US close: Stocks rise ahead of key inflation print
By Josh White
Date: Tuesday 14 Feb 2023
(Sharecast News) - Wall Street stocks were higher at the opening bell on Monday as both the S&P 500 and Nasdaq Composite strained to recover from their worst weekly showing since late last year.
At the close, the Dow Jones Industrial Average was up 1.11% at 34,245.93, while the S&P 500 advanced 1.14% to 4,137.29 and the Nasdaq Composite crossed the line 1.48% firmer at 11,891.79.
The Dow closed 376.66 points higher on Monday, extending the gains it recorded on Friday when major indices wrapped up a volatile week with a mixed performance.
Market participants were looking ahead to Tuesday's consumer price index, with traders hoping to gain some kind of insight into the pace of inflation and to figure just what the Federal Reserve could do next in order to combat it.
On the macro front, Federal Reserve banker Michelle Bowman said the central bank would need to continue hiking and raise interest rates in order to get them to a level high enough to bring inflation back down to its target rate.
"I expect we'll continue to increase the federal funds rate because we have to bring inflation back down to our 2% goal and in order to do that we need to bring demand and supply into better balance," Bowman said in front of an American Bankers Association conference in Florida.
In the corporate space, Avis Budget Group was up 2.64% and Denny's managed gains of 0.83% ahead of both reporting earnings after the close of trading.
Coca-Cola, Marriott, Airbnb, Kraft Heinz, and Paramount were also all set to publish quarterly earnings figures before the week is out.
Reporting by Josh White for Sharecast.com. Additional reporting by Iain Gilbert.
Dow Jones - Risers
Microsoft Corp. (MSFT) $271.32 3.12%
Intel Corp. (INTC) $28.55 2.70%
Salesforce.Com Inc. (CRM) $171.01 2.42%
Nike Inc. (NKE) $125.11 2.39%
Home Depot Inc. (HD) $323.53 2.21%
Apple Inc. (AAPL) $153.85 1.88%
Coca-Cola Co. (KO) $60.57 1.64%
Walgreens Boots Alliance, Inc. (WBA) $37.11 1.53%
Walmart Inc. (WMT) $145.91 1.52%
McDonald's Corp. (MCD) $266.13 1.44%
Dow Jones - Fallers
Chevron Corp. (CVX) $171.01 -0.56%
Walt Disney Co. (DIS) $107.66 -0.37%
Dowdupont Inc. (DWDP) $0.00 0.00%
Caterpillar Inc. (CAT) $248.05 0.19%
Unitedhealth Group Inc. (UNH) $495.37 0.22%
Johnson & Johnson (JNJ) $162.75 0.37%
Travelers Company Inc. (TRV) $187.61 0.46%
Amgen Inc. (AMGN) $243.66 0.48%
Goldman Sachs Group Inc. (GS) $374.00 0.74%
Visa Inc. (V) $228.80 0.74%
S&P 500 - Risers
Illumina Inc. (ILMN) $215.94 9.85%
Coty Inc. Class A (COTY) $11.16 7.30%
Nektar Therapeutics (NKTR) $3.08 5.12%
Carnival Corp. (CCL) $11.64 4.30%
Whirlpool Corp. (WHR) $147.60 4.30%
Norwegian Cruise Line Holdings Ltd (NCLH) $16.93 4.25%
IQVIA Holdings Inc. (IQV) $232.23 4.16%
Stanley Black & Decker Inc. (SWK) $89.27 4.00%
Ralph Lauren Corp (RL) $122.88 3.95%
Equifax Inc. (EFX) $213.74 3.75%
S&P 500 - Fallers
Fidelity National Information Services Inc. (FIS) $66.00 -12.50%
CF Industries Holdings Inc. (CF) $86.85 -4.02%
Global Payments Inc. (GPN) $114.77 -2.63%
Apache Corp. (APA) $42.51 -2.41%
ConocoPhillips (COP) $112.35 -2.39%
Mosaic Company (MOS) $50.08 -2.09%
FMC Corp. (FMC) $128.97 -1.72%
Paypal Holdings Inc (PYPL) $79.45 -1.67%
Marathon Oil Corp. (MRO) $27.32 -1.51%
Dominion Energy Inc. (D) $58.61 -1.51%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $215.94 9.85%
Qurate Retail Inc. (QRTEA) $2.44 6.09%
Baidu Inc. (BIDU) $146.86 5.66%
Vodafone Group Plc ADS (VOD) $11.68 4.85%
Trip.com Group Limited (TCOM) $37.85 3.50%
Expedia Group Inc. (EXPE) $111.35 3.45%
Netflix Inc. (NFLX) $358.57 3.23%
Henry Schein Inc. (HSIC) $88.82 3.18%
Booking Holdings Inc. (BKNG) $2,423.03 3.18%
Microsoft Corp. (MSFT) $271.32 3.12%
Nasdaq 100 - Fallers
Paypal Holdings Inc (PYPL) $79.45 -1.67%
Tesla Inc (TSLA) $194.64 -1.14%
Liberty Global plc Series A (LBTYA) $21.08 -0.89%
Liberty Global plc Series C (LBTYK) $21.65 -0.82%
Biomarin Pharmaceutical Inc. (BMRN) $109.01 -0.41%
Sirius XM Holdings Inc (SIRI) $4.71 -0.21%
Intuitive Surgical Inc. (ISRG) $245.13 -0.06%
Citrix Systems Inc. (CTXS) $103.90 0.00%
Xilinx Inc. (XLNX) $0.00 0.00%
Celgene Corp. (CELG) $0.00 0.00%
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