Strong Rally Continues for U.S. Stock Market & 63% of Companies Beat Earnings Estimates

The U.S. stock market continued its rally this week, with the Dow Jones Industrial Average (DJIA) and S&P 500 (SPX) advancing 0.2% and 0.9%, respectively. The tech-heavy Nasdaq Composite (^IXIC) fared the worst, losing 1.0%.[0] This follows a mixed week of market performance, with the Dow Jones Industrial Average (DJIA) edging down 0.2%, the S&P 500 (SPX) falling 1.1%, and the tech-heavy Nasdaq Composite (^IXIC) losing 2.4%.

Treasury yields also rose this week, with the 10-year Treasury yield (US10Y) increasing 6 basis points to 3.75% and the 2-year yield (US2Y) increasing 2 basis points to 4.53%. The 10-year Treasury’s yield increased by five basis points, bringing it to 3.68%.

The U.S. stock market opened the day modestly higher following positive earnings reports and a decline in bond yields. Stock futures were pointed mostly higher, with the Dow Jones Industrial Average (DJIA) slightly below breakeven and the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures pointed firmly higher.

West Texas Intermediate crude oil rose 1.35% to $74.38 per barrel and Brent crude, the international benchmark, tacked on 1.63% to hit $81.24.[1]

Thus far, 63% of the constituents of the S&P 500 index have reported their fourth-quarter earnings.[2] Data from FactSet reveals that 69.5% of those companies have exceeded analyst predictions.[3] Data from The Earnings Scout shows that the beat rate is under the three-year average of 79%.[3]

Top stocks to buy and watch include Visteon (VC), Etsy (ETSY), Wingstop (WING), Caterpillar (CAT), and JPMorgan Chase (JPM).[4] Investors should also keep an eye on top growth stocks including Tesla (TSLA) and Apple (AAPL).

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0. “Nasdaq, S&P, Dow look for direction, set to end lower for the week on Fed concerns” Seeking Alpha, 10 Feb. 2023,

1. “Dow Jumps Over 300 Points, Dollar Surges in Midday Trading” msnNOW, 13 Feb. 2023,

2. “Stock market news today: Rising interest rates help spoil early gains” Markets Insider, 9 Feb. 2023,

3. “Dow closes nearly 250 points lower, Nasdaq sheds 1% as Alphabet shares slide: Live updates” CNBC, 9 Feb. 2023,

4. “Dow Jones Rallies 250 Points After Jobless Claims; Tesla Stock Doubles From Lows” Investor’s Business Daily, 9 Feb. 2023,