This week was another wild one on Wall Street, but it paled in comparison to last week's massive swings in stock market value.
By the closing bell on Friday, the Dow was higher 19 points, or 0.08%. The S&P 500 gained 0.04% and the Nasdaq handed back 0.23%.
As investors head into a long weekend, here are the top market-movers on Wall Street for the week of Monday, Feb. 12, through Friday, Feb. 16.
Stocks Stage Comeback
After last week saw the Dow shed 5% of its value, stocks fared far better this week. Friday marked the sixth-straight day of gains for the Dow and S&P 500. The Dow tallied its best week since November 2016 with 4.26% in gains. The S&P 500 earned 4.3% for its best week since January 2013. The Nasdaq had its best week since December 2011 with a 5.31% rally.
Equities slipped some early Friday afternoon on news a federal grand jury had indicted 13 Russian nationals and three Russian entities accused of interfering with U.S. elections. Stocks made up losses fairly quickly, though, finishing Friday trading mostly higher.
Bond Yields Teeter
After breaking above 2.9% on Monday, bond yields for 10-year Treasury notes were back and forth in the red and green this week.
On Tuesday, the benchmark 10-year note yielded 2.83%, down 0.73% for the day. Wednesday saw a 2.910% yield, up 2.7% in the session on hot consumer price index data. That was the highest level since Jan. 10, 2014, when the 10-year yielded 2.968%. Thursday brought a 2.889% yield, down 0.75% for the day. And on Friday, the 10-year note yielded 2.867% at the close, nearing flat from the start of the week.
Yields were surging Wednesday as investors priced in an uptick in inflation larger than Wall Street expected. According to data released Wednesday, the consumer price index rose 0.5% in January, topping expectations of a 0.3% gain and registering its strongest monthly increase since January 2017. Core consumer prices in January rose to 0.3%, the most on a monthly basis since March 2005. Rising inflation suggests that the Federal Reserve might pick up the pace of rate hikes over the coming years.
PepsiCo Chief Financial Officer Hugh Johnston told TheStreet's Executive Editor Brian Sozzi that inflation was starting to pick up in some areas.
Earnings Season Surprises
Coca Cola Co. (KO) surprised on the upside Friday, beating on earnings and revenue. Coke's stock increased on the strong results. CEO James Quincey told TheStreet, "I think Wall Street is starting to see the story we have been talking about." Action Alerts Plus holding PepsiCo Inc. (PEP) also topped earnings estimates, but reported weak sales in its beverage division.
Kraft Heinz Co. (KHC) stock plummeted to a new 52-week low Friday after missing on both earnings and revenue estimates. Campbell Soup Co. (CPB) shares were also lower Friday, but that company beat on both earnings and revenue estimates. Campbell's is simply "behind the eight ball," said TheStreet founder Jim Cramer.
Shares of Action Alerts PLUS holding Waste Management Inc. (WM) had a great week after the firm reported what CEO Jim Fish called "arguably the best year in the company's history." Waste Management earned both top- and bottom-line beats.
If you want the latest market commentary, you just can't miss the Morning Jolt. Catch up quickly here: