January 14, 2022

January 14, 2022

Stocks were mostly lower today at the end of an unstable week, with investors monitoring a mixed set of bank earnings and a bigger-than-expected drop in U.S. retail sales.

 

Dow Jones finished – 202 at 35,911

S&P 500 finished +4 at 4,662

NASDAQ finished +87 at 14,893

 

The 10 Year Treasury closed up 7 basis points yielding 1.78%

Oil prices closed up $2.08 ending at $84.20 a barrel.

Gold prices closed down $5.00 ending at $1,816 an ounce.

 

In the days’ stock news:

 

  • Boston Beer Company closed down more than 8% a day after the brewer cut its annual earnings outlook, citing high costs related to supply chain issues and fading growth of its hard seltzer brand Truly.
  • JPMorgan Chase closed down more than 6%, dragging down the major equity averages. The sell-off came after the firm posted its smallest quarterly earnings beat in nearly two years and the lender’s chief financial officer lowered guidance on companywide returns.

 

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