Major indexes rose today following earnings reports from companies like Meta Platforms Inc. (Nasdaq: FB), the parent of Facebook, and the increasing value of the U.S. dollar.
The S&P; 500 climbed 1.9% to 4,264.74 in midday trading while the Dow 30 rose 1.4% to 33,774.22 and the Nasdaq jumped 2% to 12,752.97.
The yield on a 10-year Treasury bond also increased 1.7% to 2.8650%.
Oil jumped 2.7% to 104.74 per barrel while gold stayed flat at $1,890 an ounce.
El Pollo Loco Holdings Inc. (Nasdaq: LOCO) climbed 4.7% to $10.90 per share and a market cap of $401 million. Investor website Stocknews.com today updated its rating for the Costa Mesa fast food chain from Hold to Buy. Last month, El Pollo Loco reported fourth-quarter 2021 revenue that beat analysts’ expectations.
Axonics Inc. (Nasdaq: AXNX) of Irvine took a 5.6% dip to $52.63 per share for a $2.5 billion market cap. Shares have fallen about 18% since the maker of devices to treat incontinence announced one week ago the national launch of the F15, an FDA-approved, rechargeable sacral neuromodulation device.