January 18, 2022

January 18, 2022

The major averages fell sharply Tuesday after Goldman Sachs reported disappointing earnings and as government bond yields hit Covid-era highs.

 

Dow Jones finished -543 at 35,368

S&P 500 finished -86 at 4,577

NASDAQ finished -387 at 14,506

 

The 10 Year Treasury closed up 10 basis points yielding 1.88%

Oil prices closed up $1.97 ending at $85.79 a barrel.

Gold prices closed down $3.00 ending at $1,814 an ounce.

 

In the days’ stock news:

 

  • Activision Blizzard closed up 26% after it announced Microsoft will buy it in a $68.7 billion all-cash deal, Microsoft’s largest acquisition to date. Microsoft shares fell more than 2%.
  • Peloton closed down more than 3% after CNBC reported the at-home fitness company is working with a management consulting group to review its cost structure and potentially cut some jobs.

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