All major benchmarks were substantially higher at midday
| |  1/28/2021 | | | Have you seen our volatility scorecard? Sign up by clicking here! | Stocks Bounce Back from Selloff Amid Upbeat Earnings Reports | By: Fernanda Horner | | The major benchmarks are recovering from yesterday's massive selloff, as investors celebrated upbeat earnings reports from major tech names, while online platforms such as Robinhood have limited trading of heavily shorted stocks, easing fears that a bubble may be forming. The Dow Jones Industrial Average (DJI) was last seen up over 500 points, while the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also enjoying substantial gains. In terms of data, fourth-quarter gross domestic product (GDP) missed Wall Street's estimates, while weekly jobless claims came in better-than-expected at 847,000 for the week ending on Jan. 23. Continue reading for more on today's market, including: - E-tail giant brushes off Deutsche Bank downgrade.
- JetBlue stock bounces off fourth-quarter revenue beat.
- Plus, options traders eye new Reddit target; mining stock surges on tax fraud decision; and BlackBerry stock plummets following online trading restrictions.
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