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Stock market today November 8, 2021

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Stock market today

A higher stock market close today with moderate gains. The closing numbers for the US stock market today are:

S&P 500: 4,701.70,+4.17(+0.09%)
Dow 30: 36,432.22,+104.27(+0.29%)
Nasdaq: 15,982.36,+10.77(+0.07%)
Russell 2000: 2,442.74,+5.66(+0.23%)

Stock market news

“Stocks on Monday extended a record-setting streak of gains on Wall Street, opening at new highs as traders looked ahead to a slew of new inflation data and earnings results in the coming days.

At the opening bell, the Dow, S&P 500 Index and Nasdaq all notched fresh highs, carried by last week’s momentum when all three major indexes jumped to their best levels ever. Optimism over a batch of strong corporate profit reports, a better-than-anticipated October jobs report and a Federal Reserve decision that matched investors’ expectations are providing impetus to risk-sensitive assets.

Meanwhile, Bitcoin prices led a broad crypto rally, with the leading digital coin jumping within view of a record high. However, Tesla (TSLA) dropped by more than 6% on the day, after CEO Elon Musk confounded investors by vowing to sell 10% of his holdings based on the outcome of a Twitter poll, which kept a lid on tech stocks.

This week, companies including Disney (DIS), PayPal (PYPL) and Coinbase (COIN) are set to deliver quarterly earnings results, with traders hoping that these and other companies’ results will extend a streak of solid earnings growth heading into the holiday season. So far, 89% of S&P 500 companies have reported third-quarter results, and 81% of these exceeded Wall Street’s estimates for earnings per share, according to FactSet data. The expected year-on-year earnings growth rate has crept higher to 39.1%, which would mark the third-fastest pace for earnings growth in the index since 2010.

On the economic data front, inflation reports will be especially closely monitored. Wednesday’s Consumer Price Index (CPI) from the Bureau of Labor Statistics is expected to show another acceleration in consumer prices on both a monthly and annual basis for last month, as ongoing supply chain challenges and labor shortages across the recovering economy contribute to rising prices. Estimates as of Monday showed that consensus economists expect to see the CPI rise by 5.9% in October compared to last year, accelerating from September’s 5.4% annual rate to reach the fastest rise since 1990.”

Stock market data: Yahoo Finance

Stock market today November 5, 2021

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Stock market today

Strong jobs data sent the US stock market higher today. Small-cap stocks outperformed and Nasdaq underperformed. The closing numbers for the US stock market today are:

S&P 500: 4,697.53,+17.47(+0.37%)
Dow 30: 36,327.95,+203.72(+0.56%)
Nasdaq: 15,971.59,+31.28(+0.20%)
Russell 2000: 2,437.08,+34.65(+1.44%)

Stock market news

“Stocks soared on Friday, with major benchmarks rallying to fresh records as investors reacted favorably to October jobs report, which showed a better-than-expected pick-up in payroll growth and another improvement in the unemployment rate.

The blue-chip index set new intraday record in the wake of the data, extending Thursday’s gains and reaching a seventh consecutive record closing high. The S&P 500 also rose about 2% for the week to mark a fifth consecutive weekly gain — its longest winning streak since August 2020. The Nasdaq also jumped to a record the broad move higher in tech shares, and the Dow reached a record close as well.

Wall Street’s focus on Friday was on the Labor Department’s October jobs report, which showed that non-farm payrolls rose by 531,000 last month, compared to the 450,000 expected. Payrolls were also upwardly revised for both August and September.

The unemployment rate dipped to 4.6%, or the lowest since March 2020. And average hourly earnings rose at a 4.9% year-on-year pace, with wages pushed higher as companies competed for workers amid widespread labor scarcities.

The October report suggested negative impacts from the Delta variant wave in late summer were beginning to dissipate, especially given the jump in hiring in leisure and hospitality industries and other high-contact areas of the economy.

And importantly for investors, the labor market data helped vindicate the Federal Reserve’s latest decision to pare back on some of its monetary policy support as the economy makes more progress in its recovery.

The central bank opted earlier this week to announce the start of its asset-purchase tapering program, but declined to offer specifics for the dollar amount of further tapering next year or the timing of interest rate hikes. The Fed noted that those would depend on how the economic recovery unfolded. Still, in his post-FOMC meeting press conference on Wednesday, Powell also noted that there was “still ground to cover to reach maximum employment both in terms of employment and in terms of participation.”

