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On Friday, stocks were choppy but ultimately ended the day on a positive note. The S&P 500 rose by 3 points (+0.05%) to reach 6,836, while the Nasdaq 100 increased by 45 points (+0.18%) to 24,732. The Dow also gained 48 points (+0.1%), closing at 49,500.
In terms of sector performance, Utilities (XLU), Real Estate (XLRE), and Health Care (XLV) were the standout sectors, while Financials (XLF), Communication Services (XLC), and Consumer Discretionary (XLY) lagged behind.
For the week overall, the S&P 500 declined by 1.39%, the Nasdaq 100 slid by 1.37%, and the Dow dropped by 1.23%. Utilities (XLU) emerged as the top sector for the week, while Financials (XLF) faced the greatest decline.
The U.S. stock market is scheduled to be closed on Monday, February 16, in observance of Presidents' Day, with regular trading set to resume on Tuesday, February 17.
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U.S. Economic Developments: |
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The inflation rate came in at 2.4% year over year in January, as expected. Meanwhile, the core inflation rate showed an increase of 2.5% year over year, also as expected.
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Applied Materials (AMAT) rose by 8.08% following quarterly financial results that exceeded expectations.
Coinbase (COIN) surged 16.46% on strong 2025 trading volume. Also, 2025 subscription and services revenue increased to 2.8 billion dollars from 2.3 billion dollars in 2024. Additionally, the stock saw positive trading on the back of positive trading of Bitcoin.
Rivian Automotive (RIVN) jumped 26.64% as its quarterly financial results surpassed forecasts. The company also projects vehicle deliveries of 62,000 to 67,000 for 2026, representing a year-over-year increase of 47% to 59%.
Arista Networks (ANET) climbed 4.79% based on encouraging sales guidance for the current quarter, along with fourth-quarter financial results that exceeded expectations.
Airbnb (ABNB) gained 4.65% due to strong sales guidance for the full year.
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At the European close, the major indices in the region mostly finished higher. Germany's DAX increased by 62 points (+0.25%) to 24,914, while the U.K.'s FTSE 100 rose by 43 points (+0.42%) to 10,446. In contrast, France's CAC 40 dropped by 28 points (-0.35%) to 8,311.
On the economic front, the Eurozone's fourth-quarter GDP growth was confirmed at 0.3% in the second reading, matching the pace of the third quarter.
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Global Macro, FX & Commodities: |
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Rates & Risk Sentiment:
On Friday, the VIX index fell by 0.22 points (-1.06%) to 20.6. Week to date, the VIX surged by 15.87%. Meanwhile, the U.S. 10-year yield decreased to 4.048%.
Precious Metals & Crude:
Precious metals experienced positive trading, with gold rising by $111.47 (+2.27%) to $5,031.16 and silver gaining $1.96 (+2.6%) to $77.12.
In contrast, WTI Crude Oil declined by $0.04 (-0.06%) to $62.80, following reports from Reuters that OPEC+ is considering restarting production increases as early as April.
The Dollar & Majors:
The dollar index fell 0.08 points (-0.08%) to 96.846.
EUR/USD rose 3 pips (+0.03%) to 1.1872.
GBP/USD advanced 29 pips (+0.21%) to 1.3649.
USD/JPY slid 7 pips (-0.05%) to 152.66.
USD/CHF slipped 13 pips (-0.17%) to 0.7677.
AUD/USD dropped 15 pips (-0.21%) to 0.7073.
USD/CAD climbed 11 pips (+0.08%) to 1.3618.
Digital Assets:
Cryptocurrencies made gains, with Bitcoin increasing by $3,049 (+4.63%) to $68,851, while Ethereum rose by $128 (+6.7%) to $2,051.
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