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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 -3.43% to spread the wealth to other sectors of the market, including materials /zigman2/quotes/210599855/delayed XX:SP500.15 -0.73% , financials /zigman2/quotes/210599854/delayed XX:SP500.40 -0.64% and consumer discretionary /zigman2/quotes/210600228/delayed XX:SP500.25 +0.0064% .

  • The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.27% 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 -0.07% closed up 0.8% to about 4,522, roughly.

  • The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.03% closed up 1.3% to reach around 14,195.

  • The 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.27% 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 +0.13% 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 -4.16% 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 +0.55% 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
557.60
-19.82 -3.43%
Volume: 204.66M
June 29, 2022 5:16p
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/zigman2/quotes/210599855/delayed
add Add to watchlist XX:SP500.15
XX : S&P US
468.91
-3.46 -0.73%
Volume: 70.88M
June 29, 2022 5:16p
loading...
/zigman2/quotes/210599854/delayed
add Add to watchlist XX:SP500.40
XX : S&P US
528.01
-3.40 -0.64%
Volume: 215.47M
June 29, 2022 5:16p
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/zigman2/quotes/210600228/delayed
add Add to watchlist XX:SP500.25
XX : S&P US
1,094.65
+0.07 +0.0064%
Volume: 416.61M
June 29, 2022 5:16p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,029.31
+82.32 +0.27%
Volume: 273.97M
June 29, 2022 5:16p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,818.83
-2.72 -0.07%
Volume: 2.11B
June 29, 2022 5:16p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,177.89
-3.65 -0.03%
Volume: 4.97M
June 29, 2022 5:16p
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
3.10
+0.0084 +0.27%
Volume: 0.00
June 30, 2022 12:50a
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/zigman2/quotes/211347045/realtime
add Add to watchlist BX:TMUBMUSD02Y
BX : Tullett Prebon
3.06
+0.0041 +0.13%
Volume: 0.00
June 30, 2022 12:48a
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/zigman2/quotes/208035743/composite
US : U.S.: Nasdaq
$ 9.45
-0.41 -4.16%
Volume: 11.35M
June 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.33 billion
Rev. per Employee
$464,304
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 50.94
+0.28 +0.55%
Volume: 13.93M
June 29, 2022 4:03p
P/E Ratio
11.69
Dividend Yield
3.14%
Market Cap
$284.25 billion
Rev. per Employee
$1.03M
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