Dow jumps 270 points to start February | Alphabet earnings are out | U.S. economy about to hit a wall?

The major averages kicked off February with gains.

VIEW IN BROWSER | SUBSCRIBE TUE, FEB 01, 2022 EVENING BRIEF AS OF TUE, FEB 01, 2022 • 04:50 ET DJIA 35405.24 +0.78% +273.38 S&P 500 4546.54 +0.69% +30.99 NASDAQ 14346.00 +0.75% +106.12   Most Active DOW NAME LAST CHG %CHG AAPL 174.61 -0.17 -0.10% MSFT 308.76 -2.22 -0.71% INTC 48.95 +0.13 +0.27% S&P 500 NAME LAST CHG %CHG T 24.42 -1.08 -4.24% AMD 116.78 +2.53 +2.21% F 20.66 +0.36 +1.77% NASDAQ NAME LAST CHG %CHG AMD 116.78 +2.53 +2.21% AAPL 174.61 -0.17 -0.10% NVDA 246.38 +1.52 +0.62%   EDITOR'S NOTE Stocks gained for a third day to begin February as investors recovered from January's wild trading.   The Dow Jones Industrial Average jumped 273.38 points, or nearly 0.8%. The S&P 500 climbed 0.6%, and the Nasdaq Composite advanced 0.7%.   Bank stocks led the market higher after getting a boost from the benchmark 10-year Treasury yield, which broke back above 1.8% at one point in the day. Shares of Wells Fargo rose 3.3%, and Goldman Sachs added 2.6%. JPMorgan Chase shares gained 1.7%. Megacap tech names were also among the notable gainers. Netflix jumped 7%, while Alphabet and Facebook-parent Meta Platforms each rose more than 1%.    Big Tech stocks are in focus this week as investors await earnings from Amazon and Meta. Alphabet released quarterly results after the bell Tuesday, reporting beats on the top and bottom lines.   Traders digested U.S. manufacturing data that indicated inflation is rising.   Indeed, the Institute for Supply Management said its manufacturing index came in at 57.6% in January, a decline of 1.2 percentage points from December. Meanwhile, the ISM's prices index hit 76.1% last month, up 7.9 percentage points from the prior month and reflecting inflation pressures. Tanaya Macheel | Markets and Investing Reporter @tanayamac Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks rise for a third day to extend market's comeback from January sell-off, Dow jumps 270 points U.S. Covid fatalities reach highest level in a year as omicron cases subside There were 4.6 million more job openings than unemployed workers in December After a huge year for growth, the U.S. economy is about to slam into a wall Legendary NFL QB Tom Brady announces retirement in social media posts AT&T to spin off WarnerMedia in $43 billion Discovery media merger, cuts dividend Cathie Wood is buying Tesla again after steadily trimming position for months These tech stocks look cheap after the January rout, based on their growth prospects Republican super PACs outraise Democratic rivals ahead of midterm congressional elections Cramer urges investors to use the late-January rally to sell stocks in unprofitable companies   TOP VIDEO Alphabet has potential to outperform most large cap Nasdaq stocks in 2022, says Josh Brown   CNBC PRO Buy these 'ports in the storm' for a volatile 2022, says William Blair   SPECIAL REPORTS Metaverse real estate sales top $500 million, and are projected to double this year How to quit Spotify and what you give up if you do   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS