Market Recap – February 4th 💰

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Market Recap – February 4th

Stocks recovered some of their initial losses on Friday afternoon, with all three major indices posting a second week of gains in a row, after investors reacted to a stronger-than-expected jobs report. The strong employment data underpinned investors’ expectations for an aggressive round of rate hikes by the Federal Reserve. Hiring was considerably stronger than expected, as the US added 467,000 jobs in January.

Last week’s market movements were controlled by mega cap growth stock earnings results.

After posting strong Q4 earnings, Amazon (#amzn) soared 13.5%, making its roughly $190 billion increase in market capitalization the largest single-day increase in value in the history of the United States. This comes a day after Meta’s (#fb) disappointing earnings rattled markets and knocked $237 billion off its valuation, the largest ever single-day loss of stock market value by a U.S. firm.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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