January 21, 2022

January 21, 2022

Stocks closed down today with investors rotating further away from growth and technology stocks that had outperformed early on during the pandemic.

 

Dow Jones finished -450 at 34,265

S&P 500 finished -85 at 4,397

NASDAQ finished -385 at 13,768

 

The 10 Year Treasury closed down 7 basis points yielding 1.76%

Oil prices closed down $0.84 ending at $84.71 a barrel.

Gold prices closed down $12.50 ending at $1,830 an ounce.

 

In the days’ stock news:

 

  • Netflix closed down 22%. The steep sell-off came after Netflix admitted that streaming competition was eating into its own growth in its fourth-quarter earnings release
  • Intel closed even after the company announced plans to invest at least $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants come as chipmakers work to accelerate supply to meet demand.

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