Volatile Week Marked by Major Milestone

Earnings season is in full swing

Deputy Editor
Feb 9, 2024 at 12:38 PM
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Treasury yields were the talk of the town on Wall Street this week, with the bond market running wild amid concerns regarding the Federal Reserve's rate-cut plans. Rising oil prices and data regarding U.S. credit card debt were also in focus. The S&P 500 Index (SPX) hovered near the psychologically significant 5,000 level for most of the week, the Dow Jones Industrial Average (DJI) succumbed to an inflation update, and the Nasdaq Composite Index (IXIC) brushed off the said higher Treasury yields

A Few of this Week's Biggest Earnings Reports

Investors had a swath of earnings reports to digest this week. Blue-chip component Walt Disney (DIS) announced big plans for the future, while pharmaceutical giant CVS Health (CVS) fell after a disappointing 2024 forecast. Semiconductor stock and Wall Street newbie Arm (ARM) hit record highs after an upbeat fourth-quarter report; Uber Technologies (UBER) recorded top-and bottom-line wins; analysts blasted Wynn Resorts (WYNN) after earnings; and retail trader favorite Palantir Technologies (PLTR) announced a surprise quarterly beat.

Jam-Packed Week Just Around the Bend

Looking ahead, investors are awaiting a fresh batch of inflation data, as well as retail sales readings that could hint at the current health of the economy. In addition, the earnings slate is absolutely jam-packed, with reports from Cisco Systems (CSCO), Coca-Cola (KO), and MGM Resorts (MGM) on tap among others. In the meantime, here's how to play Wall Street's recent psychological milestones, and important SPX points to keep an eye out for.


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