Market Moovers | S&P 500 Cautiously Rises, Market Watches Powell
Investors closely watched Federal Reserve President Jerome Powell Tuesday as he remarks before the Senate Banking Committee, the first of a two-day stint before Senators and House Representatives. Fielding questions about mergers and monetary policy, Powell said there would likely be rate cuts this year, and that service inflation would have to come down.
Markets climbed cautiously while watching Powell after pulling back from yet another week's all-time high for the S&P and the Nasdaq.
The $Dow Jones Industrial Average (.DJI.US)$ climbed 0.36%, the $S&P 500 Index (.SPX.US)$ climbed 0.51%, and the $Nasdaq Composite Index (.IXIC.US)$ claimed 0.47%.
Moovers
$CrowdStrike (CRWD.US)$stock soared 14% following the cybersecurity firm's strong current-quarter guidance and better-than-anticipated results for the fourth quarter. CrowdStrike's earnings of 95 cents per share exceeded the 82 cents analysts polled by LSEG had predicted. The firm's $845 million in revenue was also higher than the estimated $839 million.
$JD.com (JD.US)$climbed 18% as the Chinese online retailer reported higher-than-expected fourth-quarter revenue and revealed plans to expand its share repurchase program.
$Coinbase (COIN.US)$stock climbed 5% after the cryptocurrency exchange saw gains from a surge in crypto enthusiasm, with bitcoin reaching a record high earlier in the session.
$Nordstrom (JWN.US)$stock fell 12% after the retailer issued disappointing full-year guidance, which overshadowed its better-than-expected results for the fourth quarter.
$Foot Locker (FL.US)$stock dropped 27% after the footwear retailer posted a loss for the holiday quarter and provided weak guidance for the current year.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
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