Dow rises 550 points with stock market recovery

Dow rises 550 points with stock market recovery

Ticker Security Last Change Change % IBM INTERNATIONAL BUSINESS MACHINES CORP. 139.97 +2.05 +1.49% In earnings, IBM revenue rose 3% over the prior quarter, the most in three years, amid strength in its cloud and consulting businesses. Both profit and revenue exceeded Wall Street estimates.  Halliburton Co. reported quarterly profit climbed 33% as a rebound in crude oil prices spurred demand for oilfield services. 

Virgin Galactic Holdings Inc. and other space-related names were in focus after Amazon founder Jeff Bezos became the second billionaire to leave Earth’s atmosphere. Bezos’ Blue Origin LLC is not publicly traded. Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 34511.99 +549.95 +1.62%SP500 S&P 500 4323.06 +64.57 +1.52%I:COMP NASDAQ COMPOSITE INDEX 14498.877927 +223.89 +1.57%

Ticker Security Last Change Change % SPCE VIRGIN GALACTIC HOLDINGS INC. 32.03 -0.37 -1.14%JETS ETF SERIES SOLUTIONS US GLOBAL JETS ETF 22.66 +1.09 +5.05%AMZN AMAZON.COM, INC. 3,573.19 +23.60 +0.66% The Dow Jones Industrial Average rose 550 points, or 1.62%, while the S&P 500 and the Nasdaq Composite advanced 1.52% and 1.57%, respectively. The strong gains came a day after the Dow lost 725 points, booking its worst day since October, as a resurgence of COVID-19 infections and ongoing inflation concerns rattled investors. 

In commodities, West Texas Intermediate crude oil gained $1 to $67.42 a barrel and gold advanced $2.20 to $1,810.90 an ounce. Overseas markets were mixed.  Ticker Security Last Change Change % NFLX NETFLIX, INC. 531.05 -1.23 -0.23%CMG CHIPOTLE MEXICAN GRILL, INC. 1,574.35 +23.19 +1.50%UAL UNITED AIRLINES HOLDINGS, INC. 46.32 +2.86 +6.58%

Netflix Inc., Chipotle Mexican Grill Inc. and United Airlines Holdings Inc. are all set to release their quarterly results after Tuesday’s closing bell.  Ticker Security Last Change Change % HAL HALLIBURTON CO. 20.07 +0.71 +3.67%

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