KEYT on Nostr: Stocks surge Friday, led by tech and fueled by jobs ========== US stocks rose on ...
Stocks surge Friday, led by tech and fueled by jobs
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US stocks rose on Friday as investors continued to parse strong tech earnings and a searing jobs report. The Dow rose 135 points, or 0.4%. The S&P 500 gained 1.1% and the Nasdaq Composite climbed 1.7%. The US economy added a staggering 353,000 jobs in January, blowing past economists’ expectations of 176,500 jobs last month. Some investors say that the labor market’s continued show of resilience confirms that an interest rate cut is off the table in March. Tech stocks were the winners of Friday’s session, following strong earnings reports from Meta Platforms and Amazon the prior evening. Meta Platforms shares jumped 20.3% to close at a record high of $474.99 after the company reported a surge in profit, its first-ever cash dividend and a $50 billion share buyback. Amazon shares rose 7.9% after the e-commerce giant reported solid earnings for its latest quarter. Microsoft shares rose 1.8% to a fresh record-high close of $411.22.
#Stocks #Tech #Jobs #Economy #Earnings
https://keyt.com/news/money-and-business/cnn-business-consumer/2024/02/02/stocks-surge-friday-led-by-tech-and-fueled-by-jobs/
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US stocks rose on Friday as investors continued to parse strong tech earnings and a searing jobs report. The Dow rose 135 points, or 0.4%. The S&P 500 gained 1.1% and the Nasdaq Composite climbed 1.7%. The US economy added a staggering 353,000 jobs in January, blowing past economists’ expectations of 176,500 jobs last month. Some investors say that the labor market’s continued show of resilience confirms that an interest rate cut is off the table in March. Tech stocks were the winners of Friday’s session, following strong earnings reports from Meta Platforms and Amazon the prior evening. Meta Platforms shares jumped 20.3% to close at a record high of $474.99 after the company reported a surge in profit, its first-ever cash dividend and a $50 billion share buyback. Amazon shares rose 7.9% after the e-commerce giant reported solid earnings for its latest quarter. Microsoft shares rose 1.8% to a fresh record-high close of $411.22.
#Stocks #Tech #Jobs #Economy #Earnings
https://keyt.com/news/money-and-business/cnn-business-consumer/2024/02/02/stocks-surge-friday-led-by-tech-and-fueled-by-jobs/