Stocks are roaring higher ahead of Amazon, Alphabet earnings

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Ten of the 11 major S\u0026P sectors advanced, with economy linked energy, financial and industrials gaining the most

Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1 per cent.

“It’s the new president’s first real test – does he want to be seen as reaching across the aisle, or does he actually want to get things done? The markets will be hoping for the latter,” said Connor Campbell, financial analyst at spreadbetters Spreadex. The number of people who have received the first dose of a COVID-19 vaccine is fast closing in the total infections across the country, according to U.S. CDC data as of Feb. 1.

The so-called “meme” stocks GameStop Corp, AMC Entertainment and Nokia tumbled between 7.3 per cent and 45 per cent, while miners Hecla Mining Co and Coeur Mining Inc tracked a fall in spot silver prices.

 

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