U.S. stocks ended the month of February on a low note, with the Dow Jones Industrial Average (DJIA) closing down 181 points, or 0.6%, near 32,709, while the S&P 500 index (SPX) was off 0.1% and the Nasdaq Composite Index (COMP) was 0.3% higher, according to FactSet data. <\/p>\n
[0]<\/a><\/sup> Shares of Zoom (ZM) increased in value following the announcement of fourth quarter earnings that exceeded expectations, with earnings per share of $1.22, compared to the estimated 80 cents.[1]<\/a><\/sup> The total revenue was $1.12 billion.[2]<\/a><\/sup> Meanwhile, Occidental Petroleum (OXY) shares moved down on Tuesday after the oil and gas producer posted fourth-quarter results that came in below Wall Street expectations on revenue and earnings per share.[3]<\/a><\/sup><\/p>\n On the economic front, durable goods orders dropped by a larger-than-expected 4.5% in January, while core durable goods jumped 0.7%, outpacing the 0.1% increase that economists had predicted.[4]<\/a><\/sup> The University of Michigan’s consumer sentiment index in the U.S. for February was adjusted upwards by 0.6 points to a record high of 67.0 for the past 13 months.[5]<\/a><\/sup> In January, the Federal Reserve’s favored measure of inflation in the economy, the Personal Consumption Expenditures (PCE) price index, rose by 0.6%, with an increase of 5.4% from the same period in the previous year.[6]<\/a><\/sup> Excluding food and energy components that are subject to frequent fluctuations, prices increased 0.6% from the previous month and 4.7% year-over-year.[6]<\/a><\/sup><\/p>\n Data from the S&P Corelogic Case-Shiller Index revealed that home prices dropped by 0.5% in December.[7]<\/a><\/sup> Yearly, home prices increased by 4.6%, which was lower than what analysts predicted (4.8%).[2]<\/a><\/sup><\/p>\n In the fixed income markets, yields moved in different directions.[8]<\/a><\/sup> The US10Y 10-year Treasury yield rose 1 basis point to 3.93%, while the US2Y 2-year yield stayed at 4.79%. Examining the bond market, interest rates moved downwards.[9]<\/a><\/sup> <\/p>\n 0. <\/span>“US Markets End Down for the Day and Month” Investopedia, 28 Feb. 2023, https:\/\/www.investopedia.com\/us-markets-end-down-for-the-day-and-month-7152891<\/a><\/a><\/p>\n 1. <\/span>“Dow futures rise 70 pts; Target earnings, Goldman investor day in focus By Investing.com” Investing.com, 28 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-70-pts-target-earnings-goldman-investor-day-in-focus-3016858<\/a><\/a><\/p>\n 2. <\/span>“Stock market news today: Stocks fall as volatile month comes to close” Yahoo News, 28 Feb. 2023, https:\/\/news.yahoo.com\/stock-market-news-live-updates-february-28-2023-120603661.html<\/a><\/a><\/p>\n 3. <\/span>“Dow closes more than 200 points lower Tuesday, major averages end February with losses: Live updates” CNBC, 28 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/27\/stock-futures-live-update-open-to-close.html<\/a><\/a><\/p>\n 4. <\/span>“Stock Market News Today: Bulls Finish Today\u2019s Session in Control” TipRanks, 27 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-recoup-from-a-dull-trading-week<\/a><\/a><\/p>\n 5. <\/span>“Stocks Tumble as Strong Economic Reports Bolster the Case for Tighter Fed Policy” Barchart, 24 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/14527214\/stocks-tumble-as-strong-economic-reports-bolster-the-case-for-tighter-fed-policy<\/a><\/a><\/p>\n 6. <\/span>“Stock market news today: Stocks slide after hotter-than-expected key inflation print” AOL, 24 Feb. 2023, https:\/\/www.aol.com\/stock-market-news-today-stock-104349676.html<\/a><\/a><\/p>\n 7. <\/span>“Stock Market Today: Stocks Wobble as February Draws to a Close” Kiplinger’s Personal Finance, 28 Feb. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-022823-stocks-wobble-as-february-draws-to-a-close<\/a><\/a><\/p>\n 8. <\/span>“Nasdaq, Dow, S&P seesaw as stocks look for momentum on last day of February (SP500)” Seeking Alpha, 28 Feb. 2023, https:\/\/seekingalpha.com\/news\/3941896-nasdaq-sp500-dow-jones-stock-market-economic-data-feb-end<\/a><\/a><\/p>\n 9. <\/span>“Dow, Nasdaq, S&P 500 bounce back after last week’s drop (SP500)” Seeking Alpha, 27 Feb. 2023, https:\/\/seekingalpha.com\/news\/3941369-dow-nasdaq-sp-500-bounce-back-after-last-weeks-drop<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stocks ended the month of February on a low note, with the Dow Jones Industrial Average (DJIA) closing down 181 points, or 0.6%, near 32,709, while the S&P 500 index (SPX) was off 0.1% and the Nasdaq Composite Index (COMP) was 0.3% higher, according to FactSet data. <\/p>\n [0]<\/a><\/sup> Shares of Zoom (ZM) increased in value following the announcement of fourth quarter earnings that exceeded expectations, with earnings per share of $1.22, compared to the estimated 80 cents.