Thursday, February 20, 2020

U.S. Stocks rallied by Amazon, FB closed higher

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The Dow Jones Industrial Average slightly down 0.06% up by 15.19 points to 24,999.67. S&P 500 rose 0.86% jumped 23.07 points to 2,704.12, and Nasdaq rose 1.45% up by 98.93 points closed at 6,906.8.

 

S&P posted its best January since 1987. Stock investors were buoyed by the Fed’s urging for a more patient approach to monetary policy on Wednesday amid softer global growth and fragile financial markets.

 

Market participants are also watching trade developments after President Donald Trump tweeted that no trade agreement would be reached with China until longstanding issues were resolved.

 

In corporate news, shares of Facebook Inc. FB, +10.82% rose 11% after the social media firm reported record profit numbers.

 

Amazon.com Inc. AMZN, +2.89% reported record holiday-quarter earnings and revenue Thursday, but shares bounced between slight gains and losses as the company’s outlook for the current quarter came in below expectations.

 

The online retailer reported net income of $3 billion, or $6.04 a share, on revenue of $72.4 billion.

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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