Feb. 18, 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 18, 2021).
All main indexes closed negative today, with the S&P 500 down 0.44%, the Dow Jones down 0.38% and the Nasdaq down 0.72%.
Why did the stock market move today?
According to unemployment data from the U.S. Department of Labor, 861,000 Americans applied for first-time unemployment benefits last week. These numbers are higher than economist had expected and were also accompanied by a 55,000 upward revision of the claims registered in the week before.
Without any news coming from Washington in relation to the COVID-19 relief bill, stocks prices have been mostly guided by earnings releases and inflation expectations.
Stock of the day
After missing on earnings expectations for their fourth quarter, shares in Walmart (NYSE: WMT) fell down 6.48% today. In particular, Walmart reported an adjusted EPS of $1.39, lower then the expected $1.51, and more than $2 billion of losses for the quarter.
That’s all for this Thursday’s stock market update. Stay tuned to receive your daily update!