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Feb. 9, 2021, 4:30 p.m. EST

S&P 500, Dow miss out on new records and snap 6-day win streak

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By William Watts and Sunny Oh

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But some analysts cautioned that a renewed rise in long-term Treasury yields bears monitoring, though yields were mostly flat on Tuesday.

“Sure, equity investors like the idea of more fiscal stimulus as long as bond yields and the Fed do their part not to upset the balance. However, the rate at which the bond markets has been pushing yields higher in the past week should be seen as a warning that the bond vigilantes may have been in hibernation for a long time, but their day in the sun may be coming quicker than expected,” said Steven Ricchiuto, U.S. chief economist at Mizuho Securities U.S.A., in a note.

“For now, we expect markets to be well-mannered but there are clearly risks on the horizon that were not there a couple of weeks ago,” he said.

Upbeat expectations around the economic outlook weren’t universal.

The optimism index compiled by the U.S. National Federation of Independent Business fell 0.9 in January to 95.0 , hitting the lowest level since the onset of the pandemic last spring

U.S. job openings rose to 6.65 million in December from 6.57 million a month earlier. Hiring, meanwhile, s hrank by almost 400,000 in December to 5.5 million , according to the U.S. government’s job openings and labor turnover survey, otherwise known as the “Jolts” report. 

Which companies are in focus?

  • Drugmaker Eli Lilly & Co. /zigman2/quotes/200106384/composite LLY -0.0051% said chief financial officer Josh Smiley will resign after engaging in inappropriate personal communications with some employees. Lilly said that Anat Ashkenazi, a 20-year veteran of the company, would replace Smiley. Shares fell 2%.

  • Shares of Electronics Arts Inc. /zigman2/quotes/206954087/composite EA +0.50% rose 2.6% after the videogame maker announced it would acquire Glu Mobile for $12.50 per share.

  • Shares of videogame publisher Take-Two Interactive Software Inc. /zigman2/quotes/204008930/composite TTWO -0.61% slid 6.1% after reporting a better-than-expected outlook and results late Monday as sales saw a holiday boost during the COVID-19 pandemic.

  • Shares of DuPont de Nemours Inc. /zigman2/quotes/203606582/composite DD +1.41% fell 3% despite the materials and chemicals company reporting fourth-quarter profit and sales that beat Wall Street expectations .

  • Shares of Goodyear Tire & Rubber Co. /zigman2/quotes/210067261/composite GT -0.78% were up 6% after reporting profit and revenue that beat expectations.

  • Coty Inc. /zigman2/quotes/208645074/composite COTY +2.33% shares dropped 15.1% after the beauty products company reported fiscal second-quarter adjusted profit that declined less than expected , while sales fell a bit shy of forecasts.

What did other markets do?

  • The yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.35% fell 0.3 basis points to 1.156%. Yields and bond prices move in opposite directions.

  • The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY +0.26% , a measure of the currency against a basket of six major rivals, fell 0.5%.

  • Oil futures saw choppy trade , with the U.S. benchmark /zigman2/quotes/211629951/delayed CL.1 +0.09% climbing 39 cents, or 0.7%, to settle at $58.36 per barrel. Gold futures /zigman2/quotes/210034565/delayed GC00 -0.32% scored a three-day winning streak , gaining $3.30, or 0.2%, to settle at $1,837.50 an ounce.

  • The pan-European Stoxx 600 Europe index /zigman2/quotes/210599654/delayed XX:SXXP -1.97% fell 0.1%, while London’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -2.47% rose 0.1%.

  • In Asia, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.01% rose 2%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.37% rose 0.5%, and Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -2.32% rose 0.4%.

/zigman2/quotes/200106384/composite
US : U.S.: NYSE
$ 194.75
-0.01 -0.0051%
Volume: 1.85M
May 11, 2021 4:02p
P/E Ratio
29.15
Dividend Yield
1.75%
Market Cap
$186.78 billion
Rev. per Employee
$701,137
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/zigman2/quotes/206954087/composite
US : U.S.: Nasdaq
$ 141.36
+0.71 +0.50%
Volume: 4.11M
May 11, 2021 4:00p
P/E Ratio
35.03
Dividend Yield
0.48%
Market Cap
$40.45 billion
Rev. per Employee
$557,755
loading...
/zigman2/quotes/204008930/composite
US : U.S.: Nasdaq
$ 167.99
-1.03 -0.61%
Volume: 1.18M
May 11, 2021 4:00p
P/E Ratio
39.32
Dividend Yield
N/A
Market Cap
$19.47 billion
Rev. per Employee
$532,581
loading...
/zigman2/quotes/203606582/composite
US : U.S.: NYSE
$ 82.83
+1.15 +1.41%
Volume: 4.78M
May 11, 2021 4:02p
P/E Ratio
14.49
Dividend Yield
1.45%
Market Cap
$43.47 billion
Rev. per Employee
$599,912
loading...
/zigman2/quotes/210067261/composite
US : U.S.: Nasdaq
$ 18.99
-0.15 -0.78%
Volume: 4.77M
May 11, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.47 billion
Rev. per Employee
$198,726
loading...
/zigman2/quotes/208645074/composite
US : U.S.: NYSE
$ 9.21
+0.21 +2.33%
Volume: 10.03M
May 11, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$6.90 billion
Rev. per Employee
$258,335
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.62
+0.0057 +0.35%
Volume: 0.00
May 12, 2021 1:05a
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
90.38
+0.24 +0.26%
Volume: 0.00
May 12, 2021 12:59a
loading...
/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 65.34
+0.06 +0.09%
Volume: 32,034
May 12, 2021 12:59a
loading...
/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,830.20
-5.90 -0.32%
Volume: 27,767
May 12, 2021 12:59a
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
436.61
-8.78 -1.97%
Volume: 0.00
May 11, 2021 11:03p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,947.99
-175.69 -2.47%
Volume: 888,063
May 11, 2021 4:53p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,441.42
-0.43 -0.01%
Volume: 19.61B
May 12, 2021 12:54p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,910.60
-103.21 -0.37%
Volume: 982,258
May 12, 2021 12:05p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
27,945.90
-662.69 -2.32%
Volume: 0.00
May 12, 2021 1:49p
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