Overview

• The U.S. economy added 353,000 jobs in January, surpassing expectations and indicating a strong labor market.
• Apple's stock fell 3.5% after reporting a decline in China revenue, while Meta Platforms' shares surged 15% following a strong earnings report.
• Amazon's cloud business drove a 6.5% increase in its stock, with the company also reporting a decrease in cost-to-serve for the first time since 2018.
• Nvidia's AI chips remain in high demand, with Meta, Amazon, and Microsoft among the heavy users.
• Exxon and Chevron reported strong earnings, with Chevron announcing an 8% dividend increase.