December 15, 2021

December 15, 2021

Stocks closed up after the Federal Reserve signaled a more aggressive unwinding of its monthly bond buying, as expected by the market, and forecast multiple rate hikes on the way next year.

 

Dow Jones finished +383 at 35,927

S&P 500 finished +76 at 4,709

NASDAQ finished +328 at 15,565

 

The 10 Year Treasury closed up 2 basis points yielding 1.46%

Oil prices closed up $0.86 ending at $71.57  a barrel.

Gold prices closed up $7.50 ending at $1,779 an ounce.

 

In the days’ stock news:

 

  • Medtronic closed down 6% after they revealed its diabetes business received a warning letter from the FDA about the failure of medical device quality system requirements at one of its California facilities. On Monday, Medtronic lowered its revenue expectations for the fiscal third quarter and fiscal 2022.
  • Roku closed down 8% after Universal Electronics announced the International Trade Commission has sided with it in a case against Roku and hit Roku with a patent infringement ruling that could potentially ban some of its products from being imported. However, Roku told CNBC it does not anticipate any disruption in its ability to import their products.

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