Stocks concluded higher on Friday, with the S&P 500 and Nasdaq closing out the session at record levels.

The S&P 500 and Nasdaq each rose aproximatelly 0.5 %, while the Dow concluded simply a tick above the flatline. U.S. stocks shook off earlier declines after tracking a drop in overseas equities, after new data showed that UK gross domestic product (GDP) slumped by a record 9.9 % in 2020 as a virus-induced recession swept the nation.

Shares of Dow component Disney (DIS) reversed earlier profits to fall more than 1 % and take back from a record high, after the company posted a surprise quarterly profit and grew Disney+ streaming subscribers more than expected. Newly public organization Bumble (BMBL), which started trading on the Nasdaq on Thursday, rose another seven % after jumping 63 % in the public debut of its.

Over the older couple weeks, investors have absorbed a bevy of stronger than expected earnings results, with corporate earnings rebounding way quicker than expected regardless of the continuous pandemic. With at least eighty % of companies right now having claimed fourth quarter outcomes, S&P 500 earnings per share (EPS) have topped estimates by 17 % in aggregate, and bounced back above pre COVID amounts, in accordance with an analysis by Credit Suisse analyst Jonathan Golub.

“Prompt and good government action mitigated the [virus related] damage, leading to outsized economic and earnings surprises,” Golub said. “The earnings recovery has been substantially more robust than we could have dreamed when the pandemic for starters took hold.”

Stocks have continued to establish new record highs against this backdrop, and as monetary and fiscal policy support remain robust. But as investors come to be comfortable with firming corporate performance, businesses could possibly need to top even bigger expectations to be rewarded. This could in turn put some pressure on the broader market in the near term, and warrant more astute assessments of specific stocks, in accordance with some strategists.

“It is actually no secret that S&P 500 performance has long been very formidable over the past few calendar years, driven mainly through valuation expansion. Nevertheless, with the index P/E [price-to-earnings ratio] recently eclipsing its prior dot-com high, we think that valuation multiples will begin to compress in the coming months,” BMO Capital Markets strategist Brian Belski wrote in a note Thursday. “According to the job of ours, strong EPS growth will be important for the next leg greater. Fortunately, that is precisely what existing expectations are forecasting. But, we also realized that these kinds of’ EPS-driven’ periods tend to become more tricky from an investment strategy standpoint.”

“We believe that the’ easy cash days’ are actually over for the time being and investors will need to tighten up their focus by evaluating the merits of individual stocks, as opposed to chasing the momentum laden methods which have recently dominated the expense landscape,” he added.

4:00 p.m. ET: Stocks end higher, S&P 500 and Nasdaq reach record closing highs
Here is exactly where the main stock indexes ended the session:

S&P 500 (GSPC): +18.55 points (+0.47 %) to 3,934.93

Dow (DJI): +27.44 points (+0.09 %) to 31,458.14

Nasdaq (IXIC): +69.70 points (+0.5 %) to 14,095.47

2:58 p.m. ET:’ Climate change’ would be the most cited Biden policy on corporate earnings calls: FactSet
Fourth-quarter earnings season signifies the first with President Joe Biden in the White House, bringing a new political backdrop for corporations to contemplate.

Biden’s policies around climate change as well as environmental protections have been the most cited political issues brought up on corporate earnings calls so far, based on an analysis from FactSet’s John Butters.

“In terms of government policies discussed in conjunction with the Biden administration, climate change as well as energy policy (twenty eight), tax policy (20 ) and COVID-19 policy (19) have been cited or maybe talked about by the highest number of businesses with this point in time in 2021,” Butters wrote. “Of these twenty eight companies, seventeen expressed support (or perhaps a willingness to the office with) the Biden administration on policies to greatly reduce carbon as well as greenhouse gas emissions. These 17 companies both discussed initiatives to minimize the own carbon of theirs as well as greenhouse gas emissions or maybe services or merchandise they supply to help clients & customers lower their carbon and greenhouse gas emissions.”

“However, four businesses also expressed a number of concerns about the executive order setting up a moratorium on new oil and gas leases on federal lands (and offshore),” he added.

The list of twenty eight firms discussing climate change and energy policy encompassed businesses from a broad array of industries, including JPMorgan Chase, United Airlines Holdings and 3M, alongside traditional oil majors as Chevron.

