Stock Market Today: Stocks Swing Higher on Meta Earnings Excitement
Meta saw the biggest one-day surge in market value ever for a U.S. stock after the Facebook parent reported earnings.


It was a dizzying end of the week for market participants. Stocks had a slow start Friday thanks to a good-news-is-bad-news jobs report. However, the main indexes eventually turned tail and rallied hard on the back of well-received earnings from a pair of Big Tech giants.
Ahead of Friday's open, the Bureau of Labor Statistics said the U.S. added 353,000 new jobs in January, blowing past the 185,000 economists were expecting. Both the unemployment rate (3.7%) and participation rate (62.5%) were unchanged vs December, while average hourly earnings were up 0.6% month-over-month and 4.5% year-over-year.
The January jobs report is "crushing all the best-laid plans for a smooth path to Fed rate relief," says Douglas Porter, chief economist at BMO Capital Markets. And while Porter is "always cautious about reading too much into January economic stats," he notes that "there is little doubt that the U.S. economy retains much more momentum than almost anyone anticipated."

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.
And with the labor market still tight, market expectations for a March rate cut have dropped to 21% from 38% one day ago, according to CME Group's FedWatch Tool.
Meta stock booms on major dividend news
Meanwhile, Big Tech earnings gave folks plenty to buzz about too. Most notable were results from Facebook parent Meta Platforms (META). In addition to reporting higher-than-expected earnings of $5.33 per share on $40.1 billion in revenue, the company said it will start paying a quarterly dividend of 50 cents per share and increased its stock buyback program by $50 billion.
"The dividend is a very big statement," says Anthony Denier, CEO of Webull, a commission-free trading platform. "It confirms the business is a cash cow and it expresses confidence in its cash flow. Also, paying a dividend opens the stock up to a lot of new investors who only invest in dividend stocks."
Additionally, the company said it will spend up to $37 billion this year on investments aimed at boosting its tech infrastructure to support additional artificial intelligence (AI) initiatives.
These impressive results capped off what Meta CEO Mark Zuckerberg called a "year of efficiency" for the firm, which included cutting more than a fifth of its global workforce. They also sent META stock soaring 20.3% today – adding $204 billion in market value along the way. This is the biggest single-day gain in market value ever for a U.S. stock, according to Bloomberg. It's also equivalent to the entire market value of Dow Jones stock Cisco Systems (CSCO, 0.00%).
Amazon pops post-earnings
Fellow Magnificent 7 stock Amazon.com (AMZN) also popped after earnings, gaining 7.9% thanks to its top- and bottom-line beats.
Apple (AAPL), on the other hand, slipped 0.5% after its fiscal first-quarter results showed sales in China were down 13% vs the year prior. This is the only region that saw a year-over-year decline in sales.
As for the main indexes, the Nasdaq Composite closed up 1.7% at 15,628, the S&P 500 added 1.1% to 4,958, and the Dow Jones Industrial Average gained 0.4% to 38,654.
Related content
- ARK Invest's Cathie Wood is Searching for the Next Big Thing
- Finfluencers Are a Rising Trend. But Should You Trust Their Advice?
- Kiplinger's Earnings Calendar for This Week (Feb. 5-9)
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.
-
Suze Orman's Number One Retirement Mistake
Interview Find out what Suze Orman thinks costs people thousands of dollars in retirement.
-
Stay NJ Could Give You $6,500: The Deadline You Can't Miss
Property Taxes New Jersey has a new property tax relief program for 2025. But the application deadline is fast approaching.
-
Don't Be a Sucker: The Truth About Guarantor and Cosigner Agreements
There are significant financial and relationship risks involved if you agree to be a cosigner or guarantor. Make sure you perform your due diligence, and know exactly what you're getting into, before agreeing to such a commitment.
-
The Hidden Risk Lurking in Most Retirement Plans: Human Behavior
What's one of the differences between a good financial adviser and a great one? The ability to use behavioral coaching to guide clients away from emotional decision-making and toward retirement success.
-
Addressing Your Clients' Emotional Side: Communication Techniques for Financial Advisers
Rather than focusing only on financial plans, you can better serve your clients — and grow your business — by learning what to say and do when a client gets anxious or emotional.
-
Stocks Struggle Ahead of Busy Fed Week: Stock Market Today
The minutes from the July Fed meeting will be released Wednesday, while Chair Powell will deliver a key speech at Jackson Hole on Friday.
-
Is Crypto Investing Coming to a Credit Union Near You?
Credit unions are getting in on crypto investing through partnerships with third-party platforms, but the risks to investors still apply.
-
Seven Hidden Downsides of Dividend Investing, From a Financial Adviser
Dividend investing could be draining your wealth with unexpected costs and limited growth potential. Here are some downsides, along with smarter strategies to take control of your retirement income.
-
How to Position Your Business for a Lucrative Exit Despite Private Equity's Slowdown
As private equity firms seek strongly performing companies, crafting a narrative about your business' high-quality assets and future opportunities can make a lucrative sale possible.
-
Don't Regret Buying a Home: An Expert Guide to Navigating Today's Tough Housing Market
Whether you're a first-time buyer, want to upsize/downsize or move closer to work or family, it's critical to stay within your budget and have an emergency fund.