Stocks Finish Volatile Week with a Whimper

Disappointing jobs data for November added to Wall Street's pressures

Digital Content Manager
Dec 3, 2021 at 4:32 PM
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The major benchmarks ended a wacky week of trading with a whimper. The Dow shed 59 points for its fourth-straight weekly loss, while the S&P 500 and tech-heavy Nasdaq fell sharply as well, for their second-straight week in the red. Amid this sharp correction, the Cboe Volatility Index (VIX) scored its third-straight weekly win and toppled the 35 level earlier in the day for the first time since Jan. 29.

The omicron strain once again cast a pall over Wall Street, though today's price action was exacerbated by a lackluster nonfarm payrolls report. Reopening stocks, especially those in the travel sector, were among the hardest-hit, after doctors predicted omicron could "dominate and overwhelm" in the next few months.

Continue reading for more on today's market, including:

  • Fresh coverage couldn't get Peloton stock going again.
  • See why DocuSign stock was in the Nasdaq's basement today.
  • Plus, a tech stock bucking the broad market selloff; NIO's new headwinds; and the pizza chain for options bulls.

The Dow Jones Average (DJI - 34,580.08) fell 59.7 points, or 0.2% for the day, and 0.9% for the week. Walgreens Boots Alliance (WBA) led the gainers, adding 4.3%, while Microsoft (MSFT) paced the laggards with an 2% drop.

The S&P 500 Index (SPX - 4,538.43) shed 38.7 points, or 0.8% for the day, and 1.1% for the week. Meanwhile, the Nasdaq Composite (IXIC - 15,085.47) lost 295.9, or 1.9% for the day, and 2.6% for the week.

Lastly, the CBOE Volatility Index (VIX - 30.67) added 2.7 points, or 9.7% for the day, and 7.4% for the week.



  1. Almost 2.2 million Covid-19 vaccine shots were administered over a 24-hour period that ended on Thursday -- the largest single-day total since May -- following omicron variant reports. (CNBC)
  2. Alphabet (GOOGL) is pausing plans to bring workers back to the office on Jan. 10 due to the omicron variant, noting it will revisit the decision in 2022. (MarketWatch)
  3. One tech stock that defied the sector selloff.
  4. Nio stock sank after China-based counterpart looked to delist.
  5. Even after today, this pizza stock looks like a solid bet for options bulls.



Oil Prices Log Daily, Weekly Losses on Lingering Fears

Oil prices settled lower on Friday, while also logging their sixth-straight weekly drop. Fears regarding the omicron variant and the impact it may have on demand were largely to blame for today's negative price action. In turn, January-dated crude fell 0.4%, or 24 cents, to close at $66.26 per barrel, while also registering a 2.8% weekly loss.

Meanwhile, gold prices settled higher today, but still walked away with a 0.1% loss for the week. Disappointing jobs data for November gave the shiny metal a leg up, though investors are still concerned about deflation. For the day, February-dated gold added $21.20, or 1.2% to close at $1,783.90 per ounce.



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