Market Recap – February 7th
On Tuesday’s trading day, markets reinvigorated their surge from the previous weeks, with more dovish comments by Powell’s speech stirring the flame and leaving all three major indices with large gains. With persistent investor sentiment, the S&P 500 climbed 1.29%, the NASDAQ Composite went up 1.90%, and the Dow Jones just rose by 0.78%.
In accordance with the rally, shares of semiconductor company Skyworks Solutions saw gains of 12.5% after reporting earnings that beat analysts’ expectations. On the downside, the popular forum and Q&A platform Chegg plummeted, with its stock losing 17.1% following its weak revenue guidance for the year.
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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.