{"id":931,"date":"2023-02-15T19:18:01","date_gmt":"2023-02-16T00:18:01","guid":{"rendered":"https:\/\/embarrdowns.com\/us-stocks-edge-higher-as-roblox-airbnb-lead-gains-inflation-concerns-loom\/"},"modified":"2023-02-15T19:18:01","modified_gmt":"2023-02-16T00:18:01","slug":"us-stocks-edge-higher-as-roblox-airbnb-lead-gains-inflation-concerns-loom","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/us-stocks-edge-higher-as-roblox-airbnb-lead-gains-inflation-concerns-loom\/","title":{"rendered":"US Stocks Edge Higher as Roblox, Airbnb Lead Gains; Inflation Concerns Loom"},"content":{"rendered":"

U.S. stocks edged higher on Wednesday, February 15, with major equities indexes turning positive at the end of the trading session.[0]<\/a><\/sup> The Dow Jones Industrial Average gained 0.1%, and the S&P 500 rose 0.3%.[1]<\/a><\/sup> The Nasdaq composite increased by 0.9%, and the Russell 2000 (a small-cap index) rose by 1%.[2]<\/a><\/sup><\/p>\n

Bond trading saw yields increase slightly.[3]<\/a><\/sup> US10Y rose 5 basis points to 3.81%, and US2Y increased 1 basis point to 4.63%.[3]<\/a><\/sup><\/p>\n

Roblox (RBLX) saw a spike in activity among investors when the video game platform released higher-than-anticipated booking figures for the fourth quarter.[1]<\/a><\/sup> The stock gapped above the 41.68 buy point of a cup-with-handle base.[4]<\/a><\/sup> Meanwhile, Airbnb (ABNB) jumped 13.4% after the company reported better-than-expected Q4 sales and earnings and its first annual profit late Tuesday.[5]<\/a><\/sup><\/p>\n

Devon Energy (DVN), an oil and natural gas producer, experienced a 10.5% decline in stock price in a high[4]<\/a><\/sup> Q4 adjusted EPS and sales numbers were reported to be worse than anticipated by the company.[4]<\/a><\/sup> Today, the S&P 500’s biggest decliner was the stock.[4]<\/a><\/sup><\/p>\n

Gains of over 1% were seen in the Communication Services and Consumer Discretionary sectors, leading the way amongst the 11 S&P sectors that posted advances.[6]<\/a><\/sup> The Energy sector saw a drop of 1.8%, while Health Care experienced a slight decrease.[3]<\/a><\/sup><\/p>\n

The consumer price index on Tuesday being higher than anticipated, in conjunction with the strong economic data, implies the Federal Reserve may need to keep up its stringent policy for longer than initially projected in order to regulate inflation. Conversely, if the economy is able to cope with increased interest rates, it may be possible to bypass a severe economic downturn.[3]<\/a><\/sup><\/p>\n

However, the robust purchasing may exacerbate inflation, which a report earlier this week disclosed is not abating as much as anticipated.[5]<\/a><\/sup> The Federal Reserve may need to remain more assertive in maintaining high interest rates should inflation increase.<\/p>\n

After Tuesday’s inflation data were slightly higher than anticipated, Deutsche Bank economists revised their prediction on how much the Fed’s primary overnight interest rate will increase.[5]<\/a><\/sup> Their most recent prediction sees the number increasing to 5.6%, up from the previous expectation of 5.1%.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Markets Reverse Earlier Losses and Finish Higher” Investopedia, 15 Feb. 2023, https:\/\/www.investopedia.com\/markets-reverse-earlier-losses-and-finish-higher-7110344<\/a><\/a><\/p>\n

1. <\/span>“S&P 500 cuts losses as easing Treasury yields lift tech By Investing.com” Investing.com, 15 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/sp-500-cuts-losses-as-easing-treasury-yields-lift-tech-3004549<\/a><\/a><\/p>\n

2. <\/span>“Stock Market Closed Mixed; Nasdaq Broke Its Winning Streak” Investor’s Business Daily, 10 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-on-track-for-a-down-week-medical-device-stock-shines<\/a><\/a><\/p>\n

3. <\/span>“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<\/a><\/a><\/p>\n

4. <\/span>“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\/<\/a><\/a><\/p>\n

5. <\/span>“Stocks tick higher as hopes on economy joust rate fears” The Washington Post, 15 Feb. 2023, https:\/\/www.washingtonpost.com\/business\/asian-stocks-fall-after-us-inflation-feeds-rate-hike-fears\/2023\/02\/15\/f692ab30-acf4-11ed-b0ba-9f4244c6e5da_story.html<\/a><\/a><\/p>\n

