Jan. 28, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Thursday, January 28, 2021).
All main indexes closed positive today, gaining some ground from yesterday’s big sell-off. The S&P 500 closed up 0.98%, the Dow Jones up 0.99% and the Nasdaq up 0.50% today.
Why did the stock market move today?
As the euphoria around the hyping stocks GameStop and AMC has slowly faded, with several online brokers no longer allowing users to buy the tickers, many investors seized the opportunity to jump into stocks that had seen panic selling during the week. This generated a small bounce back in the indexes.
Stock of the day
Despite reporting a very successful earnings report, with both revenues ($111.44 billion vs. $103.28 billion estimated) and earnings per share ($1.68 vs. $1.41 estimated) beating expectations, shares in Apple (NASDAQ: AAPL) fell 3.5% today.
Considering the jump in the stock price seen two weeks ago, investors might have already priced-in the growing sales of the last quarter and might now be cashing in the gains.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!