From Nasdaq:

The S&P 500 index is set to record its fourth consecutive week of gains, with 13 positive weeks out of the last 14. This has been fueled by strong tech earnings and better-than-expected labor market strength in January.

The S&P 500 reached record highs with major tech companies such as Meta Platforms and Amazon showing remarkable earnings results. The Magnificent Seven’s combined market value has surpassed $12.9 trillion, more than the GDP of economies such as Germany, Japan, and India. The January jobs report exceeded expectations with 353,000 payrolls added.

Bond prices fell as yields surged. Major U.S. stock averages also saw gains, with the Nasdaq 100 up 1.7%, the S&P 500 up 1.0%, the Dow Jones up 0.2%, and the Russell 2000 down 1.0%. Sector winners included Communication Service and Consumer Discretionary, while Real Estate and Utilities saw decreases.

Notable stock movers included Deckers Outdoor Corporation, Charter Communications, Inc., Saia, Inc., The Cigna Group, Gen Digital Inc., Royal Caribbean Cruises Ltd., and Clorox Company, all experiencing significant shifts following earnings reports.

Stocks rallied on the back of strong tech earnings and a robust labor market, with major tech companies leading the charge. Meta Platforms and Amazon saw significant stock price increases, and the January jobs report exceeded expectations, indicating a strong economy and consumer spending outlook. Bond prices fell as yields rose, and major stock indexes all saw significant gains.

Stocks in the tech and consumer discretionary sectors led market gains, while real estate and utilities experienced declines. Notable stock movers included Deckers Outdoor Corporation, Charter Communications, Saia, The Cigna Group, Gen Digital, Royal Caribbean Cruises, and Clorox Company, which all experienced significant price shifts following earnings reports.



Read more: Stocks Notch 4th Straight Positive Week Driven By Tech, Meta Shines, Bonds Tank On Hot Jobs Data: What’s Driving Markets Friday?