Stock market data: Yahoo Finance

Stock market today November 4, 2021

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Stock market today

Another higher close for the US stock market today. Nasdaq outperformed and small-cap stocks underperformed. The closing numbers for the US stock market today are:

S&P 500: 4,680.06,+19.49(+0.42%)
Dow 30: 36,124.23,-33.35(-0.09%)
Nasdaq: 15,940.31,+128.72(+0.81%)
Russell 2000: 2,402.43,-1.85(-0.08%)

Stock market news

“Stocks traded mixed on Thursday, with tech stocks and the broader market setting new highs as investors digested the Federal Reserve’s decision to begin paring back some of its monetary policy support as the economic recovery progressed.

Although the Dow dropped, tech stocks were boosted by Tesla, which set a new record high above $1200 per share, and helped the Nasdaq set a fresh record. The S&P 500 also eked out a new high.

A day earlier, all of the major benchmarks set records, with the Fed’s latest monetary policy decision compounding with optimism over a slew of stronger-than-expected quarterly corporate earnings results.

The Fed’s decision on Wednesday unfolded the way many investors had been expecting, wherein the central bank formally announced it would begin tapering its pandemic-era asset purchase program starting this month. That came as Federal Open Market Committee members deemed that the economy had made “substantial further progress” in recovering to warrant the gradual removal of this policy support.

But importantly, the newly announced contours of the Fed’s tapering plan appeared to appease equity traders.

“The Fed has baked in some flexibility in their tapering,” Ryan Nauman, Zephyr market strategist, told Yahoo Finance Live on Wednesday. “They were very clear that in November and December how much they were going to taper. After that, they did not put in a dollar amount on it.”

Specifically, the Fed said it would begin reducing its asset purchases this month by a total of $15 billion, and then by another $15 billion in December, but said the outlook for the pace of tapering in the future would depend on “changes in the economic outlook.” Fed Chair Jerome Powell also reiterated his prior stance that the ultimate end of the tapering process next year would not automatically signal the start to interest rate hikes.”

Stock market data: Yahoo Finance

Stock market today November 2, 2021

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Stock market today

Another higher close today for the US stock market. Dow Jones closed above the 36,000 level and outperformed. In anticipation of the Fed monetary decision tomorrow the closing numbers for the US stock market today are the following:

S&P 500: 4,630.65,+16.98(+0.37%)
Dow 30: 36,052.63,+138.79(+0.39%)
Nasdaq: 15,649.60,+53.69(+0.34%)
Russell 2000: 2,361.86,+3.74(+0.16%)

Stock market news

” Stocks reached fresh all-time highs on Tuesday in another record-setting session, with investors cheering another set of better-than-expected corporate earnings results. 

The Dow and S&P 500 gained while the Nasdaq rose more modestly, weighed by a drop in Tesla (TSLA) after CEO Elon Musk downplayed the expected impact of a deal with car rental giant Hertz. Investors watched with optimism as more corporate earnings results exceeded expectations and defied concerns over ongoing supply chain constraints, shortages and cost pressures. 

Clorox (CLX) became one of the latest major names to top estimates in results posted Monday after the closing bell, with the cleaning supplies and home goods company topping third-quarter sales and profits estimates and reaffirming its full-year guidance even as the company said it expects “cost pressures to persist.” Shares of Avis (CAR) and Simon Property Group (SPG) also jumped, with both of these companies posting quarterly earnings that exceeded expectations after market close. 

Heading into this week, the expected earnings growth rate for the S&P 500 was at 36.6% for the third quarter, which while a step down from the second quarter’s rate, would still mark the third-highest pace in data spanning back to 2010, according to FactSet. 

“I don’t think what’s going on is terribly surprising,” when it comes to the sizable year-over-year earnings growth many companies have reported for the third quarter, Pacer ETF’s President Sean O’Hara told Yahoo Finance Live. “I think what we need to see going forward is, is it sustainable, or are some of these outside factors going to be a bigger challenge than we expect?”

“Is inflation and the input costs that the producers are dealing with, is that going to derail things? Is the lack of workers?” he added. “There’re a lot of things out there that could potentially derail the market, especially as you’re making this transition from where we are, which is easy comparables versus last year, to more difficult ones going forward.” 

Stock market data: Yahoo Finance

Stock market today November 1, 2021

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Stock market today

The US stock market today closed higher, which was the first trading session of November 2021. The small-cap stocks outperformed, and S&P 500 underperformed. The closing numbers for the US stock market today follow:

S&P 500: 4,613.67,+8.29(+0.18%)
Dow 30: 35,913.84,+94.28(+0.26%)
Nasdaq: 15,595.92,+97.53(+0.63%)
Russell 2000: 2,358.12,+60.93(+2.65%)

Stock market news

“Stocks touched records on Monday, with equities looking to build on gains after the S&P 500’s best month since November 2020.

