US stocks fell for the second straight year as investors closed the week.
The Dow Jones Industrial Average fell 532 points, or 1.5%, while the S&P 500 was down 1%. The Nasdaq Composite bucked the downtrend, rising 0.07%.
Traders also faced triple sorcery when stock and index options expire, along with index futures that fueled volatility.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGE VALUES | 35365.44 | -532.20 | -1.48% |
| SP500 | S&P 500 | 4620.64 | -48.03 | -1.03% |
| Me: COMP | NASDAQ COMPOSITE INDEX | 15169.682092 | -10.75 | -0.07% |
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The Federal Reserve-fueled rally fizzled out after policy makers announced they would start rate hikes next year to fight inflation.
Gold got a boost in flight and is well on its way to close on a one-month high as oil slipped 2% to $ 70.86 a barrel.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – EUR ACC | 167.80 | -0.36 | -0.21% |
For stocks, Oracle could be on the verge of buying Cerner, according to The Wall Street Journal, in a deal that would put the electronic medical records maker at around $ 30 billion.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| ORCL | ORACLE CORP. | 96.62 | -6.60 | -6.39% |
| CERN | CERNER CORP. | 89.77 | +10.28 | + 12.93% |
Pharma stocks remained in focus after a CDC panel recommended Moderna and Pfizer’s COVID-19 vaccines to J&J because of blood clot links.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 294.80 | +12.78 | + 4.53% |
| PFE | PFIZER INC. | 59.48 | -1.77 | -2.89% |
| BNTX | BIONTECH SE | 287.28 | +3.60 | + 1.27% |
| JNJ | JOHNSON & JOHNSON | 168.23 | -4.78 | -2.76% |
Delivery company FedEx Corp resumed its original forecast for fiscal year 2022 on Thursday, though ongoing labor worries have diminished profits ahead of the main holiday season, when the number of packages processed often doubles.
FEDEX RETAINES EARNINGS TARGET FOR 2022, SHARES UP
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| FDX | FEDEX CORP. | 250.32 | +11.80 | + 4.95% |
| UPS | UNITED PARCEL SERVICE INC. | 206.59 | -1.38 | -0.66% |
Electric car newcomer Rivian Automotive grossed $ 1.23 billion Annual deficit in the third quarter due to costs from the start of production of his pickup.
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| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| RIVN | RIVIAN AUTOMOTIVE INC. | 97.70 | -11.17 | -10.26% |
Darden, the mother of Olive Garden and Red Lobster, announced that CEO Eugene Lee will be stepping down in May next year and being replaced by Ricardo Cardenas, the current President and Chief Operating Officer.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| DRI | DARDEN RESTAURANTS INC. | 139.83 | -7.30 | -4.96% |
UNEMPLOYMENT ENTITLES LISTED AT 206,000
Overseas, the Bank of Japan said Friday it would be scaling back some of its pandemic support measures and reducing corporate bond purchases to pre-crisis levels after March. In addition, the additional support for small business lending has been extended by six months. But his board meeting otherwise kept the ultra-loose monetary policy largely unchanged.
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Ken Martin of FOX Business and The Associated Press contributed to this report.
