Global Market Trends (7th Feb., 2022)

The Dow Jones Industrial Average ended with little changed, while the S&P 500 and Nasdaq Composite rose 0.5% and 1.5%, respectively. For the week, all three of the major averages posted gains. 

Treasury yield, the yield on the 10-year Treasury rose to 1.93%, the highest since December 2019, lifting big banks higher. 

Commodities, Oil tacked on 5.5% for the week, closing at $92.21 per barrel, a seven-year-high. 

Earnings, Amazon shares rose after strong quarterly results. Wall Street had expected EPS of $3.44, but the retailer delivered a staggering $27.75. The stock registered its best day since October 2017. 

Higher inflation is behind a price hike for monthly Prime memberships, which will go from $12.99 to $14.99, and annual memberships will be hiked to $139 from the current $119. The price change will go into effect for new members starting Feb. 18, and existing members will see their fees go up on the date of their next renewal after March 25.

Facebook shares inched higher after the 26.4% wipeout, which erased more than $230 billion in market value, easily the biggest one-day loss in history for a U.S. company. The stocks of other social media companies, including Twitter and Snap, also fell.

Cryptocurrencies, Bitcoin bounced higher, crossing the $40,000 level. 

SPOT MARKET  BY THE HOUR AS OF GMT 10:02  02-07-22