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Jan. 25, 2021, 4:13 p.m. EST

S&P 500, Nasdaq eke out record closes in choppy Monday trading as investors ponder bubbliciousness of GameStop

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By Mark DeCambre

U.S. stocks on Monday concluded a topsy-turvy trading session at or near records to start the busiest week of corporate quarterly earnings in the fourth-quarter, as well as a stretch that features a meeting of the Federal Reserve and a first read of U.S. GDP for the last three months of 2020. The Dow Jones Industrial Average [: DJIA] finished the day off 0.1% at around 30,960, but had seen an intraday low at 30,564.06, FactSet data show. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.54% booked a 0.4% gain to finish at a record at around 3,855, while the Nasdaq Composite Index [: COMP] closed at a record at 13,636, up 0.7%. Investors are watching for quarterly results from the likes of Apple Inc. /zigman2/quotes/202934861/composite AAPL -4.17% , Tesla Inc. /zigman2/quotes/207307745/composite TLSA -3.83% and Facebook Inc. /zigman2/quotes/205064656/composite FB -3.39% all due on Wednesday. Large-cap tech-related companies have been the big winners of the COVID-19 pandemic, thriving from the stay-at-home environment, which has also accelerated a number of positive tech trends. Meanwhile, shares of videogame retailer GameStop /zigman2/quotes/203755179/composite GME +41.21% surged after storming 51% higher on Friday to leave it up more than 240% so far this month. The most recent gains came after short selling firm Citron Research and speculative buyers organizing on Reddit clashed over the videogames retailer. Market participants are worried if trading in the company is indicative of the speculative nature of the current market that has been supported by fiscal spending and by ultralow rates fostered by the Fed. This week, the central bank will update its policy on Wednesday and the first reading U.S. economic growth in the fourth quarter will be released on Thursday. That data come as no fewer than 118 companies deliver their quarterly earnings in a jam-packed week on Wall Street, with investors looking to justify ever-rising prices against corporate earnings and revenue.

/zigman2/quotes/210599714/realtime
US : S&P US
3,821.35
-20.59 -0.54%
Volume: 2.99B
March 8, 2021 5:05p
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 116.36
-5.06 -4.17%
Volume: 152.51M
March 8, 2021 4:00p
P/E Ratio
31.46
Dividend Yield
0.70%
Market Cap
$2038.41 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/207307745/composite
US : U.S.: Nasdaq
$ 2.76
-0.11 -3.83%
Volume: 127,519
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$279.71 million
Rev. per Employee
N/A
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/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 255.31
-8.97 -3.39%
Volume: 18.30M
March 8, 2021 4:00p
P/E Ratio
25.27
Dividend Yield
N/A
Market Cap
$752.58 billion
Rev. per Employee
$1.47M
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 194.50
+56.76 +41.21%
Volume: 63.03M
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$9.61 billion
Rev. per Employee
$461,857
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