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Stock market news live updates: S&P 500 rises to a fresh record closing huge

Stocks concluded higher on Friday, with the S&P 500 and Nasdaq closing out the session at record levels.

The S&P 500 and Nasdaq each rose aproximatelly 0.5 %, even though the Dow ended only a tick above the flatline. U.S. stocks shook off earlier declines after monitoring a drop in overseas equities, after new data showed that UK gross domestic product (GDP) slumped by a report 9.9 % in 2020 as a virus-induced recession swept the nation.

Shares of Dow component Disney (DIS) reversed earlier profits to fall more than 1 % and pull back from a record extremely high, after the company posted a surprise quarterly profit and produced Disney+ streaming prospects more than expected. Newly public company Bumble (BMBL), which began trading on the Nasdaq on Thursday, rose another seven % after jumping 63 % in its public debut.

Over the past couple weeks, investors have absorbed a bevy of much stronger than expected earnings results, with corporate earnings rebounding much faster than expected despite the continuous pandemic. With at least eighty % of businesses these days having reported fourth-quarter results, S&P 500 earnings per share (EPS) have topped estimates by seventeen % in aggregate, and bounced back above pre COVID levels, in accordance with an analysis by Credit Suisse analyst Jonathan Golub.

good government behavior and “Prompt mitigated the [virus related] injury, leading to outsized economic and earnings surprises,” Golub said. “The earnings recovery has been considerably more robust than we might have thought possible when the pandemic for starters took hold.”

Stocks have continued to set up fresh record highs against this backdrop, and as fiscal and monetary policy assistance stay strong. But as investors come to be accustomed to firming business performance, businesses might need to top greater expectations to be rewarded. This may in turn put some pressure on the broader market in the near-term, as well as warrant much more astute assessments of specific stocks, based on some strategists.

“It is actually no secret that S&P 500 performance has long been pretty formidable over the past several calendar years, driven primarily via valuation development. Nevertheless, with the index P/E [price-to-earnings ratio] recently eclipsing its prior dot com high, we believe that valuation multiples will start to compress in the coming months,” BMO Capital Markets strategist Brian Belski wrote in a note Thursday. “According to our job, strong EPS growth is going to be required for the next leg greater. Thankfully, that is exactly what current expectations are forecasting. But, we additionally discovered that these kinds of’ EPS-driven’ periods tend to be tricky from an investment strategy standpoint.”

“We think that the’ easy money days’ are actually over for the time being and investors will need to tighten up the aim of theirs by evaluating the merits of specific stocks, instead of chasing the momentum laden methods which have just recently dominated the expense landscape,” he added.

4:00 p.m. ET: Stocks end higher, S&P 500 and Nasdaq reach report closing highs
Here’s exactly where the main stock indexes ended the session:

S&P 500 (GSPC): +18.55 points (+0.47 %) to 3,934.93

Dow (DJI): +27.44 points (+0.09 %) to 31,458.14

Nasdaq (IXIC): +69.70 points (+0.5 %) to 14,095.47

2:58 p.m. ET:’ Climate change’ is the most cited Biden policy on corporate earnings calls: FactSet
Fourth-quarter earnings season signifies the pioneer with President Joe Biden in the White House, bringing a brand new political backdrop for corporations to contemplate.

Biden’s policies around climate change as well as environmental protections have been the most-cited political issues brought up on company earnings calls thus far, in accordance with an analysis from FactSet’s John Butters.

“In terms of government policies talked about in conjunction with the Biden administration, climate change as well as energy policy (28), tax policy (twenty COVID-19 and) policy (nineteen) have been cited or discussed by probably the highest number of companies with this point in time in 2021,” Butters wrote. “Of these twenty eight firms, seventeen expressed support (or perhaps a willingness to work with) the Biden administration on policies to reduce carbon and greenhouse gas emissions. These seventeen companies both discussed initiatives to minimize their own carbon and greenhouse gas emissions or perhaps services or products they give to assist clientele and customers lower the carbon of theirs and greenhouse gas emissions.”

“However, 4 businesses also expressed some concerns about the executive order setting up a moratorium on new engine oil as well as gas leases on federal lands (plus offshore),” he added.

The list of 28 companies discussing climate change and energy policy encompassed companies from a diverse array of industries, like JPMorgan Chase, United Airlines Holdings and 3M, alongside standard oil majors as Chevron.

