January 15, 2021

January 15, 2021

Stocks dipped as traders considered details of President-elect Joe Biden’s newly unveiled stimulus proposal and absorbed new data showing U.S. retail sales unexpectedly falling for a third straight month in December.

 

Dow Jones finished -177 at 30,814

S&P 500 finished -28 at 3,768

NASDAQ finished -114 at 12,998

 

The 10 Year Treasury closed down 3 basis points yielding 1.09%

Oil prices closed down $1.42 ending at $52.15 a barrel.

Gold prices closed down $25.10 ending at $1,826 an ounce.

 

In the days’ stock news:

 

  • Poshmark dropped more than 18%, reversing course after a red hot debut on Thursday. The stock still closed almost 100% higher than its IPO price of $42 per share.
  • Petco closed down more than 5% after its IPO surge in the previous session. The stock soared 63% in its market debut on Thursday as investors remained bullish on the pandemic-fueled pet boom.

 

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