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Benchmark US indices closed higher on Wednesday, February 9, after technology and consumer discretionary segments saw robust gains in intraday trading as Treasury bond yields declined.
The S&P 500 was up 1.45% to 4,587.18. The Dow Jones rose 0.86% to 35,768.06. The NASDAQ Composite was up 2.08% to 14,490.37, and the small-cap Russell 2000 rose 1.68% to 2,079.76.
The 10-Year Treasury yields withdrew after hitting a multiyear high on Tuesday, closing at 1.956. As yields move inversely to prices, Wednesday's fall helped steady the market.
Investors shrugged off rate concerns as upbeat results and signs of easing tension on the Ukrainian border lifted sentiment. They will now eagerly wait for the CPI data due on Thursday.
Technology and consumer discretionary sectors were among the top movers on the S&P 500 index on Wednesday. All 11 sectors of the index stayed in the positive territory.
Shares of AMC Entertainment Holdings, Inc. (AMC) surged 9.71% after the movie theater chain announced the appointment of Ellen Copaken as vice president of its growth strategy division. Copaken had earlier served in Frito-Lay, a division of PepsiCo, and Hostess Brands.
The GlaxoSmithKline PLC (GSK) stock tumbled 2.01% after reporting strong earnings on Wednesday. Its revenue rose 9% YoY to £9.52 billion (US$12.89 billion) in Q4, FY21.
The shares of CVS Health Corporation (CVS) fell 5.29% after its earnings guidance fell short of Wall Street expectations. Its revenue soared 10% YoY to US$76.6 billion in the fourth quarter. Its fiscal 2021 revenue rose 8.7% YoY to US$292.1 billion.
In the technology sector, Microsoft Corporation (MSFT) increased by 1.39%, NVIDIA Corporation (NVDA) gained 5.56%, and ASML Holdings N.V. rose 3.82%. Adobe Inc. (ADBE) and Accenture plc (ACN) ticked up 1.46% and 2.97%, respectively.
In the consumer discretionary sector, Tesla, Inc. (TSLA) jumped 1.58%, The Home Depot, Inc. (HD) surged 1.00%, and Nike, Inc. (NKE) soared 2.18%. Starbucks Corporation (SBUX) and Chipotle Mexican Grill, Inc. (CMG) advanced 2.55% and 9.63%, respectively.
In the real-estate sector, Prologis, Inc. (PLD) climbed 1.64%, American Tower Corporation (AMT) rose 1.71%, and Crown Castle International Corp. (CCI) gained 1.04%. Equinix, Inc. (EQIX) and Digital Realty Trust, Inc. (DLR) increased by 3.25% and 2.47%, respectively.
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Futures & Commodities
Gold futures were up 0.31% to US$1,833.55 per ounce. Silver increased by 0.39% to US$23.290 per ounce, while copper rose 3.80% to US$4.6307.
Brent oil futures increased by 1.04% to US$91.72 per barrel and WTI crude was up 0.68% to US$89.97.
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Bond Market
The 30-year Treasury bond yields were down 0.03% to 2.250, while the 10-year bond yields fell 0.55% to 1.945.
US Dollar Futures Index decreased by 0.10% to US$95.545.
