services stocks were the worst performers, while energy stocks put up a good show. The Communication Services Select Sector SPDR (XLC) shed 1.7%, while the Energy Select Sector SPDR (XLE) added 1.3%. Six the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq fell 0.6% or 82.34 points, to end at 14,015.67 points. The index is off 12.7% from its Nov 19, 2021 record close of 16,057.44 points.
The fear-gauge CBOE Volatility Index (VIX) was down 1.55% to 22.86. A total of 10.2 billion shares were traded on Monday, lower than the last 20-session average of 12.4 billion. Advancers outnumbered decliners on the NYSE by a 1.16-to-1 ratio. On Nasdaq, a 1.33-to-1 ratio favored advancing issues.
Earnings Reports Weigh on Markets
Major stocks indexes swung between modest gains and losses almost throughout Monday’s trading session as investors digested a batch of quarterly earnings reports. The earnings season is in full swing with 56% of the S&P 500 companies having already announced their quarterly results. Of these 77% of the companies have beaten estimates.
Mixed corporate results have been adding to the market volatility over the past few days and it was once again witnessed on Monday, which saw indexes swinging between gains and losses throughout the day. Shares of Tyson Foods, Inc. (TSN - Free Report) surged 12.2% after the company reported impressive quarterly results. The company reported first-quarter fiscal 2022 earnings of $2.87 per share, beating the Zacks Consensus Estimate of $1.90. Tyson Foods has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Meanwhile, shares of Netflix, Inc. (NFLX - Free Report) and Meta Platforms, Inc. continued to take a beating. Shares of Meta Platforms fell 5.1%, continuing its decline since it announced it quarterly results last week. Also shares of Netflix fell another 2% as its struggle continues since the streaming giant issued weak guidance in January.
That said, stocks were coming off a strong week following the release of a surprising strong jobs data that the United States adding 467,000 new jobs, beating economists’ expectations. Investors are now awaiting key inflation data that is scheduled to be released later this week.
No economic data was released on Monday.