Stock market today February 12, 2021
February 12, 2021
Stock market today
The closing numbers for the US stock market today. Tesch stocks outperformed, Dow 30 underperformed.
S&P 500: 3,934.83,+18.45(+0.47%)
Dow 30: 31,458.40,+27.70(+0.09%)
Russell 2000: 2,289.36,+4.04(+0.18%)
Stock market news today
“Stocks ended higher on Friday, with the S&P 500 and Nasdaq closing out the session at record levels.
The S&P 500 and Nasdaq each rose about 0.5%, while the Dow ended just a tick above the flatline. U.S. stocks shook off earlier declines after tracking a drop in overseas equities, after new data showed that UK gross domestic product (GDP) slumped by a record 9.9% in 2020 as a virus-induced recession swept the country.
Shares of Dow component Disney (DIS) reversed earlier gains to fall more than 1% and pull back from a record high, after the company posted a surprise quarterly profit and grew Disney+ streaming subscribers more than expected. Newly public company Bumble (BMBL), which began trading on the Nasdaq on Thursday, rose another 7% after jumping 63% in its public debut.
Over the past couple weeks, investors have absorbed a bevy of much stronger than expected earnings results, with corporate profits rebounding much faster than expected despite the ongoing pandemic. With more than 80% of companies now having reported fourth-quarter results, S&P 500 earnings per share (EPS) have topped estimates by 17% in aggregate, and bounced back above pre-COVID levels, according to an analysis by Credit Suisse analyst Jonathan Golub.
“Prompt and generous government action mitigated the [virus-related] damage, leading to outsized economic and earnings surprises,” Golub said. “The earnings recovery has been substantially more robust than we could have imagined when the pandemic first took hold.”
Stocks have continued to set fresh record highs against this backdrop, and as fiscal and monetary policy support remain robust. But as investors become accustomed to firming corporate performance, companies may need to top even greater expectations in order to be rewarded. This could in turn put some pressure on the broader market in the near-term, and warrant more astute assessments of individual stocks, according to some strategists.”
Stock market data: Yahoo Finance