Stock market live: S&P 500 rises to a fresh record closing huge

Stocks finished higher on Friday, with the S&P 500 and Nasdaq closing out the session at record levels.

The S&P 500 and Nasdaq each rose about 0.5 %, while the Dow finished only a tick above the flatline. U.S. stocks shook off earlier declines after following a drop in overseas equities, after new data showed that UK gross domestic product (GDP) slumped by a report 9.9 % in 2020 as a virus induced recession swept the nation.

Shares of Dow component Disney (DIS) reversed earlier benefits to fall more than 1 % and guide back from a record high, after the company posted a surprise quarterly benefit and produced Disney+ streaming prospects much more than expected. Newly public organization Bumble (BMBL), which began trading on the Nasdaq on Thursday, rose another 7 % after jumping sixty three % in its public debut.

Over the older couple weeks, investors have absorbed a bevy of much stronger than expected earnings results, with company profits rebounding way quicker than expected regardless of the continuous pandemic. With over eighty % of businesses right now having claimed fourth-quarter results, S&P 500 earnings per share (EPS) have topped estimates by seventeen % in aggregate, and bounced back above pre-COVID amounts, in accordance with an analysis by Credit Suisse analyst Jonathan Golub.

generous government behavior and “Prompt mitigated the [virus-related] damage, leading to outsized economic and earnings surprises,” Golub said. “The earnings recovery has been considerably more powerful than we could have imagined when the pandemic first took hold.”

Stocks have continued to establish new record highs against this backdrop, and as monetary and fiscal policy assistance stay robust. But as investors become used to firming business functionality, businesses could possibly have to top greater expectations to be rewarded. This can in turn put some pressure on the broader market in the near-term, as well as warrant more astute assessments of individual stocks, according to some strategists.

“It is no secret that S&P 500 performance continues to be very formidable over the past few calendar years, driven mostly via valuation development. However, with the index P/E [price-to-earnings ratio] recently eclipsing its previous dot com high, we believe that valuation multiples will begin to compress in the coming months,” BMO Capital Markets strategist Brian Belski wrote in a note Thursday. “According to the job of ours, strong EPS growth would be important for the following leg higher. Thankfully, that’s precisely what current expectations are forecasting. But, we also found that these sorts of’ EPS-driven’ periods tend to become more complicated from an investment strategy standpoint.”

“We think that the’ easy cash days’ are more than for the time being and investors will need to tighten up their focus by evaluating the merits of specific stocks, instead of chasing the momentum laden practices that have recently dominated the expense landscape,” he added.

4:00 p.m. ET: Stocks end higher, S&P 500 and Nasdaq reach report closing highs
Here is where the main stock indexes ended the session:

S&P 500 (GSPC): +18.55 points (+0.47 %) to 3,934.93

Dow (DJI): +27.44 points (+0.09 %) to 31,458.14

Nasdaq (IXIC): +69.70 points (+0.5 %) to 14,095.47

2:58 p.m. ET:’ Climate change’ is the most-cited Biden policy on company earnings calls: FactSet
Fourth-quarter earnings season marks the first with President Joe Biden in the White House, bringing an innovative political backdrop for corporations to contemplate.

Biden’s policies around environmental protections and climate change have been the most-cited political issues brought up on company earnings calls up to this point, in accordance with an analysis from FactSet’s John Butters.

“In terms of government policies discussed in conjunction with the Biden administration, climate change as well as energy policy (28), tax policy (20 ) and COVID-19 policy (nineteen) have been cited or perhaps talked about by probably the highest number of businesses through this point on time in 2021,” Butters wrote. “Of these twenty eight companies, seventeen expressed support (or a willingness to the office with) the Biden administration on policies to reduce carbon and greenhouse gas emissions. These 17 companies either discussed initiatives to reduce their very own carbon and greenhouse gas emissions or perhaps merchandise or services they supply to help clientele & customers lower the carbon of theirs and greenhouse gas emissions.”

“However, four companies also expressed some concerns about the executive order establishing a moratorium on new engine oil as well as gas leases on federal lands (and also offshore),” he added.

The list of 28 companies discussing climate change as well as energy policy encompassed businesses from a diverse array of industries, including JPMorgan Chase, United Airlines Holdings and 3M, alongside traditional oil majors like Chevron.

