May 9, 2022

May 9, 2022

Stocks fell sharply today, pushing the S&P 500 to breach the 4,000 level for the first time in more than a year as the market sell-off continued.

 

Dow Jones finished -654 at 32,245

S&P 500 finished -132 at 3,991

NASDAQ finished -521 at 11,623

 

The 10 Year Treasury closed down 9 basis points yielding 3.03%

Oil prices closed down $7.42 ending at $102.35 a barrel.

Gold prices closed down $30.00 ending at $1,853 an ounce.

 

In the days’ stock news:

 

  • BioNTech closed up 3% after BioNTech posted a better-than-expected first-quarter report. BioNTech earned $14.24 per share on revenue of $6.37 billion. Analysts polled by Refinitiv expected a profit of $9.16 per share on revenue of $4.34 billion.
  • Rivian closed down 21% following a CNBC report that Ford Motor will sell 8 million shares as the insider lockup for the stock is set to expire. Ford currently owns 102 million shares of Rivian. Ford shares fell 4%.

 

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