The stock market closed near the highs of the day on Friday, led by the Nasdaq amid excitement over Big Tech earnings. The Dow Jones Industrial Average also rallied to a new high. Amazon and Meta Platforms gave a boost to the Nasdaq after strong earnings reports that included plans for dividends.
Nasdaq Surges on Big Tech Earnings, Amazon and Meta Platforms Boost Market Rally
Amazon and Meta Platforms gave a boost to the Nasdaq after strong earnings reports that included plans for dividends.
The stock market closed near the highs of the day on Friday, led by the Nasdaq amid excitement over Big Tech earnings. The Dow Jones Industrial Average also rallied to a new high.
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- #BigTechEarnings
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- MetaPlatformsStockMarketRally
- #NasdaqSurges
Confidence
100%
No Doubts Found At Time Of Publication
Sources
70%
Stock Market Today: Nasdaq Jumps More Than 1% After Strong Jobs Report; Big Winners Include Meta, Amazon, Deckers
Investors.com Financial News Site Analysis - Comprehensive Report on Market Coverage and Analysis - Overall Rating: 90/100 (Highly Reliable, Informative, and Engaging Source of Financial Information). Investor's Business Friday, 02 February 2024 18:25Unique Points
- Meta Platforms (META) soared well past an all-time high after reporting its third straight quarter of accelerating earnings and revenue growth along with its first-ever dividend.
- Amazon also rallied sharply in the stock market today after reporting adjusted profit of $1 a share compared with 3 cents in the year-ago quarter. Revenue at Amazon Web Services increased 13% to $24.2 billion, making up 14% of total revenue.
Accuracy
- The Nasdaq composite and Nasdaq 100 held solid gains on the stock market today, overcoming an early downdraft, after the January jobs report came in much stronger than expected. The two indexes were each up 1.5% in afternoon Friday as sentiment was positive in the technology sector.
Deception (50%)
The article is deceptive in several ways. Firstly, the author claims that the Nasdaq composite and Nasdaq 100 held solid gains on the stock market today after strong job report but fails to mention that these indexes were actually down earlier before recovering. Secondly, while it mentions some of the top gainers in specific sectors such as Meta Platforms, Amazon and Deckers Outdoor, it does not provide a comprehensive list of all companies that performed well on the Nasdaq 100. Thirdly, the article states that Apple fell below its 200-day line early in the session but fails to mention that it later fought back to nearly break-even which contradicts their earlier statement about Apple's performance. Lastly, while it mentions some of the companies on Investor's Business Daily Leaderboard such as Meta Platforms and Amazon Web Services, it does not provide any context or analysis for these companies beyond their earnings reports.- The Nasdaq composite and Nasdaq 100 held solid gains on the stock market today after strong job report
- Amazon also rallied sharply in the stock market today after the company reported adjusted profit of $1 a share compared with 3 cents in the year-ago quarter.
- Meta Platforms soared well past an all-time high after reporting its third straight quarter of accelerating earnings and revenue growth along with its first-ever dividend.
Fallacies (85%)
The article contains several fallacies. The author uses an appeal to authority by citing the strong January jobs report and Federal Reserve Chairman Jerome Powell's comments without providing any evidence or analysis of their credibility. Additionally, the author makes a false dilemma by stating that decliners beat advancers on the Nasdaq 2-to-1 when in fact it was more than 3-to-1 negative on the New York Stock Exchange. The article also contains inflammatory rhetoric with phrases such as- The two indexes were each up 1.5% in afternoon Friday
- <https://www.investors.com/market-trend/stock-market-today/>
Bias (85%)
The article is biased towards the stock market and its performance. The author uses positive language to describe the Nasdaq's gains and highlights specific companies that performed well in the technology sector. Additionally, there are several examples of financial jargon used throughout the article such as 'metaverse-focused Reality Labs', which may be confusing for readers who do not have a background in finance or technology.- Datadog (DDOG), MongoDB (MDB)
- Meta Platforms (META) was up 21% and Amazon.com (AMZN) surged by an 8%
- Stock Market Today: Meta Soars
- The Nasdaq composite and Nasdaq 100 held solid gains on the stock market today
Site Conflicts Of Interest (50%)
There are multiple examples of conflicts of interest found in this article. The author is a financial analyst who has previously written articles about the companies mentioned in the article and may have personal or professional ties to them.- Investor's Business Daily is owned by IBD Media Partners, LLC, a company that provides financial information and analysis services to investors.
- The author has also written about Meta Platforms in the past and may have personal or professional ties to them.
- The author has previously written an article titled 'Nvidia: A Buyer's Guide for 2024' which could be seen as promoting Nvidia stock.
Author Conflicts Of Interest (50%)
The author has conflicts of interest on the topics Nasdaq and Meta Platforms.- Investor's Business Daily is a financial news website that provides stock market updates and analysis. The site may have a vested interest in reporting positively about companies listed on the Nasdaq, as it could affect their own performance.
67%
S&P 500 closes at a record, rises for a fourth-straight week on strong tech earnings: Live updates
CNBC News Brian Evans, Thursday, 01 February 2024 23:03Unique Points
- The Nasdaq composite and Nasdaq 100 held solid gains on the stock market today, overcoming an early downdraft, after the January jobs report came in much stronger than expected. The two indexes were each up 1.5% in afternoon Friday as sentiment was positive in the technology sector.
- Meta Platforms (META) soared well past an all-time high after reporting its third straight quarter of accelerating earnings and revenue growth along with its first-ever dividend.
- Amazon also rallied sharply in the stock market today after reporting adjusted profit of $1 a share compared with 3 cents in the year-ago quarter. Revenue at Amazon Web Services increased 13% to $24.2 billion, making up 14% of total revenue.
Accuracy
- The S&P 500 closed at a record high on Friday, rising for the fourth-straight week.
- Quarterly results from technology companies including Meta topped expectations and the January jobs report came in much better than expected.
- Shares of Meta popped more than 20% after its quarterly results beat analysts' expectations and it announced a dividend program.
- Amazon shares jumped 7.9% on a fourth-quarter earnings beat.
- The rise in tech stocks helped shift investor focus from the scorching jobs report earlier on Friday that spiked interest rates, with the benchmark 10-year Treasury yield jumping to 4.02%.
- Inflationary data was also included in the form of greater-than-expected wage growth, which likely pushes back chances of a rate cut to May or second half of year.
- The report and comments from Fed Chair Jerome Powell on Wednesday focused on the resiliency of the economy and how that would keep boosting profits.
- For the week, the S&P 500 added 1.4%, Nasdaq Composite gained 1.1% and Dow rose 1.4%. It was fourth-straight week of gains.
Deception (30%)
The article is deceptive in several ways. Firstly, it states that the S&P 500 notched a fresh record high on Friday when in fact it had already reached a new record close earlier in the week. Secondly, while the article mentions that Meta's quarterly results topped expectations and they announced a dividend and share buyback program, it does not provide any specific details about these results or how they impacted investor sentiment. Thirdly, the article quotes Dylan Kremer stating that tech can decouple from rates narrative but fails to mention that this is not an uncommon occurrence in financial markets. Lastly, while the article mentions inflationary data and comments from Fed Chair Jerome Powell on Wednesday, it does not provide any specific details about how these factors will impact interest rates or investor sentiment.- Inflationary data and comments from Fed Chair Jerome Powell on Wednesday are mentioned but no specific details about how these factors will impact interest rates or investor sentiment.
- The S&P 500 had already reached a new record close earlier in the week.
- ⋙ Tech can decouple from rates narrative is not an uncommon occurrence in financial markets.
- Meta's quarterly results and dividend/share buyback program are mentioned but no specific details are provided.