11:36 a.m. ET: Stocks combined, S&P 500 and Nasdaq turn positive
Here’s where marketplaces were trading Friday intraday:

S&P 500 (GSPC): +7.87 points (+0.2 %) to 3,924.25

Dow (DJI): 8.77 points (0.03 %) to 31,421.93

Nasdaq (IXIC): +28.15 points (+0.21 %) to 14,053.77

Crude (CL=F): +$0.65 (+1.12 %) to $58.89 a barrel

Gold (GC=F): +$0.20 (+0.01 %) to $1,827.00 per ounce

10-year Treasury (TNX): +2.7 bps to deliver 1.185%

10:15 a.m. ET: Consumer sentiment unexpectedly plunges to a six month lower in February: U. Michigan
U.S. consumer sentiment slid to probably the lowest level after August in February, based on the Faculty of Michigan’s preliminary once a month survey, as Americans’ assessments of the path ahead for the virus-stricken economy suddenly grew more grim.

The headline consumer sentiment index dipped to 76.2 from 79.0 in January, sharply lacking expectations for an increase to 80.9, according to Bloomberg consensus data.

The whole loss in February was “concentrated in the Expectation Index and among households with incomes under $75,000. Households with incomes in the bottom third reported major setbacks in their present finances, with fewer of these households mentioning latest income gains than anytime since 2014,” Richard Curtin chief economist for the university’s Surveys of Consumers, said in a statement.

“Presumably a brand new round of stimulus payments will reduce financial hardships with those with the lowest incomes. Much more surprising was the finding that consumers, despite the likely passage of a large stimulus bill, viewed prospects for the national economy less favorably in early February than last month,” he added.

9:30 a.m. ET: Stocks open lower, but pace toward posting weekly gains
Here is in which marketplaces were trading only after the opening bell:

S&P 500 (GSPC): -8.31 points (-0.21 %) to 3,908.07

Dow (DJI): 19.64 (-0.06 %) to 31,411.06

Nasdaq (IXIC): 53.51 (+0.41 %) to 13,970.45

Crude (CL=F): -1dolar1 0.23 (0.39 %) to $58.01 a barrel

Gold (GC=F): 1dolar1 10.70 (-0.59 %) to $1,816.10 per ounce

10-year Treasury (TNX): +3.2 bps to deliver 1.19%

9:05 a.m. ET: Equity funds see highest weekly inflows ever as investors pile into tech stocks: Bank of America
Stock funds simply saw the largest ever week of theirs of inflows for the period ended February ten, with inflows totaling a record $58.1 billion, based on Bank of America. Investors pulled a total of $800 million out of gold and $10.6 billion out of cash during the week, the firm added.

Tech stocks in turn saw their own record week of inflows at $5.4 billion. U.S. large cap stocks saw their second largest week of inflows ever at $25.1 billion, and U.S. smaller cap inflows saw the third-largest week of theirs at $5.6 billion.

Bank of America warned that frothiness is rising in markets, nevertheless, as investors continue piling into stocks amid low interest rates, and hopes of a strong recovery for corporate profits and the economy. The firm’s proprietary “Bull and Bear Indicator” tracking market sentiment rose to 7.7 from 7.5, nearing an 8.0 “sell” signal.

7:14 a.m. ET Friday: Stock futures point to a lower open
The following had been the primary movements in markets, as of 7:16 a.m. ET Friday:

S&P 500 futures (ES=F): 3,904.00, printed 8.00 points or 0.2%

Dow futures (YM=F): 31,305.00, down 54 points or even 0.17%

Nasdaq futures (NQ=F): 13,711.25, printed 17.75 points or perhaps 0.13%

Crude (CL=F): 1dolar1 0.43 (-0.74 %) to $57.81 a barrel

Gold (GC=F): -1dolar1 9.50 (-0.52 %) to $1,817.30 per ounce

10-year Treasury (TNX): +0.5 bps to deliver 1.163%

6:03 p.m. ET Thursday: Stock futures tick higher
Here’s where marketplaces had been trading Thursday as overnight trading kicked off:

S&P 500 futures (ES=F): 3,904.50, printed 7.5 points or perhaps 0.19%

Dow futures (YM=F): 31,327.00, down thirty two points or 0.1%

Nasdaq futures (NQ=F): 13,703.5, down 25.5 points or 0.19%

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