- February 8, 2022
- Posted by: Bastion team
- Category: World News
Wall Street’s key benchmarks oscillated early Tuesday after U.S. stocks started the week lower in a choppy session wrought by mixed corporate earnings and renewed Federal Reserve worries ahead of a fresh inflation report due out Thursday.
The S&P 500 hovered near the flatline, down 0.11%, while the Dow Jones Industrial Average gained 82.96 points, or +0.24%. The Nasdaq Composite wavered to edge 0.33% lower. Meanwhile, the benchmark 10-year Treasury note rose to 1.92%.
Mixed fourth quarter results from U.S. tech giants have weighed on investors already grappling with a Fed readying to tighten monetary conditions and raise interest rates as soon as next month. Stocks slid last week following a disappointing outlook from Meta Platforms (FB) and posted a sharp comeback following an earnings beat by Amazon’s (AMZN). Another trove of results lies in store for investors this week from companies including Disney (DIS), Uber (UBER), Lyft (LYFT), Pfizer (PFE) and Coca-Cola (KO). Peloton (PTON) will also unveil its 2021 year-end figures amid reports that companies including Amazon and Nike (NKE) are weighing potential acquisition bids.
“The first few weeks of this year were driven much more by macro concerns — higher interest rates, pricing the Fed, inflation,” Stuart Kaiser, UBS head of equity derivatives research, told Yahoo Finance Live. “Since then, we’ve had a window of opportunity where earnings took over.”
Despite a steep sell-off in Meta, other tech companies…