November 30, 2021

November 30, 2021

Stocks dropped today, with the DOW, S&P, and NASDAQ all finishing in negative territory. This comes as investors are still trying to get a handle on how much the new omicron Covid variant will affect the world.

 

Dow Jones -652 at 34,484

S&P 500 -88 at 4,567

NASDAQ -245 at 15,538

 

The 10 Year Treasury closed down 9 basis points yielding 1.44%

Oil prices closed down $3.21 ending at $66.75 a barrel

Gold prices closed down $12 ending at $1,771 an ounce

 

Corporate news:

  • Shares of Dollar Tree declined 5% after Goldman Sachs downgraded the stock to neutral from to buy, saying the stock is too expensive at current levels as Dollar Tree’s comeback story is now priced in.

 

  • Both Beyond Meat and Oatly shares dropped over 4% after HSBC initiated coverage on the companies, giving both a reduced rating. This is mainly due to heightened competition in the alternative proteins market.

 

  • Facebook’s parent company, Meta, shares declined 4% after UK regulators told the company it must sell GIF-sharing platform Giphy.

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