[1]<\/a><\/sup> The total revenue was $1.12 billion.[2]<\/a><\/sup> Meanwhile, Occidental Petroleum (OXY) shares moved down on Tuesday after the oil and gas producer posted fourth-quarter results that came in below Wall Street expectations on revenue and earnings per share.[3]<\/a><\/sup><\/p>\n On the economic front, durable goods orders dropped by a larger-than-expected 4.5% in January, while core durable goods jumped 0.7%, outpacing the 0.1% increase that economists had predicted.[4]<\/a><\/sup> The University of Michigan’s consumer sentiment index in the U.S. for February was adjusted upwards by 0.6 points to a record high of 67.0 for the past 13 months.[5]<\/a><\/sup> In January, the Federal Reserve’s favored measure of inflation in the economy, the Personal Consumption Expenditures (PCE) price index, rose by 0.6%, with an increase of 5.4% from the same period in the previous year.[6]<\/a><\/sup> Excluding food and energy components that are subject to frequent fluctuations, prices increased 0.6% from the previous month and 4.7% year-over-year.[6]<\/a><\/sup><\/p>\n Data from the S&P Corelogic Case-Shiller Index revealed that home prices dropped by 0.5% in December.[7]<\/a><\/sup> Yearly, home prices increased by 4.6%, which was lower than what analysts predicted (4.8%).[2]<\/a><\/sup><\/p>\n In the fixed income markets, yields moved in different directions.[8]<\/a><\/sup> The US10Y 10-year Treasury yield rose 1 basis point to 3.93%, while the US2Y 2-year yield stayed at 4.79%. Examining the bond market, interest rates moved downwards.[9]<\/a><\/sup> <\/p>\n 0. <\/span>“US Markets End Down for the Day and Month” Investopedia, 28 Feb. 2023, https:\/\/www.investopedia.com\/us-markets-end-down-for-the-day-and-month-7152891<\/a><\/a><\/p>\n 1. <\/span>“Dow futures rise 70 pts; Target earnings, Goldman investor day in focus By Investing.com” Investing.com, 28 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-70-pts-target-earnings-goldman-investor-day-in-focus-3016858<\/a><\/a><\/p>\n 2. <\/span>“Stock market news today: Stocks fall as volatile month comes to close” Yahoo News, 28 Feb. 2023, https:\/\/news.yahoo.com\/stock-market-news-live-updates-february-28-2023-120603661.html<\/a><\/a><\/p>\n 3. <\/span>“Dow closes more than 200 points lower Tuesday, major averages end February with losses: Live updates” CNBC, 28 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/27\/stock-futures-live-update-open-to-close.html<\/a><\/a><\/p>\n 4. <\/span>“Stock Market News Today: Bulls Finish Today\u2019s Session in Control” TipRanks, 27 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-recoup-from-a-dull-trading-week<\/a><\/a><\/p>\n 5. <\/span>“Stocks Tumble as Strong Economic Reports Bolster the Case for Tighter Fed Policy” Barchart, 24 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/14527214\/stocks-tumble-as-strong-economic-reports-bolster-the-case-for-tighter-fed-policy<\/a><\/a><\/p>\n 6. <\/span>“Stock market news today: Stocks slide after hotter-than-expected key inflation print” AOL, 24 Feb. 2023, https:\/\/www.aol.com\/stock-market-news-today-stock-104349676.html<\/a><\/a><\/p>\n 7. <\/span>“Stock Market Today: Stocks Wobble as February Draws to a Close” Kiplinger’s Personal Finance, 28 Feb. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-022823-stocks-wobble-as-february-draws-to-a-close<\/a><\/a><\/p>\n 8. <\/span>“Nasdaq, Dow, S&P seesaw as stocks look for momentum on last day of February (SP500)” Seeking Alpha, 28 Feb. 2023, https:\/\/seekingalpha.com\/news\/3941896-nasdaq-sp500-dow-jones-stock-market-economic-data-feb-end<\/a><\/a><\/p>\n 9. <\/span>“Dow, Nasdaq, S&P 500 bounce back after last week’s drop (SP500)” Seeking Alpha, 27 Feb. 2023, https:\/\/seekingalpha.com\/news\/3941369-dow-nasdaq-sp-500-bounce-back-after-last-weeks-drop<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1596,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1597"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1597"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1596"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}