consumer sentiment in January fell to a 10-year low of 67.2, missing the consensus estimate of 68.6. The University of Michigan reported that the final reading of U.S. Year over year, benefits were up 2.8% in fourth quarter compared with 4.2% in third quarter. Benefits rose 0.9% in the fourth quarter, in line with the third quarter. Over the past 12 months, wages were up 4.5% in fourth quarter compared with 4.2% in third quarter.
Wages and salaries rose 1.1% in the fourth quarter, down from 1.5% in the third quarter. Year over year, the index rose 4% in fourth quarter compared with 3.7% in third quarter. The Department of Labor reported that employment cost index rose 1% in fourth-quarter 2021 compared with the consensus estimate of 1.2% and previous quarter’s data of 1.3%. November’s data was revised upward from 6.9% to 7.2%. Personal savings rate increased to 7.9% in December. November’s data was revised downward from a gain of 0.6% to 0.4%. Personal spending decreased by 0.6%, in line with the consensus estimate. November’s data was revised upward from 0.4% to 0.5%. In December, personal income increased by 0.3%, missing the consensus estimate of 0.5%. Month over month, the core PCE inflation rose 0.5%, in line with the consensus estimate and the growth rate of November. The core (excluding volatile food and energy items) PCE pride index – the Fed’s favorite inflation gauge - climbed 4.9% year over year in December, reflecting the biggest monthly gain since September 1983. The Department of Commerce reported that the PCE price index jumped 5.8% year over year in December, marking its fastest pace since June 1982. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. All four stocks carries a Zacks Rank #3 (Hold). GOOGL gained 2.8%, 2.4% and 3.4%, respectively. Apple expects its revenue to grow more in the ensuing second-quarter.Ĭonsequently, shares of Apple jumped 7%. Except, iPAD, all product segments of the company witnessed revenue growth despite lingering effect of pandemic. Apple’s total earnings topped $30 billion for the first time in history despite supply-side constraints. Net sales increased 11.2% year over year to $123.95 billion, which beat the Zacks Consensus Estimate by 4.92%, marking the largest quarterly revenues for the company. Quarterly earnings of $2.10 per share beat the Zacks Consensus Estimate by 11.1% and increased 25% year over year. AAPL reported blockbuster results for first quarter fiscal 2022. On Jan 27, after the closing bell technology giant Apple Inc. On Nasdaq, a 1,92-to-1 ratio favored advancing issues. Advancers outnumbered decliners on the NYSE by a 1.83-to-1 ratio. A total of 12.8 billion shares were traded on Friday, higher than the last 20-session average of 12.1 billion. The fear-gauge CBOE Volatility Index (VIX) was down 9.3% to 27.66. The Technology Select Sector SPDR (XLK), the Real Estate Select Sector SPDR (XLRE), the Communication Services Select Sector SPDR (XLC) and the Consumer Discretionary Select Sector SPDR (XLY) rallied 4.4%, 3.5% 2.9% and 2.2%, respectively. Ten out of eleven sectors of the benchmark index closed in positive zone while one in the red.
Meanwhile, the S&P 500 climbed 2.4% to end at 4,431.85, its best day since June 2020.
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