What Did the Stock Market Do? Feb. 11, 2021

Latest Updates:

S&P 500, Nasdaq Close Day Higher

[Thursday, February 11, 4:14 pm]
Contributed by Sarah Smith

  • The S&P 500 closed higher by 0.17%
  • The Dow Jones Industrial Average closed lower by 0.02%
  • The Nasdaq Composite closed higher by 0.38%
  • The Russell 2000 closed higher by 0.11%

Wall Street: Buy Green Hydrogen Stocks Now

[Thursday, February 11, 2:58 pm]
Contributed by Sarah Smith

Analysts from all over Wall Street continue to look at different opportunities in the renewable energy space, especially with consumers, businesses and lawmakers changing their tune about saving the planet. In fact, with President Joe Biden pursuing a historic climate agenda, many retail investors feel similarly. Recent stock market winners include electric vehicle plays and hydrogen fuel cell makers like FuelCell Energy (NASDAQ:FCEL) and Plug Power (NASDAQ:PLUG).

However, analysts see another opportunity emerging in green hydrogen. This refers to a specific subset of hydrogen, produced through electrolysis technology. More specifically, in green hydrogen production, an electric current separates water into hydrogen and oxygen. To do so, it uses either solar or wind energy.

Although hydrogen is broadly considered an alternate energy source, this type of hydrogen is considered even more renewable and sustainable. If you want to invest like the pros, consider these five players in the green hydrogen market (subscription required).

  • Ceres Power (OTCMKTS:CWPHF)
  • Orsted (OTCMKTS:DNNGY)
  • Endesa (OTCMKTS:ELEZY)
  • Iberdrola (OTCMKTS:IBDRY)

Midday Update: Stocks Are Taking a Dip

[Thursday, February 11, 1:01 pm]
Contributed by Sarah Smith

  • The S&P 500 is down 0.22%
  • The Dow Jones Industrial Average is down 0.42%
  • The Nasdaq Composite is down 0.03%
  • The Russell 2000 is down 0.97%

Bumble IPO Brings 'Buzz' to Wall Street

[Thursday, February 11, 10:32 am]
Contributed by Sarah Smith

Just in time for some awkward Valentine’s Day conversations, Bumble (NASDAQ:BMBL) is public. Today, the dating app company from Whitney Wolfe Herd made its stock market debut, launching on the Nasdaq Exchange under ticker BMBL. Investors should note that the IPO priced in at $43, above the initial range. This also means that the company surpassed its goal to raise more than $2 billion.

What else do you need to know? Bumble represents a victory for Wolfe Herd, as the youngest woman to guide such a large tech company through the initial public offering process. There is also an interesting argument here for investors as dating apps move even further into the mainstream.

For more, read the InvestorPlace.com brief here.

3 Big Stories to Watch Today

[Thursday, February 11, 9:34 am]
Contributed by Sarah Smith

  1. Unemployment. Another Thursday is here, bringing a closer look at the employment situation in the United States. Today, investors learned that 793,000 Americans filed for initial jobless benefits last week. That is slightly higher than estimates for 760,000, but it remains below the 812,000 figure for last week. It also marks a five-week low for the weekly reports. What does this all mean? With Democrats working to pass a $1.9 trillion stimulus bill from President Joe Biden, there is a lot on the line. Over the summer, we saw enhanced federal unemployment benefits boost consumer spending and buoy the market. A similar situation moving forward could help shake unemployment concerns as the vaccine rollout continues.
  2. Cannabis craze continues. Yesterday we wrote that Redditors and other retail investors were turning their attention to cannabis stocks. Big winners included Tilray (NASDAQ:TLRY), Sundial Growers (NASDAQ:SNDL), Canopy Growth (NASDAQ:CGC) and Aphria (NASDAQ:APHA). Experts think that the speculative nature of smaller companies like Sundial, combined with catalysts like pending legalization or decriminalization of cannabis at the federal level, serve to support these names. Additionally, Tilray recently signed a medical marijuana distribution deal that sets a good precedent for the sector. Today, the Reddit-fueled rally in cannabis continues. Look for unique or less-known plays in the space. For example, we saw the Supreme Cannabis Company (OTCMKTS:SPRWF) rocket yesterday, propelled on by the trend.
  3. Crypto, crypto, crypto. The stars continue to align for cryptocurrencies. Today, the big news is that BNY Mellon and Mastercard (NYSE:MA) are both working to integrate crypto on their platforms. Plus, some experts predict that the U.S. Securities and Exchange Commission is on its way to approving the first Bitcoin (CCC:BTC) exchange-traded fund. With that in mind, a large basket of digital currencies is climbing on Thursday.

Major Indices Open in the Green

[Thursday, February 11, 9:33 am]
Contributed by Sarah Smith

  • The S&P 500 opened higher by 0.26%
  • The Dow Jones Industrial Average opened higher by 0.1%
  • The Nasdaq Composite opened higher by 0.53%
  • The Russell 2000 opened lower by 0.72%

Stock Market Futures Are Slightly Positive

[Thursday, February 11, 8:12 am]
Contributed by Sarah Smith

  • S&P 500 futures are up 0.25%
  • Dow Jones Industrial Average futures are up 0.18%
  • Nasdaq Composite futures are up 0.46%
  • Russell 2000 futures are down 0.02%

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