The Dow Jones Industrial Average rebounded from its intraday lows on Monday after erasing earlier losses. The Nasdaq also fluctuated and was higher in afternoon trading.
Stock Market Today
At around 3 p.m. ET, the Dow Jones industrials were up 0.6% while both the Nasdaq composite and the S&P 5oo fluctuated between small gains and small losses earlier in today's session. About an hour before the close, the S&P 500 was up 0.3% while the Nasdaq traded up 0.3% as well.
The Russell 2000 rose 1.3% as small caps fared decently well on Monday after underperforming the market recently. Volume was running higher on the Nasdaq and lower on the NYSE vs. the same time Friday. The Innovator IBD 50 ETF traded up 1.1% as growth stocks outperformed as well.
The energy sector led the upside on Monday, up around 2%. The financial and industrial sectors also outperformed, with gains of around 0.8% each. Communication services and utilities were among the sectors leading the downside.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35287.64 | +197.90 | +0.56 |
| S&P 500 | (0S&P5) | 4515.99 | +15.46 | +0.34 |
| Nasdaq | (0NDQC ) | 14144.06 | +46.05 | +0.33 |
| Russell 2000 | 200.94 | +2.56 | +1.29 | |
| IBD 50 | 38.16 | +0.43 | +1.14 | |
Last Update: 3:14 PM ET 2/7/2022 |
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The 10-year Treasury yield ticked slightly lower Monday morning to 1.92%, after closing at 1.93% Friday, the highest level since 2019. Meanwhile, U.S. oil prices traded down 1%, as West Texas Intermediate crude traded below $92 a barrel. The commodity briefly topped $93 a barrel last week.
After a decent rally last week, stocks traded mixed on Friday and continued to pause in Monday's action. Last week saw the indexes posting their best weekly gains so far this year. Friday's The Big Picture commented, "Amazon.com fueled a big rally for the Nasdaq composite Friday, although the stock market wasn't sure how to react initially to the January employment report, which came in much better than expected and prompted more selling in the bond market."
Stocks To Watch With Earnings This Week
Investors are gearing up for another batch of earnings this week from major companies. Disney, CVS and ride-share app Uber are set to report on Wednesday. Meanwhile, Pfizer and Chipotle Mexican Grill will be reporting Tuesday after the close. Coca-Cola, Twitter and Expedia are reporting Thursday.
Dow Jones health care stock Amgen is reporting after the close on Monday. According to FactSet, analysts expect earnings of $3.01 a share, or $4.04 adjusted per share. Revenue is estimated to increase to about $6.87 billion. The biotech stock is finding support at its 50-day line but remains below its 200-day long-term moving average.
Elsewhere, medical stock Bristol Myers Squibb scored a breakout from a 65.95 cup-with-handle entry. Shares remained inside the buy range in afternoon trading. The pharmaceutical company traded up 2.2% after offering better-than-expected sales guidance on Friday. The firm also announced EPS increased 25% year over year, which topped forecasts. Sales advanced 8% to $11.99 billion, but missed expectations for $12.04 billion, according to FactSet.
Peloton Interactive jumped as much as 26% Monday before fading gains to just over 23%. The price jump came after The Wall Street Journal reported that Amazon is among a number of potential companies interested in acquiring the stationary bike maker. Shares closed more than 80% off their 52-week high on Friday after peaking in January of 2021.
Follow Rachel Fox on Twitter at @IBD_RFox for more Dow Jones and stock market commentary.
