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Benchmark US indices closed the session mixed on Monday, February 7, 2022, after technology and communication stocks retreated in a volatile session despite recent upbeat earnings.
The S&P 500 fell 0.37% to 4,483.87. The Dow Jones was flat at 35,091.13. The NASDAQ Composite fell 0.58% to 14,015.67, and the small-cap Russell 2000 rose 0.51% to 2,012.59.
Friday’s better-than-expected jobs data failed to override the rate concerns as investors took a bearish position amid a choppy session.
This week, companies such as Pfizer Inc (PFE), KKR & Co Inc (KKR), Uber Technologies (UBER), Walt Disney Company (DIS), Coca-Cola Company (KO), PepsiCo Inc (PEP), and Twitter Inc (TWTR) will report their earnings.
On Monday, nine out of the 11 S&P 500 segments closed in the green. Energy, financial, and industrial stocks were the top gainers. Communication service and technology sectors trailed.
Peloton Interactive, Inc. (PTON) stock gained over 23% after the news that several companies, including Amazon and Nike, are interested in buying the fitness equipment company.
Tyson Foods, Inc. (TSN) stock advanced more than 12% after announcing first-quarter results on Monday. It expects sales to be at the upper end of the guidance in 2022.
Spirit Airlines, Inc. (SAVE) stock soared 17% in intraday trading after announcing a merger with the Frontier Group. The combined entity plans to offer ultra-low airfare to take on bigger rivals.
Astra Space, Inc. (ASTR) stock plunged over 12% after glitches delayed its first space launch. The company was expected to make a second attempt later Monday from Cape Canaveral, Florida.
In the energy sector, Exxon Mobile Corporation (XOM) jumped 1.19%, Chevron Corporation (CVX) soared 1.91%, and ConocoPhillips (COP) rose 1.13%. EOG Resources Inc. (EOG) was up 0.84%, and Shell PLC (SHEL) jumped 1.07%.
In the financial sector, JP Morgan Chase & Co. (JPM) stock surged 0.32%, Bank of America Corporation (BAC) rose 0.50%, and Wells Fargo & Company (WFC) increased by 1.81%. Charles Schwab Corporation (SCHW) and Morgan Stanley (MS) were up 1.32% and 1.03%, respectively.
In the communication services sector, Alphabet Inc (Googl) fell 2.86%, Meta Platform Inc. (FB) declined 5.14%, and Verizon Communication Inc. (VZ) decreased by 0.60%. Comcast Corporation (CMCSA) and Netflix Inc. (NFLX) stocks fell 0.95% and 1.97%, respectively.
The global cryptocurrency market was up 5.79% to US$2.01 trillion, as per coinmarketcap.com at 4:03 pm ET. Bitcoin (BTC) price surged 5.77% to US$44,013.68 in the last 24 hours.
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Futures & Commodities
Gold futures surged 0.80% to US$1,822.35 per ounce. Silver futures increased by 2.51% to US$23.038 per ounce, while copper futures declined 0.15% to US$4.4808.
Brent oil futures decreased by 0.42% to US$92.88 per barrel and WTI crude futures were down by 0.84% to US$91.53.
Bond Market
The 30-year Treasury bond yields decreased 0.45% to 2.223, while the 10-year bond yields were down 0.55% to 1.921.
US Dollar Futures Index declined 0.07% at US$95.415.
