December 29, 2021

December 29, 2021

Stocks finished the day mixed, with the DOW and S&P both in positive territory, while the NASDAQ dropped lower. In economic news, there were 744,000 new home sales during November, 3% less than expected.

 

Dow Jones +90 at 36,489

S&P 500 +7 at 4,793

NASDAQ -16 at 15,766

 

The 10 Year Treasury closed up 6 basis points yielding 1.54%

Oil prices closed up $0.54 ending at $76.52 a barrel

Gold prices closed down $5 ending at $1,805 an ounce

 

Corporate news:

  • Shares of Fuel Cell Energy dropped 13% after the company reported a loss of 7 cents per share for its latest quarter, which was wider than the expected 4 cent loss. Revenue also fell below expectations.

 

  • Alibaba shares declined 2% after the e-commerce company said it is considering the sale of its 30% stake in social media company Weibo to state-owned Shanghai Media Group.

 

  • Tesla shares dropped despite CEO, Elon Musk, saying he has completed selling of all his stock options for next year. This signals the end of the recent stock sale by Musk.

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