HomeTechStock market news live updates: Stocks close out volatile week in the...

Stock market news live updates: Stocks close out volatile week in the red as traders assess Omicron, Fed rate hike signals – Yahoo Finance

Stocks fell on Friday to extend Thursday's losses, with equities ending a volatile week in the red as investors assessed the ongoing risk of the Omicron variant and the Federal Reserve's signals for potentially multiple interest rate hikes next year. 
The S&P 500 and Dow declined sharply while the Nasdaq traded slightly lower after a sell-off on Thursday. The Dow was the biggest laggard on the day, shedding more than 1% as shares of financials including Goldman Sachs (GS), and JPMorgan Chase (JPM) lagged. 
Shares of FedEx (FDX) jumped after the shipping giant raised its full-year earnings forecast, delivered better-than-expected fiscal second-quarter results and authorized a new $5 billion stock buyback program. Rivian (RIVN), meanwhile, saw shares sink following its first quarterly report since its IPO last month. The electric-vehicle maker said in its shareholder letter it expected to be "a few hundred vehicles short" of its prior target of producing 1,200 units by the end of this year. 
Investors' main focus this week has remained fixed on the Federal Reserve's updated outlook on monetary policy for next year, with the central bank's projections delivered mid-week suggesting the Fed could hike interest rates three times next year.
The specter of higher rates — and a lower-liquidity environment as the central bank also speeds up the tapering process of its asset purchases — has continued to weigh heavily on longer-duration technology and growth stocks valued heavily on future earnings potential. The Nasdaq Composite had underperformed to drop 2.5% on Thursday and give back all of its gains after a rally on Wednesday. The index has fallen by 5% over the past month through Thursday's close. And shares of some notable technology stocks extended declines on Friday, with Apple (AAPL) shares dropping by about 1% after a nearly 4% decrease on Thursday. 
On the other hand, cyclical stocks in the energy and financials sectors outperformed on Thursday, with the prospects of higher interest rates and stronger growth seen as benefitting these sectors. 
"The thing investors have to understand is, we're going through a major transition in monetary policy," Troy Gayeski, FS Investments chief market strategist, told Yahoo Finance Live on Thursday. "The Fed has been running emergency policies arguably far longer than they should have been, and as that money supply growth slows down as they ease off the balance sheet expansion and ultimately hike next year, one would at least expect more volatility in markets. And that's really what we've been seeing the last month." 
"The biggest difference between now and six months ago, or even more than a year ago, is you could pretty much go long anything and you were confident it was going to go up. The economy was booming, we had a lot of fiscal stimulus, we still had unprecedented monetary policy stimulus," he added. "And it's a very different environment in 2022 where you're going to have to pick and choose much more carefully." 

Here's where markets closed out Friday's trading day 
S&P 500 (^GSPC): -48.12 points (-1.03%) to 4,620.55
Dow (^DJI): -531.08 points (-1.48%) to 35,366.56
Nasdaq (^IXIC): -10.75 points (-0.07%) to 15,169.68
Crude (CL=F): -$1.94 (-2.68%) to $70.44 a barrel
Gold (GC=F): -$0.50 (-0.03%) to $1,797.70 per ounce
10-year Treasury (^TNX): -1.3 bps to yield 1.409%

Bitcoin prices slid on Friday for a fifth consecutive week, tracking declines in other risk assets on expectations of tighter monetary policy amid higher inflation.
Prices for the largest cryptocurrency by market capitalization were down nearly 4% to trade near the $46,000 mark as of Friday afternoon. Other major cryptocurrencies including Ethereum also came under pressure, dropping more than 4% to dip below $3,900. 

Here were the main moves in markets as of 1:30 p.m. ET:
S&P 500 (^GSPC): -20.78 (-0.45%) to 4,647.89
Dow (^DJI): -382.96 (-1.07%) to 35,514.68
Nasdaq (^IXIC): +51.97 (+0.34%) to 15,232.41
Crude (CL=F): -$1.62 (-2.24%) to $70.76 a barrel
Gold (GC=F): +$6.20 (+0.34%) to $1,804.40 per ounce
10-year Treasury (^TNX): -2.7 bps to yield 1.3950%

Shares of stocks including AMC Entertainment (AMC), GameStop (GME), and BlackBerry (BB) jumped on Friday as investors bought the dip in shares of riskier assets from earlier this week. 
AMC shares were up more than 17% mid-morning on Friday. Previously shares had fallen by 42% in the month through Thursday's close, as volatility returned to the darlings of the meme trade from earlier this year. GameStop shares also advanced to reverse some losses after a 31% drop over the past month. 
Still, for the year-to-date, these stocks have risen sharply, largely due to a surge in interest at the beginning of this year. Shares of AMC were up 1,053% for the year-to-date through Thursday's close, while GameStop shares were up 667% over that period. 

The three major indexes opened in the red and headed for a back-to-back day of losses on Friday, with technology stocks getting hit for another session. The Nasdaq dropped nearly 1% just after the opening bell, while the Dow dropped about 200 points, or 0.5%. The S&P 500 dropped another 0.7%.
The Treasury yield curve flattened as yields on the long end fell Friday morning. The benchmark 10-year yield dropped nearly 3 basis points to below 1.4%. 

