January 6, 2022

January 6, 2022

Stocks fell today to end a day of choppy trading that followed the massive tech sell-off in the previous session.

 

Dow Jones finished -171 at 36,236

S&P 500 finished -5 at 4,696

NASDAQ finished -19 at 15,080

 

The 10 Year Treasury closed up 2 basis points yielding 1.72%

Oil prices closed up $1.60 ending at $79.45 a barrel.

Gold prices closed down $37.80 ending at $1,788 an ounce.

 

In the days’ stock news:

 

  • Walgreens closed down more than 2% after the company spoke of rising labor costs as its pharmacists are stretched thin by administering vaccines and filling prescriptions.
  • Rivian closed down 3% as the market rotated out of high-growth stocks, despite a bullish call from Bank of America. Bank of America named Rivian one of its top picks for 2022. Amazon, a key backer of the EV company, announced a deal with Stellantis on Wednesday, potentially creating additional selling pressure for Rivian.

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