The S&P 500, Dow and Nasdaq each set record intraday and closing levels. Investors headed into November trading with momentum from a record-setting October, when the S&P 500 logged its best monthly gain in nearly a year, powered higher by a combination of estimates-topping corporate profit results. And according to data from LPL Financial, November has marked the best month of the year for stocks over the past 10 years and since 1950.

Fresh catalysts for the markets are due out later this week. Investors in the coming days will be eyeing a slew of new quarterly earnings results for companies from Clorox (CLX) to CVS Health Corp. (CVS), Lyft (LYFT) and Square (SQ), on the back of what has been an already historically strong earnings season.

As of Friday, just over half of all S&P 500 companies had reported actual third-quarter earnings results, and 82% of these topped consensus estimates on profit results, according to data from FactSet. The expected earnings growth rate for the index is more than 36%, which, if maintained, would mark the third-highest profit growth rate for the index since 2010.

Though some of the heavily weighted index components from last week had disappointed against consensus estimates — with both Amazon and Apple shares dropping after posting weaker-than-expected results and guidance — other stronger results helped offset these misses, with names including Alphabet and Microsoft rallying to record levels on the heels of their respective reports.

This week will also include key economic data reports including the October jobs report on Friday, which is expected to show a pick-up in job creation compared to the disappointing pace of hiring shown in each of August and September.

Meanwhile, the Federal Open Market Committee will convene for its next monetary policy-setting meeting. on Tuesday and Wednesday, then release its policy statement and hold a press conference with Federal Reserve Chair Jerome Powell. This meeting is expected to set the stage for an announcement of tapering of the Fed’s crisis-era asset purchase program, which is currently taking place at rate of $120 billion per month in purchases of agency mortgage-backed securities and Treasuries. Amid the improving data tracking the economic recovery, the Fed previously signaled that a tapering announcement would come before year-end, and that the tapering process would continue until the middle of next year.”

Stock market data: Yahoo Finance

Stock market today October 29, 2021

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Stock market today

The US stock market closed higher today, the last trading session of October 2021. The closing numbers for the US stock market today follow.

S&P 500: 4,605.38,+8.96(+0.19%)
Dow 30: 35,819.56,+89.08(+0.25%)
Nasdaq: 15,498.39,+50.27(+0.33%)
Russell 2000: 2,297.19,-0.79(-0.03%)

Stock market news

“Stocks ended at records on Friday as investors digested disappointing earnings results from Apple (AAPL) and Amazon (AMZN) that came during an otherwise solid quarterly reporting season from many major companies.

The S&P 500 set record intraday and closing highs. The index posted monthly gain of more than 6.5% in October, or its best single-month advance since November 2020. The consumer discretionary, energy and information technology sectors outperformed during the month.

The Nasdaq also eked out a fresh record level, even as a couple of heavily weighted technology giants saw shares dip.

Amazon shares dropped after the e-commerce juggernaut missed third-quarter expectations and forecasted a jump in expenses in the fourth quarter due to supply chain disruptions and rising costs for labor, materials and freight. These factors are expected to generate “several billion dollars of additional costs” to Amazon in the current quarter, the company said in its earnings statement.

Peer tech giant Apple also disappointed Wall Street in its fiscal first-quarter results, with key iPhone sales missing expectations even following the launch of its latest iPhone 13 handset series. Shares of Apple’s suppliers including Taiwan Semiconductor Manufacturing Co. (TSM), Qualcomm (QCOM) and Broadcom (AVGO) also fell immediately following the results.

For Wall Street, the results appeared to vindicate concerns that mounting supply chain disruptions, labor costs and materials shortages were impacting companies of all sizes heading into the holiday season, and were creating challenges for corporations to keep pace with rising demand. 

And for Apple, Amazon and some other technology companies, investors have been additionally fearful that these key members of last year’s lucrative “stay-at-home” trade would be unable to maintain lofty growth rates following a pandemic-induced surge in their businesses. Amazon’s sales grew 15% in the third quarter, slowing down markedly from 27% rate in the second quarter. “

Stock market data: Yahoo Finance

What are NFT Games and How Do They Work?

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Source

If you keep up with investment opportunities, you likely already know about NFT games and the immense promise they have.

Axie Infinity and CryptoBlades are two of the most well-known games right now. In addition to being fun to play, NFT games allow you to build your NFTs within the game.

Those NFTs, in turn, can be collected, traded, or sold—often for serious cash.

What are NFTs?

Before getting into the nitty-gritty of NFT games, it would be best to define what NFTs are first.

Non-fungible Tokens (NFT) are tokenized versions of real-world or digital assets.

To get one thing immediately out of the way: an NFT is not a stock. For more detailed information on stocks, we suggest an investing in stocks workshop to start.

NFTs can be anything: photos, videos, or any other digital file. You can trade, collect, and purchase them, similar to stocks.

However, unlike stocks, NFTs cannot be traded like shares. You either possess an NFT or you don’t. An NFT cannot be broken down into pieces. NFTs are unique and non-divisible digital assets that represent ownership over an underlying asset or item.

NFTs are “minted” on the blockchain, usually on Ethereum. Once you mint an NFT, no other NFT—past, present, or future—will ever be the same.

Two NFTs can look identical, for instance, but no NFT collector will confuse them for each other. NFTs are never the same after they’re minted.

This is because of an NFT’s metadata. Buying an NFT means more than just buying a token. On top of the token, an NFT’s owner also gets all the data in that NFT. That NFT’s specific metadata serves as your guarantee that you—and only you—own that specific that NFT.

There are also NFTs minted on other blockchains, but the main marketplaces for NFTs generally revolve around Ethereum.

The use of blockchain technology prevents anyone else from copying an NFT. While it is possible to snag a copy of an NFT for cheap (or free), it wouldn’t count for much, since the original NFT will always have its owner listed on the blockchain.

What are NFT Games?

At its core, NFT games are simple: they are video games where you can create your own NFTs. It’s entirely up to you what you do with your NFTs from there: you can sell them, trade them, collect them—anything you can do with an NFT.

If you want to get into the burgeoning NFT market but don’t have enough cash or know-how to buy an NFT you’re happy with, playing an NFT game should be a good way to get started. NFT games could even be a great opportunity for you to invest in NFTs.

How Do NFT Games Work?

There is no one set of rules for NFT games.

Some NFT games like Axie Infinity function like digital collectible card games, while others like CryptoKitties, which plays like a monster collecting game—but with cuddly cats instead of scary monsters.

Each game has its way for players to earn tokens and contribute to its economy. Most NFT games are “play-to-earn”. That means having to spend money to make money. Though it is possible to grind your way to success with these games once you are in, it is impossible to start without putting in a hefty investment.

Axie Infinity, for instance, requires you to make an upfront purchase of three “Axies” to form a Starter Team. Once you have your Starter Team, you can start earning Smooth Love Potions (SLPs) by completing daily challenges and facing off against both AI- and player-controlled teams.

SLP is itself tradeable on several exchanges.

But you could also use it to breed more Axies, which will put you in a better position to win more against the AI and other players. The more you win, the more SLPs you can earn.

SLP is an ERC-20 token, which basically means that its value is tied to Ether, the cryptocurrency of the Ethereum network.

The same principles apply to CryptoBlades, but instead of SLP, you earn SKILLS. You can also sell your SKILLS outright or use them to improve your in-game performance, helping you earn even more SKILLS down the line

Other NFT games operate more like a lab to create your own NFTs.

CryptoKitties, for example, allows you to develop cat NFTs. Some aspects of how your NFT cat will look and behave will be random, but you will be able to put your stamp on it to make it truly unique.

You can form your own clowder of NFT cats for pleasure or profit—it’s entirely up to you.

When you want to cash out, you will have to list your NFTs of tokens like SLPs and SKILLS on a market, auction house, or crypto exchange.

NFT games can be a great way to invest in NFTs, but it is important to know what you’re getting into before investing anything other than time and effort.

Losing money on NFT games is all too common nowadays, with so many beginners jumping into the fray. But as long as you can keep your head about yourself and do your research, NFT games could be a great place to start your journey into the NFT world.

Stock market today October 28, 2021

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Stock market today

The US stock market today closed higher, with tech stocks outperforming and Nasdaq making a record high. The closing numbers for the US stock market today follow:

S&P 500: 4,596.42,+44.74(+0.98%)
Dow 30: 35,730.48,+239.79(+0.68%)
Nasdaq: 15,448.12,+212.28(+1.39%)
Russell 2000: 2,297.98,+45.49(+2.02%)

Stock market news

“Stocks gained Thursday, with the S&P 500 and Dow resuming advances even after a new print on U.S. economic activity came in weaker-than-expected. The Nasdaq Composite jumped more than 1% to set a record intraday high.

