S&P 500 rises after strong tech earnings, gains kept in check following jobs report: Live updates
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The S&P 500 rose 0.2% after strong tech earnings, but gains were limited due to a spike in Treasury yields following a better-than-expected jobs report. The Dow Jones Industrial Average lost 146 points, or 0.3%, while the Nasdaq Composite rose 0.7%. The benchmark 10-year Treasury yield jumped 15 basis points to 4% after the US economy added 353,000 jobs in January, surpassing estimates of 185,000. Wages also expanded by 4.5% year over year, exceeding the forecast of 4.1%. The strong jobs report suggests a robust labor market and may support growth for stocks. Facebook's stock rose 17% after beating expectations and announcing its first-ever dividend payout and a $50 billion share buyback program. Chevron and Exxon reported earnings that beat expectations, but their profits declined from the previous year due to impairment charges and lower oil prices. Chevron's stock rose 1% in premarket trading, while Exxon was down 1.15%. European stocks opened higher, led by autos, while Australia's producer price index rose 4.1% year on year in Q4 2023. Aozora Bank shares tumbled to a three-year low due to exposure to US office loans, and South Korea's January inflation slowed for the third straight month to 2.8%. The major US averages are up for the year, with the S&P 500 up 2.86%, the Nasdaq Composite up 2.33%, and the Dow Jones Industrial Average up 2.2%.

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https://www.cnbc.com/2024/02/01/stock-market-today-live-updates.html