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Feb. 8, 2022, 4:16 p.m. EST

Dow industrials post best day in over a week and broader stock market rallies despite 10-year’s rise near 2%

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By Mark DeCambre

U.S. stocks posted strong gains on Tuesday, with the Dow industrials clinching the best session in over a week, as investors took a pause from gobbling up energy shares /zigman2/quotes/210600521/delayed XX:SP500.10 +2.48% to spread the wealth to other sectors of the market, including materials /zigman2/quotes/210599855/delayed XX:SP500.15 -0.81% , financials /zigman2/quotes/210599854/delayed XX:SP500.40 -0.24% and consumer discretionary /zigman2/quotes/210600228/delayed XX:SP500.25 -0.71% .

  • The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.07% rose 372 points, or 1.1%, to reach around 35,463, on a preliminary basis, which would represent the best gain since Jan. 31, FactSet data show.

  • The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.0054% closed up 0.8% to about 4,522, roughly.

  • The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.37% closed up 1.3% to reach around 14,195.

  • The 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +1.59% yields 1.954%, up 3.9 basis points, reaching a new 52-week high and its highest rate since July 31, 2019. Yields rise as prices for debt fall.

  • The 2-year Treasury note /zigman2/quotes/211347045/realtime BX:TMUBMUSD02Y +1.68% yields 1.339%, rising 4.5 basis points and marking its own 52-week high, representing its highest level since Feb. 21, 2020.

In corporate news:

  • Peloton Interactive Inc . /zigman2/quotes/208035743/composite PTON -2.86% confirmed that co-founder John Foley will step down  as chief executive and that it will implement a cost-cutting plan that will lead to 2,800 job cuts. Shares jumped around 25%.

  • Shares of  Pfizer Inc. /zigman2/quotes/202877789/composite PFE +0.74% fell 3.6% after the drugmaker topped Wall Street profit forecasts but  missed on revenues .

/zigman2/quotes/210600521/delayed
add Add to watchlist XX:SP500.10
XX : S&P US
560.57
+13.55 +2.48%
Volume: 118.85M
June 27, 2022 12:46p
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/zigman2/quotes/210599855/delayed
add Add to watchlist XX:SP500.15
XX : S&P US
477.45
-3.90 -0.81%
Volume: 36.46M
June 27, 2022 12:46p
loading...
/zigman2/quotes/210599854/delayed
add Add to watchlist XX:SP500.40
XX : S&P US
537.43
-1.29 -0.24%
Volume: 99.39M
June 27, 2022 12:46p
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/zigman2/quotes/210600228/delayed
add Add to watchlist XX:SP500.25
XX : S&P US
1,144.81
-8.23 -0.71%
Volume: 171.63M
June 27, 2022 12:46p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,523.22
+22.54 +0.07%
Volume: 141.74M
June 27, 2022 12:56p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,911.53
-0.21 -0.0054%
Volume: 989.09M
June 27, 2022 12:56p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,565.14
-42.48 -0.37%
Volume: 2.53M
June 27, 2022 12:56p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
3.19
+0.05 +1.59%
Volume: 0.00
June 27, 2022 12:56p
loading...
/zigman2/quotes/211347045/realtime
add Add to watchlist BX:TMUBMUSD02Y
BX : Tullett Prebon
3.13
+0.05 +1.68%
Volume: 0.00
June 27, 2022 12:55p
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/zigman2/quotes/208035743/composite
US : U.S.: Nasdaq
$ 10.70
-0.32 -2.86%
Volume: 4.47M
June 27, 2022 12:56p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.71 billion
Rev. per Employee
$443,350
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 51.97
+0.38 +0.74%
Volume: 7.86M
June 27, 2022 12:56p
P/E Ratio
11.93
Dividend Yield
3.08%
Market Cap
$289.47 billion
Rev. per Employee
$1.17M
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