January 12, 2022

January 12, 2022

Stocks finished the day with the DOW, S&P, and NASDAQ all in positive territory. In economic news, inflation increased 7% over the past year, the highest since 1982.

 

Dow Jones +39 at 36,291

S&P 500 +13 at 4,726

NASDAQ +35 at 15,188

 

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 Door Dash dropped 2% despite being upgraded at Evercore, which said the delivery service has strong fundamentals and the stock is at an attractive valuation.

 

  • Biogen shares declined 7% after Medicare agreed to cover its Alzheimer’s drug only partially. Medicare will cover the treatment only if patients are enrolled in clinical trials and have early-stage symptoms.

 

  • Piper Sandler named Crocs one of its top picks for 2022, calling it one of the most impressive consumer growth stories for several years to come. Crocs shares finished up 7%.

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