The results of Groundhog Day 2018 are in: According to legend, we’re in for six more weeks of winter because Punxsutawney Phil has seen his shadow. Bad news for those of us stuck in single digit temps.
The S&P 500 Index gained 5.62% last month, the best January since 1997.
A very solid employment report for January, at 4.1%, however the report did include a 200,000 gain in non-farm payrolls which was higher than Street estimates.
Consumer sentiment continued to edge back in the preliminary January index, to 94.4 in what was the softest showing in six months.
Today oil companies will lead earnings reports, with both Exxon Mobil Corp. and Chevron Corp. reporting before the bell.
- U.S. 30-year yield closed> 3% for first time since May 2017
- Financial sector (+1%) drafts behind yields, led by Banks (+1.4%)
- AMZN fell -4.2% ahead of earnings, but rebounded +5% post-close