It sucks to be Amazon and have to take a backseat when your stock soars by 7.67% on the day. However, it was Meta and Mark Zuckerberg’s day to roar, and roar they did. Share’s of Meta moved up $80.21 or 20.32% after beating expectations, announcing a first ever dividend, and announcing a $50B buyback of shares.
Meta and Zuckerberg roar
Overall, all the major indices moved higher and all three closed higher for the week as well. It is the 4th week in a row higher after starting the year with a sharp fall. The S&P index in the Dow Industrial Average” levels today.
The final numbers are showing:
- Dow Industrial Average is up 134.56 points or 0.35% at 38654.41
- S&P index is up 52.44 points or 1.07% at 4958.62
- NASDAQ index is up 267.30 points or 1.74% at 15628.94
For the trading week:
- Dow Industrial Average rose 1.43%
- S&P index rose 1.38%
- NASDAQ index rose 1.12%
The small-cap Russell 2000 did not like the sharp rise in yields after the stronger-than-expected US jobs report. As a result,that index fell -11.68 points or -0.59% to 1962.73. For the week, the Russell 2000 fell by -0.788%
The regional bank KRE ETF did advance today by 0.25 points or 0.52% to $48.40, but still closed down by -7.16% in trading this week.
For the trading week which saw 5 of the Magnificent 7 announce earnings (Microsoft, Alphabet, Apple, Meta, Amazon, announce earnings):
- Meta rose 20.51%
- Alphabet-6.44%
- Microsoft rose 1.80%
- Apple-3.39%
- Amazon, rose 7.99%
The other two of the 7, Tesla and Nvidia rose this week. Today Nvidia soared by 4.97%:
- Tesla rose 2.54% despite falling -0.50% today (already announced earnings on January 24)
- Nvidia rose 8.40% (won’t announce earnings until February 21).
One of the biggest high flyers this week Super Micro Computer gave back some of its gains with the decline of – $-3.87 or -0.66%. For the trading week, shares were up 22.25%.