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Stock market today February 16, 2021

Stock market today

A mixed close for the US stock market today. Has the US stock market lost its momentum? The closing numbers for the US stock market today follow.

S&P 500: 3,932.59,-2.24(-0.06%)
Dow 30: 31,522.75,+64.35(+0.20%)
Nasdaq: 14,047.50,-47.97(-0.34%)
Russell 2000: 2,273.98,-15.38(-0.67%)

Stock market data: Yahoo Finance

Stock market news

“Stocks ended mixed on Tuesday, with the S&P 500 and Nasdaq pulling back slightly from all-time highs and the Dow setting a fresh record close.

Each of the three major indexes hit record intraday highs early on Tuesday before paring gains. U.S. stocks tracked gains in European equities, after UK Prime Minister Boris Johnson said he was “hopeful” the country’s stringent lockdown restrictions could be eased in the coming weeks as the vaccine rollout continues and new daily infections fall further.

Other risk assets also performed strongly. Bitcoin prices (BTC-USD) spiked to a fresh record high of more than $50,000, extending a meteoric rally after the cryptocurrency traded around $35,000 just a month ago. U.S. crude oil (CL=F) jumped above $60 per barrel and reached the highest level since January 2020. And the CBOE Volatility Index (VIX) declined further on Tuesday, after settling below 20 for the first time since February 2020 on Friday.

Over the past couple weeks, U.S. investors have considered prospects for additional fiscal stimulus alongside much better-than-expected fourth-quarter corporate earnings results across the board. Corporate earnings are on track to grow by about 2.9%, which would mark the first year-over-year increase in profits since the final quarter of 2019, according to FactSet. And on the fiscal stimulus front, lawmakers are racing to get another stimulus package done before a mid-March lapse in federal unemployment benefits occurs after the last round of virus relief.

“Earnings season has provided proof of an earlier than expected rebound in corporate performance, and with fresh stimulus money likely to wing its way to the American population there is reason to expect further quarterly growth,” Chris Beauchamp, chief market analyst at IG Group, said in an email. “Despite all the naysayers, global stock markets, led by the U.S., continue to make headway, and seem well-set to continue doing so.”

Stock market data: Yahoo Finance

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