Wealth Daily 10 February 2022




WEALTH DAILY 2022-02-10
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US equities advanced on Wed. The Dow Jones Industrial Average gained 305.28 pts, or 0.86%, higher to close at 35,768.06. The S&P 500 index rose 1.45%. The tech-heavy Nasdaq Composite advanced 2.08%. The small cap Russell 2000 gained 1.86%. 


Shares of Facebook-parent Meta Platforms (FB US, +5.37%) rose after a fourday slide wiped about a third off its market value.  Walt Disney (DIS US, +3.33%) gained 6.8% in after-hours trade on Wed. The “House of Mouse” is firing on all cylinders. People returning to its theme parks. Viewers of the flagship streaming service Disney+ jumped 11.8m to 129.8m. It was not expected to reach that size until the end of this quarter. 


The cloud has been good for companies this reporting season. Amazon (AMZN US, -0.1%) and Microsoft (MSFT US, +2.2%), both benefitted from growth in their cloud services divisions. What happens when a pure cloud software company reports? They knock it out of the park! Twilio (TWLO US, +1.8%) shares are up 29% in extended-hours trade after reporting strong earnings. 


Solar stocks were at their highest in nearly three weeks on Wed after Enphase Energy’s (ENPH US, +12.03%) blockbuster results and strong forecast suggested a deft navigation of the supply-chain crisis. 


The 10-year Treasury note yield slipped 2.17 basis points (bps) to 1.9415%.  The most actively traded US gold futures (Apr) contracts settled up $8.70, or 0.5%, at US$1,836.60/oz. March silver, which is the most actively traded silver futures, rose 14.1 cents, or 0.6%, to end at US$23.341/oz. 


The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, fell 0.16% to 95.494. 


The front-month Brent and WTI futures closed up 77 cents at US$91.55/bbl and 30 cents at US$89.66/bbl respectively. 


European equity markets finished higher on Wed. The UK FTSE gained 1.01%, France's CAC 40 rose 1.46%, while the German DAX advanced 1.57%.