December 16, 2021

December 16, 2021

Stocks opened higher this morning but ended the down with the DOW, S&P and NASDAQ all finishing in negative territory. In economic news, there were 206,000 jobless claims last week, 6% more than expected.

 

Dow Jones -30 at 35,898

S&P 500 -41 at 4,669

NASDAQ -385 at 15,180

 

The 10 Year Treasury closed down 4 basis points yielding 1.42%

Oil prices closed up $1.19 ending at $72.06 a barrel

Gold prices closed up $35 ending at $1,798 an ounce

 

Corporate news:

  • Shares of Delta Airlines dropped 2% despite the company announcing a projected $200 million 4th quarter profit. Delta said it is seeing strong holiday demand and is on track to exceeding pre-pandemic profit levels.

 

  • M. Smucker shares ended up 3% after the company struck a deal to sell its natural beverage and grains businesses to private equity firm Nexus Capital for $110 million.

 

  • Shopify was upgraded at Evercore, which noted the stock is about 20% below its year highs and that the company represents a high-quality asset in terms of growth opportunities. Shopify shares declined 3% today.

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