Here's where markets were trading as of Friday morning ahead of the opening bell:
S&P 500 futures (ES=F): -12.25 points (-0.26%), to 4,656.50
Dow futures (YM=F): -12 points (-0.03%), to 35,890
Nasdaq futures (NQ=F): -104.25 points (-0.66%) to 15,766.25
Crude (CL=F): -$1.33 (-1.84%) to $71.05 a barrel
Gold (GC=F): +$11.60 (+0.65%) to $1,809.80 per ounce
10-year Treasury (^TNX): -1.5 bps to yield 1.407%

Here were the main moves in markets as the overnight session kicked off on Thursday: 
S&P 500 futures (ES=F): +5.25 points (+0.11%), to 4,674.00
Dow futures (YM=F): +52 points (+0.14%), to 35,954.00
Nasdaq futures (NQ=F): +6 points (+0.04%) to 15,876.50

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter
Investors looking for a brief respite from two weeks of volatile trading on Wall Street may get one on Monday, when Martin Luther King Jr. Day is observed this year.
As it turns out, during so-called Federal Reserve interest rate-hike cycles, which we seem set to enter as early as March, the U.S. stock market tends to perform strongly, not poorly.
Stop sinking your money in mediocre businesses. Buy the best instead.
Every investor wants to see his stocks pay off – or he wouldn’t be in the markets. But finding the right investment, the ‘one’ that will bring profits, no matter what direction the overall markets take, can sometimes be challenging. The two simplest courses of action an investor can take to ensure solid returns are based on common sense. The first is, to buy low and sell high. That is, find a cheap stock with sound fundamentals and good prospects for growth – and buy in to take advantage of the
Inflation is at 40-year highs. These stocks can help ease the pain.
The stock market rally is on the back foot, while the Nasdaq has lagged the S&P 500 for nearly a year. But Apple is holding up.
The picks aren’t the familiar Verizon or AT&T; watch comms infrastructure instead.
The metaverse seems to be the latest investing megatrend that's caught the attention of investors and the news media. Before you discount this as just another passing fad, ARK Invest founder and respected technology pundit, Cathie Wood, told CNBC in December that the metaverse could be a "multi-trillion dollar opportunity" and that it will impact "every sector in ways that we cannot even imagine right now." For savvy tech investors, this sounds like an opportunity that could be too good to pass up.
In conjunction with the investment, Ford announced plans to build an electric vehicle (EV) based on Rivian's vehicle platform. As a financial investment, the Rivian stake has generated a huge windfall for Ford. With Rivian stock trading at an extraordinarily high valuation for a glorified start-up — even after a sharp pullback from its November peak — Ford should look to sell its Rivian shares in 2022.
Find out which of Vanguard's value funds are the best for building a solid core-satellite value investing strategy for your portfolio.
JPMorgan Chase & Co. (NYSE: JPM) kicked off the first earnings round in 2022 with the largest single-day decline in almost 2 years. While the bank sees the boost to the net interest income, a hike in the adjusted noninterest expenses of almost 10% has undoubtedly spooked the market.
Superstar investor Cathie Wood is known for her winning stock picks. I'm talking about companies you can count on for performance over the long term. Wood's biggest funds have delivered gains of 180% or more over the past five years.
2021 has been a stellar year for many asset classes, including oil, bitcoin and industrial metals, and many analysts believe that the aforementioned assets are poised for further gains in 2022
WASHINGTON (Reuters) -The largest satellite provider in the United States said late Friday it will drop One America News, a move that could financially cripple the rightwing TV network known for fueling conspiracy theories about the 2020 election. The announcement by DirecTV, which is 70% owned by AT&T, comes three months after a Reuters investigation revealed that OAN’s founder testified that AT&T inspired him to create the network. Court testimony also showed that OAN receives nearly all of its revenue from DirecTV.
It's now clear that the first part of January has exhibited a marked change and reversal in pattern.
Homebuyers rush to take out loans before rates go even higher.
The oil market hasn't always been kind to dividend investors. The sector has often had to slash or suspend dividend payments during oil price downturns, which have happened twice this decade. Instead of setting a high base payout, some are setting lower quarterly payments and supplementing with variable or special dividends when oil prices are higher.
(Bloomberg) — The team leader for quantitative stocks trading at China’s $1.2 trillion sovereign wealth fund has resigned, joining a growing list of departures among the firm’s investing professionals, according to people familiar with the matter.Most Read from BloombergDjokovic Loses Shot at Tennis History as Australia Deports StarOne of the World’s Wealthiest Oil Exporters Is Becoming UnlivablePutin’s Troops Wouldn’t Get Cheers in This Once Pro-Russia CityThe Virus Has Changed. Maybe We Shoul
Hundreds of Chinese companies are listed on U.S. markets. China is the world's most-populous nation and the second-largest economy with a booming urban middle class and amazing entrepreneurial activity. Often dozens of Chinese stocks are among the top performers at any given time, across an array of sectors.
The supermodel, who turns 68 on Feb. 2, appears to be vacationing in the Caribbean.

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

spot_img