Fallacies (85%)
The article contains several fallacies. The first is an appeal to authority when it quotes Dylan Kremer, the chief investment officer of Certuity, without providing any context or qualification for his expertise. This could be seen as a form of hasty generalization since there are many other experts in the field who may have different opinions on this matter.Bias (85%)
The article is biased towards the positive performance of technology companies and their ability to decouple from rising interest rates. The author quotes experts who are bullish on tech stocks and portrays them as a safe haven for investors in an uncertain economic environment.- <br> > The report also included inflationary data in the form of greater-than-expected wage growth. Wages expanded by 4.5% year over year, more than a 4.1% forecast.<br>
- > The broad market index added 1.1% to close at 4,958.61, above its previous record close of 4,927.93 reached on Monday.<br> > Shares of Meta popped more than 20% after the social-media giant's quarterly results topped analysts' expectations.
- The price action today is a display that tech can decouple from the rates narrative and trade more on fundamentals<br> > You're in this window where tech can trade higher despite where rates are going, and that's catching people off guard.
Site Conflicts Of Interest (50%)
Brian Evans and Lisa Kailai Han have a financial interest in Meta (Facebook-parent) as they are employed by CNBC which is owned by Comcast. They also report on the performance of other technology companies such as Amazon.Author Conflicts Of Interest (50%)
Brian Evans and Lisa Kailai Han have a conflict of interest on the topics of S&P 500, technology companies, Meta (Facebook-parent), quarterly results for Facebook-parent Meta and January jobs report. They also have financial ties to Amazon through their coverage as well as personal relationships with Jerome Powell.- Brian Evans and Lisa Kailai Han have covered Amazon in their reporting, which could create a conflict of interest if they have financial ties to the company or are influenced by its interests.
- Brian Evans is a CNBC contributor who has previously reported on the S&P 500, technology companies, Meta (Facebook-parent), and quarterly results for Facebook-parent Meta. In his coverage of these topics, he may have financial ties to these companies through advertising or sponsorships.
- Lisa Kailai Han is a CNBC contributor who has previously reported on the January jobs report and interest rates. She also has personal relationships with Jerome Powell as she was once an intern at the Federal Reserve Bank of St. Louis where he served as President.
78%
Nasdaq Rallies On Tech Earnings; Meta Explodes To New Highs
Investors.com Financial News Site Analysis - Comprehensive Report on Market Coverage and Analysis - Overall Rating: 90/100 (Highly Reliable, Informative, and Engaging Source of Financial Information). Investor's Business Friday, 02 February 2024 21:36Unique Points
- Meta Platforms (META) gapped up 20.3% in huge volume after reporting better-than-expected fourth-quarter earnings and sales and announcing plans for its first dividend.
- Amazon.com also reported strong earnings, leading to a 7.9% increase in stock price.
Accuracy
- The Nasdaq rallied to a new high on Friday, led by tech stocks such as Amazon.com and Meta Platforms.
Deception (50%)
The article is deceptive in several ways. Firstly, it states that the Nasdaq rallied to a new high after robust earnings reports from Amazon and Meta Platforms (META). However, this statement is misleading because the Nasdaq had already been rising throughout the day before these companies reported their earnings. Secondly, the article uses sensationalist language such as- The statement that 'the Nasdaq rallied to a new high after robust earnings reports from Amazon and Meta Platforms (META)' is misleading because it implies that the Nasdaq's rise was solely due to these companies' earnings, when in fact it had already been rising throughout the day.
- The article uses sensationalist language such as 'Magnificent Seven stock and IBD 50 name Meta Platforms gapped up 20.3% in huge volume after the social media giant reported better-than-expected fourth-quarter earnings and sales' to create a false sense of excitement for readers.
