Feb. 3, 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 (Wednesday, February 3, 2021).
No big moves in main indexes today, with the S&P 500 closing up 0.10%, the Dow Jones up 0.12% and the Nasdaq down 0.016%.
Why did the stock market move today?
The better-than-expected quarterly earnings seen so far continue to provide optimism on the condition of the economy. Furthermore, hopes for the approval of a new stimulus package are getting high as discussions are taking place more intensively in Washington between both parties.
Stock of the day
After releasing earnings of $22.30 per share vs. the $15.90 per share expected and revenue of $56.90 billion vs. the $53.13 billion expected, shares in Alphabet (NASDAQ: GOOGL) jumped up 7.28% today. Investors in the parent company of Google saw their stocks reach an all-time high at $2,058.
The increase of ad-revenue represents a positive signal for the economy as a whole, as businesses are in the condition of spending more in marketing expenses.
That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!