January 5, 2022

Stocks closed down today with investors turning away from tech and growth stocks in anticipation of higher rates.

Dow Jones finished -393 at 36,407

S&P 500 finished -93 at 4,700

NASDAQ finished -523 at 15,100

The 10 Year Treasury closed up 3 basis points yielding 1.69%

Oil prices closed up $0.09 ending at $77.08 a barrel.

Gold prices closed down $4.80 ending at $1,810 an ounce.

In the days’ stock news:

Alibaba closed up 1.4% after Charlie Munger’s Daily Journal nearly doubled its stake in the stock. A regulatory filing Tuesday showed that Daily Journal now owns more than 600,000 shares of Alibaba.
Software, technology and chip stocks continued to fall after Tuesday’s sell-off. DocuSign fell 6% and Snowflake fell 6% and Microsoft lost 4%.