![]() ![]() stock futures fell following the release as the latest data defied investor optimism the Federal Reserve may pause its interest rate-hiking campaign in coming months. Friday's data shows that even with these moves, the U.S. The Federal Reserve has raised interest rates by 450 basis points, or 4.5%, since March 2022 in an effort to slow the economy and rein in inflation. The blowout figures come just as the employment picture began to show some signs of moderation, with monthly data on a downtrend in recent months before January's outlier report. The unemployment rate slipped to 3.4% in January, the lowest since 1969. To read this article on click here.Friday's shock numbers mark a sharp jump from the prior month, which saw payrolls rise by an upwardly revised 260,000. (ADP) : Free Stock Analysis ReportĪlphabet Inc. (AMD) : Free Stock Analysis ReportĪutomatic Data Processing, Inc. Click to get this free reportĪdvanced Micro Devices, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Moreover, employment in Trade, transportation and utilities, other services, manufacturing, health care and construction declined by 62,000, 23,000, 21,000, 15,000 and 10,000. Trade, transportation and utilities cut 62,000 jobs. The pandemic-sensitive leisure and hospitality industry cut 154,000 jobs. Mid-sized businesses declined 59,000 and large-sized businesses declined 98,000. Employment in small-sized businesses dropped 144,000. Service-providing industries cut 274,000 jobs while goods producers cut 27,000 jobs. A major reason for disappointing private sector payrolls data in January was the rapid spread of the Omicron variant of coronavirus. Moreover, December’s data was revised downward from 807,000 reported earlier to 776,000. ADP reported that private payrolls data dropped to 301,000 in January. Economic DataĪutomatic Data Processing Inc. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Advanced Micro Devices carries a Zacks Rank #2 (Buy). On a quarter-over-quarter basis, the top line grew 12%.Ĭonsequently, shares of Alphabet and Advanced Micro Devices rallied 7.5% and 5.1%, respectively. Revenues of $4.83 billion outpaced the Zacks Consensus Estimate by 6.69% and surged 49% year over year. The bottom line soared 77% year over year and 26% sequentially. AMD reported fourth-quarter 2021 non-GAAP earnings of $0.92 per share, which surpassed the Zacks Consensus Estimate by 22.67%. The figure rose 15.7% from the prior quarter.Īdvanced Micro Devices Inc. Revenues of $75.3 billion increased 32% year over year (33% at constant currency). The figure rose 37.6% year over year and 9.6% sequentially. Quarterly earnings of $30.69 per share surpassed the Zacks Consensus Estimate by 14.9%. GOOGL reported blockbuster earnings results. On Feb 1, after the closing bell, technology behemoth Alphabet Inc. Total fourth-quarter earnings of the market's benchmark - the S&P 500 Index - are projected to climb 25.6% from the same period last year on 14.1% higher revenues. Total earnings of these companies are up 31.9% year over year on 18% higher revenues with 79.4% beating EPS estimates and 78.5% surpassing revenue estimates. Q4 Earnings Drive MarketsĪs of Feb 2, 214 S&P 500 companies reported fourth-quarter 2021 results. The Nasdaq Composite posted 48 new 52-week highs and 67 new 52-week lows. The S&P 500 registered 27 new 52-week highs and two new 52-week low. A total of 11.06 billion shares were traded on Wednesday, lower than the last 20-session average of 12.43 billion. The fear-gauge CBOE Volatility Index (VIX) was up 0.6% to 22.09. ![]()
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