US stocks close strong after Apple results

3 min read | January 28, 2022 02:54 PM PST | By Versha Jain

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US stocks close strong after Apple results — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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Benchmark US indices closed higher on Friday, January 28, after Apple Inc and Visa Inc posted strong quarterly results the day before.

The S&P 500 rose 2.43% to 4,431.85. The Dow Jones gained 1.65% to 34,725.47. The NASDAQ Composite was up 3.13% to 13,770.57, and the small-cap Russell 2000 rose 1.28% to 1,956.04.

The Commerce Department on Friday said the consumer spending fell in December as Omicron cases surged. Yields fell on Friday as investors rushed to buy government bonds.

Eight out of the 11 sectors of the S&P 500 closed the week in the green on Friday. Technology, real estate, and communication service sectors were the tops gainers. Energy, basic materials, and industrial segments were the bottom movers.

Apple Inc. (AAPL) stock closed at nearly 7% up in the regular session after strong fiscal first-quarter results. Its iPhone sales increased by 9% to US$71.6 billion in the quarter YoY.

Visa Inc. (V) stock rose over 9.1% in intraday trading after better-than-expected Q1 results.

Robinhood Markets, Inc. (HOOD) stock gained more than 8% after the sharp fall in the previous session. The company saw higher-than-expected losses in the quarterly results.

Chevron Corporation (CVX) stock plunged over 4% in intraday trading after posting lower-than-expected quarterly earnings.

In other technology stocks, Microsoft Corp. (MSFT) rose 1.17%, and Nvidia Corporation (NVDA) rose 1.48%. Fintech stock Mastercard Incorporated (MA) increased by 7.42%.

In the real state sector, Prologis Inc. (PLD) stock surged 2.99%, American Tower Corporation (REIT) (AMT) rose 2.99%, and Crown Castle International Corp. (REIT) (CCI) was up 4.10%. Public Storage (PSA) and Equinix Inc. (EQIX) stocks jumped 2.92% and 2.37%, respectively.

In the energy sector, Exxon Mobile Corporation (XOM) declined 0.39%, Chevron Corporation (CVX) fell 3.97%, and ConocoPhillips (COP) decreased by 1.55%. EOG Resources Inc. (EOG) was down 1.02%, and Pioneer Natural Resources Company (PXD) fell 0.15%.

The global cryptocurrency market was up 3.91% to US$1.70 trillion, as per coinmarketcap.com at 3:53 pm ET. Bitcoin (BTC) price rose 4.94% to US$37,677.60.

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Technology, real estate, and communication services were the top gainers on Friday.

Also Read: What is Terra (LUNA) crypto? All you need to know

Futures & Commodities

Gold futures fell 0.29% to US$1,787.95 per ounce. Silver futures decreased by 1.16% to US$22.413 per ounce, while copper fell 2.15% to US$4.3285.

Brent oil futures increased by 0.87% to US$88.94 per barrel and WTI crude futures were up by 0.75% to US$87.26.

Bond Market

The 30-year Treasury bond yields decreased 0.22% to 2.086, while the 10-year bond yields were down 1.34% to 1.784.

US Dollar Futures Index surged 0.01% at US$97.245.

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