It was an up day for the market, as all three major indexes advanced:
Change | Ending Value | |
---|---|---|
Dow Jones Industrial Average |
+83.55 [+0.66%] | 12,716.46 |
Nasdaq |
+34.43 [+1.22%] | 2,848.27 |
S&P 500 |
+11.68 [+0.89%] | 1,324.09 |
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
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