It was an up day for the market, as all three major indexes advanced:
Dow Jones Industrial Average
If we have to assign a macro reason for the stock upticks, manufacturing reports from China, Europe, and the U.S. all showed favorable numbers. Also, ADP estimates that the U.S. added 170,000 private sector jobs in January, which was in line with estimates.
More interesting are the company-specific events.
Amazon and Facebook dominated the news. Amazon shares dropped 7.7% as it reported earnings and guided to an operating loss of as much as $200 million for next quarter. Meanwhile, Facebook filed its S-1 after market close to eventually go public. For more on the likely timeline, read this.
Looking at the Dow specifically, 26 of the 30 components rose today with no component falling more than 0.7%. Bank of America
Bank of America will be in the syndicate for the Facebook IPO, but it is Morgan Stanley
It was an eventful day for Amazon and Facebook, but remember to keep the daily news in perspective. And if you're looking for banking ideas a bit simpler than Bank of America and Morgan Stanley, there's one small bank that's flying under the radar. It has some of the best operational numbers you'll ever see. The Motley Fool featured it in its brand new free report: "The Stocks Only the Smartest Investors Are Buying." We invite you to download a free copy.
Anand Chokkavelu owns shares of Bank of America as well as long-dated options. The Motley Fool owns shares of Amazon.com and Bank of America. Motley Fool newsletter services have recommended buying shares of Amazon.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.