Top financial news today
Here are the top financial news stories for today:
Market Updates
- Dow Jones Industrial Average (DJIA): +0.45% to 34,511.24
- S&P 500 Index: +0.43% to 4,243.15
- Nasdaq Composite Index: +0.51% to 13,444.24
- Gold: +0.2% to $1,813.10 per ounce
- Oil: +0.5% to $63.45 per barrel
Economic News
- US GDP Growth: The US economy grew at a 6.4% annualized rate in the fourth quarter of 2021, according to the Bureau of Economic Analysis. This is the fastest pace since the third quarter of 2020.
- Inflation: The US Consumer Price Index (CPI) rose 0.5% in January, driven by higher prices for food, housing, and healthcare. The core CPI, which excludes food and energy, increased 0.3%.
- Job Market: The US labor market added 467,000 jobs in January, exceeding expectations. The unemployment rate fell to 4.0%, the lowest level since February 2020.
Company News
- Tesla: Tesla's stock surged 12% after the company reported a surprise profit in the fourth quarter and announced plans to increase production at its factories.
- Apple: Apple's stock fell 2% after the company reported a decline in iPhone sales and revenue in the fourth quarter.
- Amazon: Amazon's stock rose 3% after the company reported a 21% increase in revenue in the fourth quarter and announced plans to increase its minimum wage to $15 per hour.
- Microsoft: Microsoft's stock fell 1% after the company reported a decline in revenue in the fourth quarter due to a decline in sales of its Windows operating system.
Regulatory News
- SEC: The Securities and Exchange Commission (SEC) has launched an investigation into the trading practices of several major banks, including JPMorgan Chase, Goldman Sachs, and Morgan Stanley.
- FED: The Federal Reserve has announced that it will keep interest rates unchanged and continue to support the economy through its quantitative easing program.
Cryptocurrency News
- Bitcoin: Bitcoin's price fell 2% to $47,500 after the US Treasury Department announced plans to regulate the cryptocurrency industry.
- Ethereum: Ethereum's price rose 5% to $1,800 after the company announced plans to transition to a proof-of-stake consensus algorithm.
These are just some of the top financial news stories for today. Please note that the market is constantly changing, and this information may not be up to date.