Nasdaq Secures Fifth-Straight Weekly Win

Big Tech earnings and unemployment data made for a volatile session

Deputy Editor
Feb 3, 2023 at 4:29 PM
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A strong jobs report once more sparked fears that the Federal Reserve may continue hiking interest rates. The anxiety sent the broader market lower for the day, though the Nasdaq and S& 500 Index both logged strong weekly wins -- the former its fifth straight thanks to an upbeat round of Big Tech earnings. The Dow, meanwhile, closed the week with a marginal loss.

Continue reading for more on today's market, including:

  • 'FAANG' stocks to buy and sell this month.
  • How did options traders play the Big Tech earnings reports today?
  • Plus, the best and worst stocks to own in February; revisiting the January Barometer.

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5 Things to Know Today 

  1. Southwest Airlines' (LUV) COO will answer a Senate panel's questions next Thursday, after the company's catastrophic holiday meltdown. (CNBC)
  2. Here's what to expect after public-health emergencies addressing Covid-19 end on May. (MarketWatch
  3. The 25 best stocks to own this month.
  4. Avoid this beverage stock in February.
  5. Catching up on the January Barometer.

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Gold, Oil Turn in Weekly Losses

Oil futures slid once again Friday, and logged a modest weekly loss. For the session, March-dated crude fell $2.49, or 3.3%, to settle at $73.39 per barrel, and turned in a 7.9% loss on the week.

Gold prices breached the psychologically significant 1,900 level Friday, after a better-than-expected monthly jobs report boosted Treasury yields and strengthened the U.S. dollar. April-dated gold lost $54.20, or 2.8%, to settle at $1,876.60 per ounce for the day -- their lowest level since Jan. 10. On the week, the safe-haven asset lost 2.7%.


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