Stock Market Today: Snap Stock Soars in a Quiet Day for Markets
The major benchmarks made modest moves today, though social media stock Snap soared on TikTok buzz.


Stocks closed mostly higher Monday, with two of the three major benchmarks building on Friday's positive momentum.
Amid a relatively bare economic and earnings calendar, investors took in a deluge of single-stock news, including reports of a potential nationwide TikTok ban – which sent Snap (SNAP) stock soaring.
The Dow Jones Industrial Average outpaced its peers today, adding 0.1% to 33,431, while the S&P 500 edged up 0.07% to 4,048. The Nasdaq Composite, however, slipped into the red near the close, giving back 0.1% to 11,675.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
While moves for the major benchmarks were modest, Snapchat parent Snap jumped 9.4% amid reports Congress is considering a nationwide ban of Chinese social media platform TikTok.
Last week, the U.S. House Foreign Affairs Committee advanced legislation that would give President Joe Biden the authority to ban TikTok in the U.S. due to national security concerns. The bill will now proceed to the House of Representatives for a full vote. In December, Congress passed a bill that banned the platform from use on devices owned by the federal government. Social media stock Pinterest (PINS, +1.1%) also closed higher.
Elsewhere, Apple (AAPL, +1.9%) was one of the best Dow stocks today – second only to healthcare giant Merck (MRK, +3.9%) – after Goldman Sachs analyst Michael Ng initiated coverage on the iPhone maker with a Buy rating. "Apple's installed base growth, secular growth in services, and new product innovation should more than offset cyclical headwinds to product revenue, such as a reduced iPhone unit demand due to a lengthening replacement cycle and reduced consumer demand for the PC & tablet category," Ng wrote in a note to clients.
The best blue chip dividend stocks
The rest of the week will draw more economic headlines. Fed Chair Jerome Powell is set to kick off his two-day congressional testimony tomorrow, with investors anxious for more clarity on the central bank's future plans for interest rates. Economic data has come in relatively strong recently, and the next big data point is due out at the end of this week. Specifically, the February jobs report will be released ahead of Friday's open.
"This week will likely deliver a make-or-break moment for risk appetite as we will hear Fed Chair Powell's testimony to Congress and find out if the hot January jobs report was an aberration," says Edward Moya, senior market strategist at currency data provider OANDA.
With inflation data due out next week, and the next Fed meeting scheduled for the end of this month, the potential for volatility is high. As such, investors should stay focused on the best blue chip stocks that are poised to weather the storm – and what better place to start than with the best blue chip dividend stocks? This short list of high-quality names can deliver both income and outperformance in a turbulent market.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Last Call for Fortnite Refunds: Parents Can Still File a Claim
The FTC is sending out $126 million in refunds to families whose kids were charged for unwanted items in Fortnite — and there’s still time to file a claim.
-
Stock Market Today: Stocks Swing as Trump Scraps Canada Trade Talks
Despite a mid-afternoon slip, the S&P 500 and Nasdaq ended the day at new record highs.
-
Stock Market Today: Stocks Swing as Trump Scraps Canada Trade Talks
Despite a mid-afternoon slip, the S&P 500 and Nasdaq ended the day at new record highs.
-
Stock Market Today: S&P 500, Nasdaq Near New Highs
The S&P 500 hasn't hit a new high since February. It's been since December for the Nasdaq.
-
Stock Market Today: Stocks Struggle to Sustain Gains
Mixed messages from multiple sources continue to make for a messy market for investors, traders and speculators.
-
Stock Market Today: Stocks Soar on Israel-Iran Ceasefire
It was a rocky start to the truce, but a temporary halt to fighting between Israel and Iran appears to be holding for now.
-
The Riskiest S&P 500 Stocks Right Now
Buyer beware: These are five of the riskiest stocks in the S&P 500 at the moment, based on one measure of volatility.
-
Stock Market Today: Stocks Rise on a Little More Uncertainty
The best response to a major geopolitical event is often no response at all, especially if you're looking at the big picture.
-
Stock Market Today: Stocks Chop as Chipmakers Decline
Several semiconductor stocks fell Friday on reports that the White House may consider revising license waivers for global chipmakers.
-
Stock Market Today: Stocks Grapple for Peace Trade Gains
Of course dramatic tension is high on Fed Day, only this time it's about war and peace as well as monetary policy.