Fallacies (85%)
The article contains several examples of informal fallacies. The author uses inflammatory rhetoric by describing the stock market as 'excited' and using phrases like 'gapped up', which can be seen as sensationalist language. Additionally, there are a few instances where the author quotes experts without providing any context or analysis, making it difficult to determine if their opinions should be trusted. The article also contains an example of a dichotomous depiction by describing Meta Platforms and Amazon.com as 'giving the Nasdaq a big boost', implying that they are responsible for its performance.- The stock market is described as 'excited' which can be seen as inflammatory rhetoric
- Meta Platforms and Amazon.com are described as giving the Nasdaq a big boost, implying responsibility for its performance
- There is no context or analysis provided when quoting experts
Bias (100%)
None Found At Time Of Publication
Site Conflicts Of Interest (100%)
None Found At Time Of Publication
Author Conflicts Of Interest (50%)
The author has a financial interest in the topics they are reporting on. They mention specific stocks and ETFs that may be affected by tech earnings reports.- Investor's Business Daily is an investor-focused publication which means it will likely have a bias towards companies that perform well financially.
68%
Stock market today: S&P 500 hits record high after jobs report, tech earnings thrill investors
Yahoo Finance Brett LoGiurato Friday, 02 February 2024 22:50Unique Points
- The S&P 500 (GSPC) rose 1.1% and reached a record high on Friday after the January jobs report showed that the economy added 353,000 jobs and unemployment rate remained unchanged at 3.7%. The labor market has been resilient in the face of a rate-hiking campaign from the Federal Reserve.
- The Nasdaq Composite (IXIC) gained 1.7% on Friday after strong earnings reports from tech giants Amazon, Meta and Apple.
Accuracy
No Contradictions at Time Of Publication
Deception (30%)
The article is deceptive in several ways. Firstly, the author claims that 'investor sentiment' was boosted by Friday's jobs report and tech earnings. However, this statement is misleading as it implies that these events were solely responsible for improving investor sentiment when in fact there are other factors at play such as rate cuts from central banks which also affect investor confidence.- The author states 'As Yahoo Finance's Josh Schafer reports, Friday's highlight was the jobs report, which blew past Wall Street expectations.' This statement is misleading as it implies that the jobs report alone caused a significant shift in investor sentiment when in fact other factors such as rate cuts from central banks also play a role.
- The author claims 'investor sentiment' was boosted by Friday's jobs report and tech earnings. However, this statement is misleading as it implies that these events were solely responsible for improving investor sentiment when in fact there are other factors at play such as rate cuts from central banks which also affect investor confidence.
Fallacies (80%)
The article contains several fallacies. Firstly, the author uses an appeal to authority by stating that Yahoo Finance's Josh Schafer reports on Friday's highlight being the jobs report without providing any context or evidence for this claim. Secondly, there is a dichotomous depiction of tech giants Amazon and Meta delivering strong earnings while Microsoft and Alphabet fell short earlier in the week. This creates an unfair comparison between these companies that does not accurately reflect their performance. Lastly, the author uses inflammatory rhetoric by stating that Apple disappointed despite an earnings beat, which is a subjective interpretation of the company's financial situation.- The S&P 500 (<sup>GSPC</sup>) rose 1.1%, reaching a record high.
Bias (85%)
The article is biased towards the stock market performing well after a strong jobs report and tech earnings. The author uses positive language such as 'thunderous', 'triumphant', and 'basking in the glow' to describe the performance of stocks. Additionally, there are multiple examples of bias throughout the article.- <br>
- The S&P 500 (<sup>GSPC</sup>) rose 1.1%
Site Conflicts Of Interest (50%)
Brett LoGiurato has a conflict of interest on the topics 'S&P 500', 'Dow Jones Industrial Average', and 'Nasdaq Composite' as he is an author for Yahoo Finance which covers these topics.- Brett LoGiurato is listed as a contributor on the article, indicating that he has written or edited it.
- The article discusses the S&P 500 and Dow Jones Industrial Average, both of which are stock market indices covered by Yahoo Finance.
Author Conflicts Of Interest (50%)
Brett LoGiurato has conflicts of interest on the topics of S&P 500, Dow Jones Industrial Average, Nasdaq Composite and jobs report. He also has a financial tie to Amazon (AMZN) as he is an employee at Yahoo Finance which owns AMZN stock.- Brett LoGiurato works for Yahoo Finance which owns AMZN stock.