key takeaways
- The Dow, S&P 500 and Nasdaq were all up more than 1% on Monday, February 13.
- The week started on a positive note amid optimism about the upcoming inflation data.
- Tech stocks helped power the advance, with Microsoft (MSFT) up 3%.
Tuesday’s consumer price index (CPI) suggests that headline inflation will continue to retreat last month. The Dow, S&P 500 and Nasdaq were all up more than 1%.
Tech stocks turned bullish. Microsoft (MSFT) led the Dow as its shares rose 3% each, while Intel (INTC) and Salesforce (CRM) gained 2% each. Shares of Apple (AAPL), Cisco Systems (CSCO) and IBM (IBM) rose 1% each. Shares of Amazon (AMZN) rose, and shares of Meta Platforms (META) climbed on a report the parent of Facebook, Instagram and WhatsApp is planning more layoffs.
Travel-related stocks gained momentum. Shares of cruise lines Norwegian Cruise Line Holdings (NCLH), Carnival Corporation (CCL) and Royal Caribbean Group (RCL) climbed. Hotel stocks rose. Shares of booking sites Booking Holdings (BKNG) and Expedia Group (XPE) were up. Henry Schein (HSIC), a distributor of medical products and services, announced a $400 million stock buyback, and shares soared.
Payment Services Stock Sync
Fidelity National Information Services (FIS) was the worst-performing stock in the S&P 500 after the payments services firm announced plans to spin off its merchant business and forecast full-year earnings that fell short of analysts’ forecasts. Was. Shares of rivals Global Payments (GPN) and PayPal Holdings (PYPL) also declined. Shares of CF Industries Holdings (CF) declined as analysts beat them. Chevron (CVX) and The Walt Disney Company (DIS) were the only stocks to decline in the Dow.
Oil futures sank 0.5% on reports of crude sales exceeding the Strategic Petroleum Reserve by the Biden administration. Gold prices have also declined by 0.5 per cent. The yield on the 10-year Treasury note fell. The US dollar rose against the euro and yen but fell against the pound. Major cryptocurrencies trade in negative territory.
Investopedia
Source: www.investopedia.com