6. <\/span>“Strong retail sales buoy Wall Street with tech leading gains. Crypto pops” CMC Markets, 15 Feb. 2023, https:\/\/www.cmcmarkets.com\/en\/news-and-analysis\/strong-retail-sales-buoy-wall-street-with-tech-leading-gains-crypto-pops<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. stocks edged higher on Wednesday, February 15, with major equities indexes turning positive at the end of the trading session.[0]<\/a><\/sup> The Dow Jones Industrial Average gained 0.1%, and the S&P 500 rose 0.3%.[1]<\/a><\/sup> The Nasdaq composite increased by 0.9%, and the Russell 2000 (a small-cap index) rose by 1%.[2]<\/a><\/sup><\/p>\n

Bond trading saw yields increase slightly.[3]<\/a><\/sup> US10Y rose 5 basis points to 3.81%, and US2Y increased 1 basis point to 4.63%.[3]<\/a><\/sup><\/p>\n

Roblox (RBLX) saw a spike in activity among investors when the video game platform released higher-than-anticipated booking figures for the fourth quarter.[1]<\/a><\/sup> The stock gapped above the 41.68 buy point of a cup-with-handle base.[4]<\/a><\/sup> Meanwhile, Airbnb (ABNB) jumped 13.4% after the company reported better-than-expected Q4 sales and earnings and its first annual profit late Tuesday.[5]<\/a><\/sup><\/p>\n

Devon Energy (DVN), an oil and natural gas producer, experienced a 10.5% decline in stock price in a high[4]<\/a><\/sup> Q4 adjusted EPS and sales numbers were reported to be worse than anticipated by the company.[4]<\/a><\/sup> Today, the S&P 500’s biggest decliner was the stock.[4]<\/a><\/sup><\/p>\n

Gains of over 1% were seen in the Communication Services and Consumer Discretionary sectors, leading the way amongst the 11 S&P sectors that posted advances.[6]<\/a><\/sup> The Energy sector saw a drop of 1.8%, while Health Care experienced a slight decrease.[3]<\/a><\/sup><\/p>\n

The consumer price index on Tuesday being higher than anticipated, in conjunction with the strong economic data, implies the Federal Reserve may need to keep up its stringent policy for longer than initially projected in order to regulate inflation. Conversely, if the economy is able to cope with increased interest rates, it may be possible to bypass a severe economic downturn.[3]<\/a><\/sup><\/p>\n

However, the robust purchasing may exacerbate inflation, which a report earlier this week disclosed is not abating as much as anticipated.[5]<\/a><\/sup> The Federal Reserve may need to remain more assertive in maintaining high interest rates should inflation increase.<\/p>\n

After Tuesday’s inflation data were slightly higher than anticipated, Deutsche Bank economists revised their prediction on how much the Fed’s primary overnight interest rate will increase.[5]<\/a><\/sup> Their most recent prediction sees the number increasing to 5.6%, up from the previous expectation of 5.1%.[5]<\/a><\/sup><\/p>\n

0. <\/span>“Markets Reverse Earlier Losses and Finish Higher” Investopedia, 15 Feb. 2023, https:\/\/www.investopedia.com\/markets-reverse-earlier-losses-and-finish-higher-7110344<\/a><\/a><\/p>\n

1. <\/span>“S&P 500 cuts losses as easing Treasury yields lift tech By Investing.com” Investing.com, 15 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/sp-500-cuts-losses-as-easing-treasury-yields-lift-tech-3004549<\/a><\/a><\/p>\n

2. <\/span>“Stock Market Closed Mixed; Nasdaq Broke Its Winning Streak” Investor’s Business Daily, 10 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-on-track-for-a-down-week-medical-device-stock-shines<\/a><\/a><\/p>\n

3. <\/span>“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<\/a><\/a><\/p>\n

4. <\/span>“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\/<\/a><\/a><\/p>\n

5. <\/span>“Stocks tick higher as hopes on economy joust rate fears” The Washington Post, 15 Feb. 2023, https:\/\/www.washingtonpost.com\/business\/asian-stocks-fall-after-us-inflation-feeds-rate-hike-fears\/2023\/02\/15\/f692ab30-acf4-11ed-b0ba-9f4244c6e5da_story.html<\/a><\/a><\/p>\n

6. <\/span>“Strong retail sales buoy Wall Street with tech leading gains. Crypto pops” CMC Markets, 15 Feb. 2023, https:\/\/www.cmcmarkets.com\/en\/news-and-analysis\/strong-retail-sales-buoy-wall-street-with-tech-leading-gains-crypto-pops<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":930,"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\/931"}],"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=931"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/930"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}