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Stock market news 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 about 0.5 %, while the Dow concluded just a tick above the flatline. U.S. stocks shook off earlier declines after tracking 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 gains to fall greater than 1 % and pull back out of a record extremely high, after the company posted a surprise quarterly profit and produced Disney+ streaming subscribers much more than expected. Newly public organization Bumble (BMBL), which set about trading on the Nasdaq on Thursday, rose another 7 % after jumping sixty three % in the public debut of its.

Over the older couple weeks, investors have absorbed a bevy of stronger than expected earnings benefits, with corporate earnings rebounding way quicker than expected despite the continuous pandemic. With more than 80 % of companies 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 amounts, in accordance with an analysis by Credit Suisse analyst Jonathan Golub.

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

Stocks have continued to set fresh record highs against this backdrop, and as fiscal and monetary policy support stay robust. But as investors come to be used to firming corporate functionality, companies could possibly have to top even bigger expectations to be rewarded. This can in turn put some pressure on the broader market in the near-term, and warrant much more astute assessments of specific stocks, based on some strategists.

“It is no secret that S&P 500 performance continues to be really formidable over the past several calendar years, driven mainly through valuation development. However, with the index P/E [price-to-earnings ratio] recently eclipsing its previous 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 work, strong EPS growth will be important for the next leg higher. Fortunately, that is exactly what present expectations are forecasting. Nevertheless, we also discovered that these kinds of’ EPS-driven’ periods tend to be challenging from an investment strategy standpoint.”

“We assume that the’ easy cash days’ are over for the time being and investors will need to tighten up their focus by evaluating the merits of individual stocks, rather than chasing the momentum laden practices who have just recently dominated the expense landscape,” he added.

4:00 p.m. ET: Stocks end higher, S&P 500 and Nasdaq reach history closing highs
Here’s exactly where the major stock indexes finished 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 first with President Joe Biden in the White House, bringing a new political backdrop for corporations to contemplate.

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

“In terms of government policies mentioned in conjunction with the Biden administration, climate change as well as energy policy (twenty eight), tax policy (20 ) and COVID-19 policy (19) have been cited or reviewed by the highest number of companies with this point in time in 2021,” Butters wrote. “Of these twenty eight firms, seventeen expressed support (or a willingness to work with) the Biden administration on policies to reduce carbon as well as greenhouse gas emissions. These 17 companies possibly discussed initiatives to reduce the own carbon of theirs and greenhouse gas emissions or services or merchandise they supply to help clients & customers reduce their carbon and greenhouse gas emissions.”

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

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

11:36 a.m. ET: Stocks mixed, S&P 500 and Nasdaq turn positive
Here’s in which 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 low in February: U. Michigan
U.S. consumer sentiment slid to probably the lowest level since August in February, according to the University of Michigan’s preliminary monthly survey, as Americans’ assessments of the road forward for the virus stricken economy suddenly grew much more grim.

The headline consumer sentiment index dipped to 76.2 from 79.0 in January, sharply losing out on expectations for an increase to 80.9, based on Bloomberg consensus data.

The entire loss of February was “concentrated in the Expectation Index and among households with incomes below $75,000. Households with incomes of the bottom third reported major setbacks in their present 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 financial hardships among those with the lowest incomes. Much more surprising was the finding that customers, despite the expected 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 pace toward posting weekly gains
Here’s where marketplaces were trading just 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 yield 1.19%

9:05 a.m. ET: Equity funds see highest weekly inflows ever as investors pile into tech stocks: Bank of America
Stock cash just simply saw their largest ever week 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 profit throughout the week, the firm added.

Tech stocks in turn saw the own record week of theirs of inflows during $5.4 billion. U.S. large cap stocks saw the second largest week of theirs 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 keep on piling into stocks amid low interest rates, along with hopes of a strong recovery for corporate earnings and the economy. The firm’s proprietary “Bull as well as 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
Below were the primary moves 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, down 17.75 points or even 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 markets were trading Thursday as over night 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 32 points or even 0.1%

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

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