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US close: Stocks end session higher as Dow stages biggest comeback since March 2020

By Iain Gilbert

Date: Tuesday 25 Jan 2022

US close: Stocks end session higher as Dow stages biggest comeback since March 2020

(Sharecast News) - Wall Street stocks closed slightly higher on Monday as market participants piled on battered tech stocks following a sharp sell-off at the end of last week.
At the close, the Dow Jones Industrial Average was up 0.29% at 34,364.50, while the S&P 500 was 0.28% firmer at 4,410.13 and the Nasdaq Composite saw out the session 0.63% softer at 13,855.13.

The Dow closed 99.13 points higher on Monday, taking a small bit out of heavy losses recorded in the previous session after Netflix weighed on the tech-heavy Nasdaq.

Stocks halted their recent fall on Monday as the Nasdaq Composite, which was down more than 4% early on in the session, still managed to close out the day's trading in the green - the first time that has happened since 2008. The Dow also staged its largest intraday comeback since March 2020.

The CBOE Volatility Index, commonly referred to as Wall Street's "fear gauge", hit its highest level since November 2020, surpassing the 38 level at its intraday highs.

Market participants were looking ahead to the central bank's two-day policy meeting on Wednesday, with investors hoping to gather any hints on exactly how much the Fed will look to raise interest rates by in 2022 and when it will start doing so.

Also in focus, the yield on the benchmark 10-year Treasury note remained elevated at around 1.764% and roughly a quarter of a percentage point higher for the year-to-date.

On the macro front, the Chicago Federal Reserve's national activity index printed at -0.15 in December, down from 0.44 in November and short of estimates for a reading of 0.25.

Elsewhere, a flash reading of IHS Markit's manufacturing PMI revealed that US business activity expanded its slowest pace in 18 months January amid a winter surge in new Covid-19 cases. According to the report, IHS' output index fell to a reading of 50.8 from 57.0 in December, while the flash composite orders index slipped to a reading of 55.0 from 56.6 in December

In the corporate space, Halliburton declared a quarterly dividend of $0.12 per share as it posted fourth-quarter revenues and earnings per share that well and truly beat the firm's 2020 performance, while Peloton shares closed almost 10% higher after bouncing back over 11% on Friday.

IBM shares were up more than 6% in after-hours trading after the company's latest batch of quarterly earnings topped expectations, while Microsoft, Tesla and Apple will publish their latest quarterly figures later on in the week.

Dow Jones - Risers

Home Depot Inc. (HD) $363.81 4.21%
Travelers Company Inc. (TRV) $168.83 3.83%
Nike Inc. (NKE) $146.00 2.13%
Salesforce.Com Inc. (CRM) $223.03 2.01%
Cisco Systems Inc. (CSCO) $56.90 0.39%
Unitedhealth Group Inc. (UNH) $462.27 0.24%
Chevron Corp. (CVX) $127.18 0.21%
American Express Co. (AXP) $158.93 0.12%
Microsoft Corp. (MSFT) $296.37 0.11%
Caterpillar Inc. (CAT) $214.33 0.11%

Dow Jones - Fallers

Visa Inc. (V) $201.85 -1.98%
Merck & Co. Inc. (MRK) $78.83 -1.44%
Johnson & Johnson (JNJ) $162.97 -1.15%
Procter & Gamble Co. (PG) $161.30 -0.81%
Coca-Cola Co. (KO) $59.96 -0.81%
Amgen Inc. (AMGN) $226.08 -0.72%
Boeing Co. (BA) $204.20 -0.60%
Apple Inc. (AAPL) $161.62 -0.49%
International Business Machines Corporation (CDI) (IBM) $128.82 -0.41%
McDonald's Corp. (MCD) $253.61 -0.38%

S&P 500 - Risers

Kohls Corp. (KSS) $63.71 36.02%
Macy's Inc. (M) $27.07 18.00%
Nordstrom Inc. (JWN) $22.59 12.95%
Gap Inc. (GPS) $17.12 7.94%
Foot Locker Inc. (FL) $46.47 7.64%
Bath & Body Works, Inc. (BBWI) $56.18 5.90%
Citrix Systems Inc. (CTXS) $106.34 5.16%
Best Buy Co. Inc. (BBY) $101.38 5.11%
United Rentals Inc. (URI) $312.19 5.05%
Lennar Corp. Class A (LEN) $100.01 4.93%

S&P 500 - Fallers

TripAdvisor Inc. (TRIP) $26.55 -3.42%
Dish Network Corp. (DISH) $30.83 -2.93%
Electronic Arts Inc. (EA) $135.20 -2.74%
Netflix Inc. (NFLX) $387.15 -2.60%
Freeport-McMoRan Inc (FCX) $39.96 -2.51%
Sempra Energy (SRE) $131.65 -2.41%
Pfizer Inc. (PFE) $51.54 -2.37%
Philip Morris International Inc. (PM) $100.58 -2.27%
Atmos Energy Corp. (ATO) $102.32 -2.17%
Apartment Investment & Management Co. (AIV) $6.70 -2.05%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $7.66 7.74%
Vodafone Group Plc ADS (VOD) $16.90 6.76%
Citrix Systems Inc. (CTXS) $106.34 5.16%
T-Mobile Us, Inc. (TMUS) $106.65 4.95%
KLA-Tencor Corp. (KLAC) $391.10 4.84%
Dollar Tree Inc (DLTR) $132.15 4.69%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $364.84 4.41%
Adobe Systems Inc. (ADBE) $519.66 3.95%
O'Reilly Automotive Inc. (ORLY) $657.77 3.44%
Applied Materials Inc. (AMAT) $139.29 3.13%

Nasdaq 100 - Fallers

Baidu Inc. (BIDU) $149.05 -4.97%
Dish Network Corp. (DISH) $30.83 -2.93%
Electronic Arts Inc. (EA) $135.20 -2.74%
Netflix Inc. (NFLX) $387.15 -2.60%
Mercadolibre Inc. (MELI) $1,026.63 -2.46%
JD.com, Inc. (JD) $71.74 -2.34%
Fiserv Inc. (FISV) $102.74 -2.02%
Expedia Group Inc. (EXPE) $171.35 -1.76%
NetEase Inc. Ads (NTES) $95.29 -1.75%
Activision Blizzard Inc. (ATVI) $79.97 -1.70%

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