11:36 a.m. ET: Stocks combined, S&P 500 and Nasdaq turn positive
Here is in which marketplaces had been trading Friday intraday:

S&P 500 (GSPC): +7.87 points (+0.2 %) to 3,924.25

Dow (DJI): -8.77 points (-0.03 %) to 31,421.93

Nasdaq (IXIC): +28.15 points (+0.21 %) to 14,053.77

Crude (CL=F): +$0.65 (+1.12 %) to $58.89 a barrel

Gold (GC=F): +$0.20 (+0.01 %) to $1,827.00 per ounce

10-year Treasury (TNX): +2.7 bps to deliver 1.185%

10:15 a.m. ET: Consumer sentiment suddenly plunges to a six-month lower in February: U. Michigan
U.S. consumer sentiment slid to probably the lowest level since August in February, in accordance with the University of Michigan’s preliminary monthly survey, as Americans’ assessments of the path ahead for the virus stricken economy unexpectedly grew much more grim.

The headline consumer sentiment index dipped to 76.2 from 79.0 in January, sharply lacking expectations for an increase to 80.9, according to Bloomberg consensus data.

The complete loss of February was “concentrated in the Expectation Index and among households with incomes under $75,000. Households with incomes in the bottom third reported significant setbacks in the present finances of theirs, with fewer of these households mentioning recent income gains than whenever since 2014,” Richard Curtin chief economist for the university’s Surveys of Consumers, said in a statement.

“Presumably a brand new round of stimulus payments will lessen fiscal hardships among those with probably the lowest incomes. Much more surprising was the finding that consumers, despite the likely passage of a grand stimulus bill, viewed prospects for the national economy less favorably in early February compared to more month,” he added.

9:30 a.m. ET: Stocks open lower, but speed toward posting weekly gains
Here is where marketplaces were trading only after the opening bell:

S&P 500 (GSPC): -8.31 points (0.21 %) to 3,908.07

Dow (DJI): -19.64 (0.06 %) to 31,411.06

Nasdaq (IXIC): -53.51 (+0.41 %) to 13,970.45

Crude (CL=F): -1dolar1 0.23 (-0.39 %) to $58.01 a barrel

Gold (GC=F): 1dolar1 10.70 (0.59 %) to $1,816.10 per ounce

10-year Treasury (TNX): +3.2 bps to deliver 1.19%

9:05 a.m. ET: Equity funds see highest weekly inflows ever as investors pile into tech stocks: Bank of America
Stock cash just discovered the largest ever week of theirs of inflows for the period ended February ten, with inflows totaling a record $58.1 billion, according to Bank of America. Investors pulled a total of $800 million out of gold and $10.6 billion out of money throughout the week, the firm added.

Tech stocks in turn saw their own record week of inflows at $5.4 billion. U.S. large cap stocks saw the second largest week of theirs of inflows ever at $25.1 billion, and U.S. small cap inflows saw their third-largest week at $5.6 billion.

Bank of America warned that frothiness is actually rising in markets, nonetheless, as investors keep piling into stocks amid low interest rates, as well as hopes of a strong recovery for corporate earnings and the economy. The firm’s proprietary “Bull as well as Bear Indicator” tracking market sentiment rose to 7.7 from 7.5, nearing an 8.0 “sell” signal.

7:14 a.m. ET Friday: Stock futures point to a lower open
The following had been the primary moves in markets, as of 7:16 a.m. ET Friday:

S&P 500 futures (ES=F): 3,904.00, printed 8.00 points or even 0.2%

Dow futures (YM=F): 31,305.00, down 54 points or 0.17%

Nasdaq futures (NQ=F): 13,711.25, down 17.75 points or 0.13%

Crude (CL=F): 1dolar1 0.43 (-0.74 %) to $57.81 a barrel

Gold (GC=F): 1dolar1 9.50 (-0.52 %) to $1,817.30 per ounce

10-year Treasury (TNX): +0.5 bps to deliver 1.163%

6:03 p.m. ET Thursday: Stock futures tick higher
Here’s in which marketplaces had been trading Thursday as overnight trading kicked off:

S&P 500 futures (ES=F): 3,904.50, down 7.5 points or 0.19%

Dow futures (YM=F): 31,327.00, down 32 points or perhaps 0.1%

Nasdaq futures (NQ=F): 13,703.5, down 25.5 points or even 0.19%