11:36 a.m. ET: Stocks combined, S&P 500 and Nasdaq turn positive
Here’s in which marketplaces had been trading Friday intraday:

S&P 500 (GSPC): +7.87 points (+0.2 %) to 3,924.25

Dow (DJI): 8.77 points (-0.03 %) to 31,421.93

Nasdaq (IXIC): +28.15 points (+0.21 %) to 14,053.77

Crude (CL=F): +$0.65 (+1.12 %) to $58.89 a barrel

Gold (GC=F): +$0.20 (+0.01 %) to $1,827.00 per ounce

10-year Treasury (TNX): +2.7 bps to yield 1.185%

10:15 a.m. ET: Consumer sentiment suddenly plunges to a six month low in February: U. Michigan
U.S. consumer sentiment slid to the lowest level after August in February, in accordance with the Faculty of Michigan’s preliminary monthly survey, as Americans’ assessments of the road forward for the virus-stricken economy unexpectedly grew more grim.

The headline consumer sentiment index dipped to 76.2 from 79.0 in January, sharply losing out on expectations for a rise to 80.9, according to Bloomberg consensus data.

The entire loss of February was “concentrated in the Expectation Index and involving households with incomes under $75,000. Households with incomes of the bottom third reported major setbacks in their current finances, with fewer of these households mentioning recent income gains than anytime since 2014,” Richard Curtin chief economist for the university’s Surveys of Consumers, said in a statement.

“Presumably a new round of stimulus payments will bring down fiscal hardships with those with probably the lowest incomes. More shocking was the finding that customers, despite the likely passage of a large stimulus bill, viewed prospects for the national economy less favorably in early February than last month,” he added.

9:30 a.m. ET: Stocks open lower, but speed toward posting weekly gains
Here’s where marketplaces were trading just after the opening bell:

S&P 500 (GSPC): 8.31 points (0.21 %) to 3,908.07

Dow (DJI): 19.64 (0.06 %) to 31,411.06

Nasdaq (IXIC): -53.51 (+0.41 %) to 13,970.45

Crude (CL=F): -1dolar1 0.23 (0.39 %) to $58.01 a barrel

Gold (GC=F): -1dolar1 10.70 (0.59 %) to $1,816.10 per ounce

10-year Treasury (TNX): +3.2 bps to yield 1.19%

9:05 a.m. ET: Equity funds see highest weekly inflows actually as investors pile into tech stocks: Bank of America
Stock funds just simply discovered the largest ever week of theirs of inflows for the period ended February ten, with inflows totaling a record $58.1 billion, according to Bank of America. Investors pulled a total of $800 million out of gold and $10.6 billion out of money throughout the week, the firm added.

Tech stocks in turn saw their own record week of inflows during $5.4 billion. U.S. large cap stocks saw the second largest week of theirs of inflows ever at $25.1 billion, and U.S. tiny cap inflows saw the third largest week of theirs at $5.6 billion.

Bank of America warned that frothiness is rising in markets, nonetheless, as investors keep piling into stocks amid low interest rates, and hopes of a solid recovery for the economy and corporate earnings. The firm’s proprietary “Bull as well as Bear Indicator” tracking market sentiment rose to 7.7 from 7.5, nearing an 8.0 “sell” signal.

7:14 a.m. ET Friday: Stock futures point to a lower open
Below were the primary moves in markets, as of 7:16 a.m. ET Friday:

S&P 500 futures (ES=F): 3,904.00, down 8.00 points or 0.2%

Dow futures (YM=F): 31,305.00, down fifty four points or perhaps 0.17%

Nasdaq futures (NQ=F): 13,711.25, down 17.75 points or 0.13%

Crude (CL=F): -1dolar1 0.43 (-0.74 %) to $57.81 a barrel

Gold (GC=F): 1dolar1 9.50 (0.52 %) to $1,817.30 per ounce

10-year Treasury (TNX): +0.5 bps to deliver 1.163%

6:03 p.m. ET Thursday: Stock futures tick higher
Here is in which marketplaces had been trading Thursday as overnight trading kicked off:

S&P 500 futures (ES=F): 3,904.50, down 7.5 points or 0.19%

Dow futures (YM=F): 31,327.00, down thirty two points or even 0.1%

Nasdaq futures (NQ=F): 13,703.5, printed 25.5 points or perhaps 0.19%