Key Takeaways
- U.S. equities were down at midday as fewer jobs than expected were created in January, and another survey showed weakness in consumer sentiment.
- Amazon warned about the negative impact of foreign currency exchange rates.
- Expedia brought back its dividend after a strong holiday-quarter performance.
U.S. equities fell at midday as the January employment report showed fewer jobs were created than economists expected, and another survey showed weakness in consumer sentiment. The Dow Jones Industrial Average, S&P 500, and Nasdaq all declined.
Amazon (AMZN) shares slumped when the giant online retailer gave weaker-than-anticipated guidance as it warned of negative impacts of foreign exchange rates.
Shares of Nike (NKE) slid after the sports apparel maker was downgraded by Citi, which questioned the likely success of its turnaround plans.
Shares of D.R. Horton (DHI) and rival homebuilders dropped as new fears of inflation drove up Treasury yields, raising concerns of higher mortgage rates.
Expedia Group (EXPE) was the best-performing stock in the S&P 500, with shares trading at a record high, when the travel website posted better-than-expected results and reintroduced its quarterly dividend on solid bookings during the holiday quarter.
Shares of Affirm Holdings (AFRM) rose after the provider of buy now, pay later (BNPL) loans reported a surprise profit on a jump in its customer base.
Take-Two Interactive Software (TTWO) shares took off when the video-game maker posted a lower-than-anticipated loss and affirmed its plans to launch the highly anticipated “Grand Theft Auto VI” game this fall.
Oil and gold futures advanced. The U.S. dollar gained on the euro and pound, but lost ground to the yen. Prices for most major cryptocurrencies rose.
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