Investors on Thursday digested some key new economic prints, including the first estimate of third-quarter U.S. gross domestic product (GDP) and weekly unemployment claims. The GDP report showed the economy decelerated to expand at the slowest rate in over one year for the July through September quarter, with the Delta variant and supply-side constraints capping economic activity. GDP rose at a 2.0% annualized rate, missing estimates for the 2.6% pace consensus economists anticipated.

But even given this weakness, and some of the other tepid economic data seen as of late, equity investors have remained resilient and pushed stocks to record levels.

“The market is right to look through some of the third-quarter weakness. A lot of what we’ve seen lately in terms of softness in the data is not really a destruction or disappearance of demand, it’s simply a matter of supply chains that are forcing demand into the future,” Simona Mocuta, State Street Global Advisors chief economist, told Yahoo Finance Live. “There is still a lot of strength ahead of us. There is a lot of money waiting on the sidelines in consumer savings and checking accounts that I think bodes well for 2022.”

A major factor fueling stocks higher has been the bevy of strong corporate earnings results reported to date.

Some of the biggest equity index components and largest companies in the U.S. posted much better-than-expected sales and revenue growth compared to last year, reflecting strong demand trends across various pockets of the economy despite shortages. Shares of mega-cap technology companies Alphabet (GOOGL) and Microsoft (MSFT) each set record highs on Wednesday after these companies posted their earnings results Tuesday. Investors are set to receive more earnings reports from companies including Apple (AAPL) and Amazon (AMZN) later on Thursday.”

Stock market data: Yahoo Finance

Stock market today October 27, 2021

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Stock market today

A lower close for the US stock market today. Nasdaq closed flat, small-cap stocks underperformed. The closing numbers for the US stock market today are the following.

S&P 500: 4,551.68,-23.11(-0.51%)
Dow 30: 35,490.69,-266.19(-0.74%)
Nasdaq: 15,235.84,+0.12(0.00%)
Russell 2000: 2,252.49,-43.58(-1.90%)

Stock market news

“The S&P 500 and Dow pulled back from record levels on Wednesday while the Nasdaq gained, as investors eyed a slew of stronger-than-expected earnings results from closely watched technology companies. The Nasdaq 100 set a record high.

West Texas intermediate crude oil prices retreated after a recent run-up but remained near their highest level since 2014. Treasury yields sank across the curve, and the benchmark 10-year yield fell below 1.6%.

Google’s parent-company Alphabet (GOOG, GOOGL) reached a record high, rising in its best day since February after posting third-quarter revenues and earnings that topped consensus estimates. These results were fueled by a further rise in online advertising spending, especially among retailers on Google Search. YouTube and Google Cloud revenue growth, however, slowed compared to the prior quarter. And Microsoft (MSFT) posted quarterly results that exceeded estimates on nearly every major metric, aided by another surge in the company’s closely watched cloud computing business segment. The Redmond, Washington-based company also saw its stock jump to a record high on Wednesday following its latest report.

Outside of the mega-cap technology companies, a number of other corporations also posted resilient earnings results. Twitter (TWTR) shares gained in late trading after posting third-quarter sales that were about in-line with expectations, while Wall Street had braced for the company to see similar negative impacts from Apple’s iOS privacy update as peer social media company Snap (SNAP) had reported for the same quarter.

And chipmaker Advanced Micro Devices (AMD) also delivered quarterly earnings that exceeded estimates and boosted its full-year forecast. The company noted that supply chain constraints were partially inhibiting its ability to meet demand to provide PC and video-game console chips, though CEO Lisa Su added during AMD’s earnings call that she believed the current supply-side challenges would improve next year.”

Stock market data: Yahoo Finance

Microsoft fiscal Q1 2022 earnings beat expectations

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Microsoft Q1 2022 earnings

“Microsoft (MSFT) reported its fiscal Q1 2022 earnings after the closing bell on Tuesday, easily beating analysts’ expectations on the top and bottom line.

Here are the most important numbers from the report compared with what analysts were expecting, as compiled by Bloomberg.

Revenue: $45.3 billion versus $43.93 billion expected

Earnings per share: $2.71 versus $2.07 expected

Intelligent Cloud: $16.98 versus $16.58 billion expected

Productivity & Business processes: $15.04 versus $14.70 billion expected

More personal computing: $13.31 versus $12.68 billion expected”

Stock market data : Yahoo Finance