FYI: Big gains by energy behemoths Exxon Mobil and Chevron lifted the Dow Jones Industrial Average Friday, putting the index on pace for its sixth consecutive week of gains.
January’s nonfarm payrolls report also buoyed stocks after showing employers added more jobs than anticipated and unemployment held near historic lows.
The strong report, along with a tick up in wages, supports the newfound optimism in the U.S. economy that has washed over the stock market in the new year. Fears of an economic slowdown late last year have been eased by better-than-feared corporate earnings, a more accommodative Federal Reserve and signals of strength from the labor market.
The blue-chip index added 64 points, or 0.26%, a day after closing out its strongest January in 30 years. Shares of Exxon and Chevron both climbed 3.1% after posting some of their biggest annual profits in years.
Earlier gains in the S&P 500 and Nasdaq Composite disappeared in afternoon trading however, the S&P 500 rose 0.9%, while the Nasdaq Composite declined 0..25%, both hurt by big declines in shares of Amazon.com. The retailer’s shares fell 5.3% after the company cautioned that its spending is likely to increase this year and government restrictions in India could weaken its revenue there.
Only four of the eleven S&P 500 Sectors finished in positive territory led by Energy.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-edge-up-after-a-january-surge-in-the-u-s-11549010981Bloomberg Evening Briefing:
https://www.investors.com/market-trend/stock-market-today/amazon-com-stock-drags-nasdaq/Bloomberg:
https://www.bloomberg.com/news/articles/2019-01-31/asia-stocks-set-for-muted-start-as-rally-eases-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/stock-futures-steady-ahead-of-january-jobs-report-2019-02-01/printIBD:
https://www.investors.com/market-trend/stock-market-today/amazon-com-stock-drags-nasdaq/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-edges-higher-after-strong-jobs-data-amazon-drags-idUSKCN1PQ4Q0CNBC:
https://www.cnbc.com/2019/02/01/stock-market-payrolls-data-earnings-in-focus-.htmlU.K.:
https://www.marketwatch.com/story/positive-start-to-the-year-feeds-through-to-gains-for-london-stocks-talktalk-tumbles-2019-02-01/printEurope:
https://www.marketwatch.com/story/europe-stocks-flat-hampered-by-losses-in-italy-and-spain-2019-02-01/printAsia:
https://www.marketwatch.com/story/asian-markets-muted-after-disappointing-chinese-manufacturing-data-2019-01-31/printBonds:
https://www.cnbc.com/2019/02/01/bonds-nonfarm-payrolls-.htmlCurrencies:
https://www.cnbc.com/2019/02/01/asia-markets-the-fed-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2019/02/01/oil-markets-us-china-trade-china-economic-data-in-focus.htmlGold
https://www.cnbc.com/2019/01/31/gold-markets-the-fed-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
