London, Wednesday, 2 February 2022 -
US Markets summary
On Wednesday, US equities rose for the fourth straight session, as the tech surge continued following positive earnings reports from major corporations.
The Dow Jones gained 225 points, the S&P 500 gained 0.9 percent, and the Nasdaq Composite gained 0.5 percent. On the corporate front, Alphabet's stock rose more than 7% after the company's quarterly earnings beat expectations and it announced a 20-for-1 stock split.
Advanced Micro Devices and General Motors both above forecasts; however Paypal and Starbucks delivered disappointing results.
After the markets close today, Meta, Qualcomm, and T-Mobile are also expected to announce earnings. Investors dismissed the ADP report as it revealed an unexpected 301K job loss last month, despite estimates of approximately 200K new positions.
According to JOLTS data released yesterday, job opportunities increased in December, while the quit rate remained high. Nonfarm payrolls are due on Friday, which is a big deal.
European Markets summary
The DAX finished little changed at 15617, while other major European bourses finished higher on Wednesday, with the Stoxx 600 rising 0.5 percent, lifted primarily by tech stocks by spillover effects from Alphabet's upbeat quarterly results.
In Europe, TeamViewer announced a €300 million share repurchase program and confirmed its 2022 projection, citing revenue growth of 9% in the fourth quarter and 10% for the entire fiscal year, despite a smaller operating profit margin.
Santander, Spain's largest bank, reported strong fourth-quarter results and promised to boost profitability even more when interest rates rise.
Meanwhile, traders are keeping a close eye on the impasse between Russia and the West over Ukraine, which has seen the US move another 2000 troops to Europe.
In terms of data, annual inflation in the Eurozone hit a new high of 5.1 percent in January, and all eyes are now on the European Central Bank's monetary policy decision tomorrow for any updates on the central bank's inflation outlook and tightening plans.
U.S. Stock Market Indexes
S&P 500: +42.84 (+0.94%) to 4,589.38 as at 4:05 p.m. ET
Nasdaq: +71.54 (+0.50%) to 14,417.554:05 p.m. ET
Dow Jones: +224.09 (+0.63%) to 35,629.334:05 p.m. ET
European Stock Market Indexes
STOXX Europe 600: +2.58 (0.54%) at 477.44 as on Feb 2, 5:30 PM GMT+1
FTSE 100 in London: +47.22 (0.63%) at 7,583.00 as on Feb 2, 4:35 PM GMT
DAX 30 in Germany: −5.62 (0.036%) at 15,613.77 as on Feb 2, 5:55 PM GMT+1
CAC 40 in France: +15.78 (0.22%) at 7,115.27 as on
FTSE MIB 30 in Italy: +163.84 (0.60%) at 27,388.73 as on Feb 2, 5:35 PM GMT+1
IBEX 35 in Spain: −13.50 (0.15%) at 8,713.20 as on Feb 2, 5:38 PM GMT+1
Ten-year U.S. Treasury note: -3.4 bps to yield 1.7660%
Dollar index: -0.39 -0.40% at 96.00 as on Feb 2, 2022 at 4:14 p.m. EST
VIX volatility index: −0.41 (1.87%) at 21.55 as on Feb 2, 3:09 PM CST
Brent crude: -0.06 -0.07% at $ 89.41 as on Feb 2, 2022 at 9:16 p.m. GMT
West Texas Intermediate: -0.11 -0.12% at $ 88.09 as on Feb 2, 2022 at 4:17 p.m. EST
Gold: +6.28 or +0.35% $ 1,807.09 an ounce as on Feb 2, 2022 at 16:29 NY Time
Silver: +0.01 or +0.05% $ 22.64 an ounce as on Feb 2, 2022 at 16:29 NY Time
Bitcoin: −1,526.20 (3.94%) at $ 37,221.90 as on Feb 2, 9:24 PM UTC
Ethereum: −112.44 (4.03%) at $ 2,680.00 as on Feb 2, 9:30 PM UTC
(Written and edited by: The Decision Maker)