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

Stocks ended 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 %, while the Dow finished just a tick above the flatline. U.S. stocks shook off earlier declines after following a drop in overseas equities, after new data showed that UK gross domestic product (GDP) slumped by a record 9.9 % in 2020 as a virus induced recession swept the country.

Shares of Dow component Disney (DIS) reversed earlier benefits to fall more than one % and guide back out of a record extremely high, after the company posted a surprise quarterly benefit and produced Disney+ streaming subscribers more than expected. Newly public business Bumble (BMBL), which set about trading on the Nasdaq on Thursday, rose another 7 % after jumping sixty three % in its public debut.

Over the older couple weeks, investors have absorbed a bevy of stronger than expected earnings results, with corporate profits rebounding way quicker than expected despite the continuous pandemic. With over 80 % of companies now having claimed fourth quarter outcomes, S&P 500 earnings per share (EPS) have topped estimates by 17 % for aggregate, and bounced back above pre COVID levels, according to an analysis by Credit Suisse analyst Jonathan Golub.

generous government action and “Prompt mitigated the [virus related] injury, leading to outsized economic and earnings surprises,” Golub said. “The earnings recovery has been substantially more powerful than we could have dreamed when the pandemic first took hold.”

Stocks have continued to set fresh record highs against this backdrop, and as fiscal and monetary policy support stay strong. But as investors become comfortable with firming corporate functionality, companies could possibly have to top greater expectations in order to be rewarded. This may in turn put some pressure on the broader market in the near-term, and also warrant much more astute assessments of specific stocks, according to some strategists.

“It is no secret that S&P 500 performance has long been quite powerful over the past several calendar years, driven primarily through valuation expansion. But, with the index P/E [price-to-earnings ratio] recently eclipsing its previous dot com extremely high, we believe that valuation multiples will begin to compress in the coming months,” BMO Capital Markets strategist Brian Belski wrote in a note Thursday. “According to our work, strong EPS growth would be necessary for the following leg greater. Fortunately, that is exactly what existing expectations are forecasting. However, we additionally realized that these types of’ EPS-driven’ periods tend to be more complicated from an investment strategy standpoint.”

“We believe that the’ easy cash days’ are more than for the time being and investors will need to tighten up their focus by evaluating the merits of specific stocks, as opposed to chasing the momentum-laden practices that have recently dominated the investment 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 key 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’ will be the most-cited Biden policy on corporate earnings calls: FactSet
Fourth-quarter earnings season marks the pioneer with President Joe Biden in the White House, bringing a new political backdrop for corporations to contemplate.

Biden’s policies around climate change and environmental protections have been the most-cited political issues brought up on corporate earnings calls so far, based on an analysis from FactSet’s John Butters.

“In terms of government policies discussed in conjunction with the Biden administration, climate change as well as energy policy (twenty eight), tax policy (twenty ) and COVID-19 policy (nineteen) have been cited or perhaps discussed by probably the highest number of companies with this point on time in 2021,” Butters wrote. “Of these twenty eight firms, 17 expressed support (or even a willingness to your workplace with) the Biden administration on policies to greatly reduce carbon and greenhouse gas emissions. These 17 companies both discussed initiatives to minimize their own carbon and greenhouse gas emissions or products or services they give to support customers and customers lower the carbon of theirs and greenhouse gas emissions.”

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

The list of twenty eight firms discussing climate change and energy policy encompassed companies from a broad array of industries, like JPMorgan Chase, United Airlines Holdings and 3M, alongside traditional oil majors like Chevron.

11:36 a.m. ET: Stocks mixed, S&P 500 and Nasdaq turn positive
Here’s in which marketplaces had been 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 yield 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, according to the Faculty of Michigan’s preliminary month to month survey, as Americans’ assessments of the path ahead for the virus-stricken economy unexpectedly grew much more grim.

The title consumer sentiment index dipped to 76.2 from 79.0 in January, sharply lacking expectations for an increase to 80.9, as reported by Bloomberg consensus data.

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

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

9:30 a.m. ET: Stocks open lower, but speed toward posting weekly gains
Here is in which markets had been trading simply 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 actually as investors pile into tech stocks: Bank of America
Stock cash simply saw their largest-ever week of inflows for the period ended February 10, 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 money throughout 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. small cap inflows saw their third-largest week at $5.6 billion.

Bank of America warned that frothiness is actually rising in markets, however, as investors continue piling into stocks amid low interest rates, as well as hopes of a solid recovery for corporate earnings and the economy. The firm’s proprietary “Bull as well as Bear Indicator” monitoring 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
Here had been the main movements in markets, as of 7:16 a.m. ET Friday:

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

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

Nasdaq futures (NQ=F): 13,711.25, printed 17.75 points or 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 yield 1.163%

6:03 p.m. ET Thursday: Stock futures tick higher
Here is in which markets were trading Thursday as overnight trading kicked off:

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

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

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

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