Stock market today
S&P 500: 3,886.83,+15.09(+0.39%)
Dow 30: 31,148.24,+92.38(+0.30%)
Russell 2000: 2,233.33,+30.91(+1.40%)
Stock market news
“Stocks rose, reaching fresh record levels after a closely watched report on the labor market missed expectations, possibly making a case for additional fiscal stimulus.
Each of the three major equity indexes traded higher, and the S&P 500, Dow and Nasdaq posted their best weekly gains since November. The S&P 500 rose 4.6% for the week.
Both the S&P 500 and Nasdaq also ended at record closing highs, and the Dow neared its own recent all-time closing high. Friday’s January jobs report showed that the U.S. economy returned to adding back more jobs than it lost at the start of this year, but at a slower than expected rate.
The areas of outperformance in the markets this week fit “into three of the potential rotation trades that we’re closely monitoring for 2021,” Kevin Mahn, Hennion & Walsh chief investment officer, told Yahoo Finance on Thursday. “The first being smaller cap stocks starting to outperform larger cap stocks, given the excessive valuation that large cap stocks are currently trading at … emerging stocks outperforming U.S. stocks, and then that potential rotation from growth-oriented stocks value oriented stocks.”
Over the past five days, the energy sector has been the best performing sector in the S&P 500 as crude oil prices recovered, given prospects for stronger demand for travel and fuel later this year. The financials sector also outperformed as Treasury yields firmed. The Russell 2000 has also outperformed the S&P 500 this week and so far in 2021, with small cap stocks typically leading the way higher during economic recoveries. The small-cap index hit a record closing high on Friday, and posted its best weekly gain since June.
But while some large-cap and growth stocks may seem lofty based on some traditional measures, they may also grow into these valuations given the strong earnings results posted so far for the fourth quarter, some strategists said. The majority of S&P 500 companies that have reported fourth-quarter results thus far have beaten expectations, and many by a wide margin.”
Stock market data: Yahoo Finance
Stocks that moved today, trending stocks.
Ocugen, Inc. (OCGN): 5.25+2.00 (+61.54%)
Luckin Coffee Inc. (LKNCY): 7.05-5.77 (-45.01%)
Atlantic American Corporation (AAME): 5.20+2.81 (+117.57%)