Stocks traded higher on Thursday, with the S&P 500 Index rising 0.1%, the Dow Jones Industrial Average adding 0.4%, and the Nasdaq Composite up 0.9%. Roblox (RBLX) surged 25% after the video game platform released better-than-expected bookings data for Q4, while Devon Energy (DVN) fell 10% after its fourth-quarter results missed expectations.
The yield on the benchmark 10-year U.S. Treasury note ticked down to 3.78%, while Brent crude futures fell 0.3% to $85.08 a barrel. Retail sales jumped 3% in January, the Commerce Department said, reversing two consecutive monthly declines, coupled with higher-than-expected reading on consumer prices Tuesday.
The Congressional Budget Office warned on Wednesday that the Treasury Department’s ability to continue paying its government bills would be exhausted by the summer unless lawmakers strike a deal to raise the debt ceiling. Shares of Roku (ROKU) experienced an increase on Thursday morning as its net revenue of $867.1 million exceeded analysts' expectations of $804.5 million. The fourth-quarter loss per share of $1.70 was marginally lower than the $1.74 predicted by analysts.
Bond trading saw yields move up a bit. The yield on the 10-year U.S. Treasury (US10Y) rose 5 basis points to 3.81%, while the yield on the 2-year U.S. Treasury (US2Y) increased by At 8:30 a.m., four economic data points will be released  This week, the Labor Department will publish the weekly jobless claims and producer price inflation figures, while the Commerce Department will issue its January housing starts report. The Philadelphia Federal Reserve is set to divulge the findings of its survey of business conditions.
On Tuesday evening, Airbnb (ABNB) experienced a 13.4% surge in stock prices after reporting revenue and earnings that surpassed expectations, as well as its first annual profit. On Tuesday, the monthly Consumer Price Index (CPI), as well as the core CPI, both increased as expected; the CPI rising by 0.5% and the core CPI by 0.4%. The 12-month inflation rate decreased from 6.5% in December to 6.4%, a positive change. The core inflation rate increased by
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3. “US Stocks' Resilience Faces Test As Traders Await Flurry Of Economic Data: Fed May ‘Surprise To The Upsid” Benzinga, 16 Feb. 2023, https://www.benzinga.com/news/earnings/23/02/30938492/us-stocks-resilience-faces-test-as-traders-await-flurry-of-economic-data-fed-may-surprise-to-the-up
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