Bulletin
Investor Alert

Market Snapshot Archives | Email alerts

Jan. 29, 2022, 7:40 a.m. EST

Nasdaq Composite ends 3.1% higher as late-Friday fillip wipes out unsavory weekly stock-market losses

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Russell 2000 Index (RUT)
  • X
    Apple Inc. (AAPL)
  • X
    Robinhood Markets Inc. (HOOD)

or Cancel Already have a watchlist? Log In

By Mark DeCambre and Barbara Kollmeyer

1 2

“Apple’s blowout results are just what the tech sector needed to get out of its recent funk. The iPhone giant’s big beat could be the next catalyst to spark a rally in the tech space,” said Jesse Cohen, senior analyst at Investing.com, in a note to clients.

Opinion:   After a monster quarter, Apple’s non-forecast is good enough for Wall Street

On top of that, shares of Robinhood Markets /zigman2/quotes/228268942/composite HOOD +0.25% , which had been down double-digits in premarket trading swung higher, after the trading app closely associated with the “meme stocks” phenomenon produced a bigger-than-expected quarterly loss and reported a drop securities-trading volumes.

Opinion:   Robinhood is about to not celebrate a very unhappy anniversary

Read: Here’s what history says about stock-market returns during Fed rate-hike periods

On the geopolitical front, Russia’s foreign minister Sergei Lavrov said Friday that Moscow doesn’t intend to start a war , but also “would not let our interests be rudely trampled on and ignored.”

A day earlier saw U.S. President Joe Biden warning Ukraine’s president of a “distinct possibility” of Russian military action against its neighbor in February.

Opinion: Stock investors know not to fight the Fed, but you can fight the Fed Model

What companies were in focus?

  • Visa Inc. /zigman2/quotes/203660239/composite V +4.51% topped $7 billion in quarterly revenue for the first time and shares climbed 10.6%.

  • Western Digital Corp. shares /zigman2/quotes/204213617/composite WDC +2.50% slid 7.3% after the data-storage products company gave a weak outlook, amid a struggle to keep up with demand amid supply-chain problems.

  • Caterpillar Inc. /zigman2/quotes/203434128/composite CAT +3.82% shares fell more than 5% after maker of industrial equipment and tractors reported earnings and revenue that beat forecasts.

  • Chevron Corp. /zigman2/quotes/205871374/composite CVX +1.64% stock fell 3.5% after the energy giant reported a disappointing profit, even as revenue beat.

  • KLA Corp. /zigman2/quotes/209248041/composite KLAC +5.88% shares turned higher to end up 1.3% Friday, even after a weak outlook from the chip-equipment maker that overshadowed an earnings beat for the quarter.

How did other assets trade?

  • The yield on the 10-year Treasury note  /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y 0.00% rose 2.8 basis points to 1.779%. Yields and debt prices move opposite each other.

  • The ICE U.S. Dollar Index  /zigman2/quotes/210598269/delayed DXY -0.30% , a measure of the currency against a basket of six major rivals, was slightly lower.

  • Oil futures  /zigman2/quotes/211629951/delayed CL.1 -0.50% rose 21 cents, or 0.2%, to settle at $86.82 a barrel on the New York Mercantile Exchange. Gold futures  /zigman2/quotes/210034565/delayed GC00 -0.12% fell 0.5%, or $8.40, to settle at $1,786.60 an ounce, below the $1,800 an ounce threshold.

  • In European equities, the Stoxx Europe 600  /zigman2/quotes/210599654/delayed XX:SXXP +2.62%  closed 1% lower, while London’s FTSE 100  /zigman2/quotes/210598409/delayed UK:UKX +2.68% dropped 1.2%.

  • The Shanghai Composite  /zigman2/quotes/210598127/delayed CN:SHCOMP +0.89%  fell 0.9%, while the Hang Seng Index  /zigman2/quotes/210598030/delayed HK:HSI +2.09% was down 1% and Japan’s Nikkei 225  /zigman2/quotes/210597971/delayed JP:NIK +1.23%  rose 2%.

/zigman2/quotes/228268942/composite
US : U.S.: Nasdaq
$ 8.00
+0.02 +0.25%
Volume: 60.50M
June 24, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.97 billion
Rev. per Employee
$425,102
loading...
/zigman2/quotes/203660239/composite
US : U.S.: NYSE
$ 205.51
+8.87 +4.51%
Volume: 7.75M
June 24, 2022 4:00p
P/E Ratio
33.04
Dividend Yield
0.73%
Market Cap
$428.11 billion
Rev. per Employee
$1.25M
loading...
/zigman2/quotes/204213617/composite
US : U.S.: Nasdaq
$ 47.07
+1.15 +2.50%
Volume: 2.86M
June 24, 2022 4:00p
P/E Ratio
8.15
Dividend Yield
0.00%
Market Cap
$14.74 billion
Rev. per Employee
$292,454
loading...
/zigman2/quotes/203434128/composite
US : U.S.: NYSE
$ 185.49
+6.82 +3.82%
Volume: 4.87M
June 24, 2022 4:00p
P/E Ratio
15.55
Dividend Yield
2.59%
Market Cap
$98.94 billion
Rev. per Employee
$489,071
loading...
/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 144.77
+2.34 +1.64%
Volume: 11.11M
June 24, 2022 4:03p
P/E Ratio
13.61
Dividend Yield
3.92%
Market Cap
$284.45 billion
Rev. per Employee
$4.18M
loading...
/zigman2/quotes/209248041/composite
US : U.S.: Nasdaq
$ 339.50
+18.84 +5.88%
Volume: 1.92M
June 24, 2022 4:00p
P/E Ratio
16.47
Dividend Yield
1.24%
Market Cap
$50.67 billion
Rev. per Employee
$764,943
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
3.14
0.00 0.00%
Volume: 0.00
June 24, 2022 4:58p
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
104.12
-0.31 -0.30%
Volume: 0.00
June 24, 2022 4:59p
loading...
/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 107.08
-0.54 -0.50%
Volume: 305,960
June 24, 2022 4:59p
loading...
/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,828.10
-2.20 -0.12%
Volume: 134,283
June 24, 2022 4:59p
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
412.93
+10.53 +2.62%
Volume: 0.00
June 24, 2022 11:03p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,208.81
+188.36 +2.68%
Volume: 0.00
June 24, 2022 4:51p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,349.75
+29.60 +0.89%
Volume: 39.08B
June 24, 2022 3:00p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
21,719.06
+445.19 +2.09%
Volume: 2.41M
June 24, 2022 4:08p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,491.97
+320.72 +1.23%
Volume: 0.00
June 24, 2022 3:15p
loading...

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.