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Feb. 4, 2022, 4:17 p.m. EST

S&P 500 retakes 4,500, and Nasdaq Composite rises 1.6% as stock market books 2nd weekly gain in a row after jobs report

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By Mark DeCambre

U.S. stocks mostly closed higher Friday, as investors focused on large-capitalization companies quarterly results, which helped ease concerns about a more aggressive Federal Reserve following a much stronger-than-expected January jobs report.

  • The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.05% closed down by about 21 points, or less than 0.1%, to reach 35,089, on a preliminary basis. Declines in UnitedHealth Group Inc . /zigman2/quotes/210453738/composite UNH +0.73% , Home Depot /zigman2/quotes/208081807/composite HD +1.75% and 3M Co . /zigman2/quotes/205029460/composite MMM -0.71% helped to overshadow big gains in Goldman Sachs Group Inc . /zigman2/quotes/209237603/composite GS +0.74% and salesforce.com /zigman2/quotes/200515854/composite CRM +1.91% .

  • The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.06% rose 23 points, or 0.5%, to end at around 4,500, powered by gains in consumer discretionary /zigman2/quotes/210600228/delayed XX:SP500.25 +1.97% , up 3.7%, with Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +3.15% serving as the biggest constituent of that sector.

  • The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.90% advanced 1.6% to 14,098.

  • For the week, the Dow rose 1.1%, the S&P 500 advanced 1.6% and the Nasdaq Composite climbed 2.4%.

  • It was the second straight weekly climb for the three major stock gauges.

  • The 2-year Treasury note yields /zigman2/quotes/211347045/realtime BX:TMUBMUSD02Y 0.00% 1.322%, marking the biggest one-day yield gain since March 10, 2020 and its highest yield since Feb. 21, 2020, based on 3 p.m. Eastern Time values.

Friday’s trade came as the government reported that the U.S. economy  added 467,000 jobs  in January and hiring was much stronger at the end of 2021 than originally estimated.

The unemployment rate ticked up to 4% from 3.9%, while the percentage of people in the labor force ticked up to a pandemic high of 62.2%.

Meanwhile, Amazon shares soared around 13%, buoying the Nasdaq after the e-commerce giant delivered  blowout results  late Thursday. Some $11.8 billion of the $14.3 billion fourth-quarter profit it reported was from an investment in Rivian Automotive, which went public in the quarter.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,097.26
+321.83 +1.05%
Volume: 313.35M
July 1, 2022 5:45p
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/zigman2/quotes/210453738/composite
US : U.S.: NYSE
$ 517.40
+3.77 +0.73%
Volume: 2.43M
July 1, 2022 4:00p
P/E Ratio
28.31
Dividend Yield
1.28%
Market Cap
$485.41 billion
Rev. per Employee
$850,143
loading...
/zigman2/quotes/208081807/composite
US : U.S.: NYSE
$ 279.08
+4.81 +1.75%
Volume: 2.82M
July 1, 2022 4:00p
P/E Ratio
17.72
Dividend Yield
2.72%
Market Cap
$286.83 billion
Rev. per Employee
$310,976
loading...
/zigman2/quotes/205029460/composite
US : U.S.: NYSE
$ 128.49
-0.92 -0.71%
Volume: 3.72M
July 1, 2022 4:03p
P/E Ratio
13.38
Dividend Yield
4.64%
Market Cap
$73.12 billion
Rev. per Employee
$371,926
loading...
/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 299.23
+2.21 +0.74%
Volume: 1.75M
July 1, 2022 4:00p
P/E Ratio
5.81
Dividend Yield
2.67%
Market Cap
$102.77 billion
Rev. per Employee
$1.32M
loading...
/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 168.20
+3.16 +1.91%
Volume: 4.56M
July 1, 2022 4:00p
P/E Ratio
163.25
Dividend Yield
N/A
Market Cap
$167.36 billion
Rev. per Employee
$379,924
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,825.33
+39.95 +1.06%
Volume: 2.20B
July 1, 2022 5:45p
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/zigman2/quotes/210600228/delayed
add Add to watchlist XX:SP500.25
XX : S&P US
1,098.96
+21.18 +1.97%
Volume: 379.72M
July 1, 2022 5:45p
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 109.56
+3.35 +3.15%
Volume: 73.02M
July 1, 2022 4:00p
P/E Ratio
52.84
Dividend Yield
N/A
Market Cap
$1114.71 billion
Rev. per Employee
$297,107
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
11,127.85
+99.11 +0.90%
Volume: 4.11M
July 1, 2022 5:16p
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/zigman2/quotes/211347045/realtime
add Add to watchlist BX:TMUBMUSD02Y
BX : Tullett Prebon
2.84
0.00 0.00%
Volume: 0.00
July 1, 2022 1:56p
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