US Markets Higher, Roblox Surges 25%, 10-Year Yield Up to 3.81%
By 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.[0]
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.[1]
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.[1] 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.[2] The fourth-quarter loss per share of $1.70 was marginally lower than the $1.74 predicted by analysts.[1]
Bond trading saw yields move up a bit.[0] 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[3] [3] 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.[3] The Philadelphia Federal Reserve is set to divulge the findings of its survey of business conditions.[3]
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.[4] 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%.[5] The 12-month inflation rate decreased from 6.5% in December to 6.4%, a positive change.[5] The core inflation rate increased by[5]
0. “Dow, Nasdaq, S&P 500 overcome lingering Fed fears to end choppy session higher” Seeking Alpha, 15 Feb. 2023, https://seekingalpha.com/news/3936612-dow-nasdaq-sp-500-end-higher-despite-choppy-trading-as-fed-fears-linger
1. “Stock market news today: Stock futures waver, bitcoin rallies” Yahoo News, 16 Feb. 2023, https://news.yahoo.com/stock-market-news-live-updates-february-16-2023-122740853.html
2. “Late Trading Higher on Big Quarterly Reports: CSCO, SHOP & More” Zacks Investment Research, 15 Feb. 2023, https://www.zacks.com/stock/news/2054930/late-trading-higher-on-big-quarterly-reports-csco-shop-more
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
4. “Stock Market Indexes Pull Ahead In Final Hour; Etsy Posts Over 6% Gain” Investor's Business Daily, 15 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/the-stock-market-climbs-out-of-morning-hole-stock-soars/
5. “Before the Bell: Tesla Drives Nasdaq, Soros Drives Tesla and Buffett Dumps TSMC” 24/7 Wall St., 15 Feb. 2023, https://247wallst.com/investing/2023/02/15/before-the-bell-tesla-drives-nasdaq-soros-drives-tesla-and-buffett-dumps-tsmc
