All three major stock indexes recorded their biggest gains since 2023.
While inflation data raised concerns about when the Fed will start cutting interest rates, the US** was strong in February, with all three major stock indexes posting their biggest gains since 2023.
The Dow Jones Industrial Average accumulated **846 in February09 points, up 223% to 3899639 points. Last month, the Dow posted its biggest monthly point and percentage gain since December 2023, marking the fourth consecutive month**, according to Dow Jones Market Data.
On Thursday (February 29), the Dow ended a three-day losing streak, **4737 points, an increase of 01%, * the fourth-highest price ever.
In February, the S&P 500 accumulated **25062 points, an increase of 517% to close at 5096At 27 points, the ** price hit a new all-time high. This is the largest monthly point and percentage increase since November 2023, and the 14th new high the index has made this year, according to Dow Jones Market Data.
The Nasdaq Composite Index accumulated **927 in February91 points, to 1609192 points, an increase of 612%, also a new high, is also the first record this year. The index also posted its largest monthly point and percentage gains since November 2023 and its longest winning streak since five consecutive months** in July 2023.
Here are the best and worst performances on the field in February.
Dow Jones Industrial Average
The best performer** of the Dow Jones Industrial Average in February was Disney (DIS).
On Feb. 6, Disney announced a joint venture with Fox and Warner Bros. Discovery (WBD) that will integrate sports streaming** into a single platform where users can combine the new service with their existing Hulu or Max subscriptions**. The joint venture is expected to launch this fall, but is now facing a lawsuit from Fubo TV, a sports-focused streamer that has challenged the establishment of the joint venture on antitrust grounds.
On Feb. 7, Disney reported fiscal first-quarter results that beat expectations, and its expectations for the fiscal year ending September were also very strong.
Dow Jones market data shows that Disney ** 162%, the biggest month since January 2023, when the stock price was up 25%. Amazon (AMZN) and Caterpillar (CAT) were second and third in terms of gains, respectively, with Amazon up 13 in February9%, Caterpillar ** 112%。
Biotech company Amgen (AMGN) was the worst-performing component of the Dow, with a 12-month mark in February9%, the worst month since October 2020**15%.
Amgen's fourth-quarter earnings report, released on Feb. 6, showed that revenue and profit for the quarter beat expectations, and the company gave mixed guidance. Amgen also said that some of the results of some studies on the drug maritide have recently been published.
Brian Skorney, an analyst at Baird, wrote in a research note on Tuesday that there were "many questions" about the tolerability of maritide, and that "50 percent of patients stopped taking the drug after taking high doses, 100 percent experienced nausea and 75 percent experienced vomiting, which is difficult to accept even if it is the best indication efficacy."
S&P 500 and Nasdaq 100
Carbon-free energy company Constellation Energy (CEG) was the best performer in the S&P 500 and Nasdaq 100 indices in February**, with a 381%, which was the best month on record for the stock.
In its fourth-quarter earnings report released on Tuesday, Consultellation Energy released its 2024 results, higher than Wall Street's consensus, saying it would be boosted by a tax credit for nuclear power production under the Inflation Reduction Act and strong free cash flow.
Constellation Energy also said it plans to increase its dividend by 25%.
Charter Communications (CHTR) was the worst-performing Nasdaq-100 in February, up 21% for the month, the worst month since September 2022, when the stock price was up 265%。
The biggest performer in the S&P 500 in February** was Paramount Global (PARA), which fell 243%, the biggest monthly drop since 35% in May 2023.
On February 2, Paramount Global disclosed an unexpected decrease in Internet subscribers, and quarterly earnings were lower than market expectations, and the stock price fell sharply by 17% on the day.
CEO Christopher Winfrey said on the earnings call: "The growth of the company's Internet business has been challenging, mainly due to increasing competition from the fixed wireless business. ”
Text |Angela Palumbo
Edit |Guo Liqun
Copyright Notice: Barron's original article, without permission, may not**. For the English version, see "The Best and Worst Stocks in February: Disney, Charter, and More" on February 29, 2024.
The content of this article is for informational purposes only and does not constitute investment and financial advice of any kind; The market is risky and investors should be cautious. ）
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