Feb. 4, 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, February 4, 2021).
Both the S&P 500 and the Nasdaq reached an all-time high today, with the S&P 500 closing up 1.09% and the Nasdaq closing up 1.23%.
Why did the stock market move today?
For the week ended January 30, 779,000 Americans applied for unemployment benefits, representing a decline from the prior week’s number of 812,000.
Earnings releases continue to show encouraging data on the condition of the economy and the pace of vaccines’ distribution is keeping optimism high.
Stock of the day
With net-profits tripled in comparison to one year ago and with both earnings and revenue beating expectations, shares in PayPal (NASDAQ: PYPL) jumped 7.36% today closing at an all-time high.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!