Dow Ends Flat as S&P 500, Nasdaq Snap Win Streaks

The Dow gave back modest gains in the final minutes of trading

Digital Content Manager
Dec 9, 2021 at 4:30 PM
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Wall Street was all over the place on Thursday, with the Dow drifting in and out of positive territory to ultimately finish unchanged. The S&P 500 and Nasdaq were not as fortunate, both snapping three-day win streaks amid a bout of profit taking, with the latter logging its 10th-straight triple-digit move.

Traders are now turning their attention to tomorrow's consumer price index (CPI) for November. Economists are expecting a high inflation reading, which may in turn prompt the Federal Reserve to begin tapering off economic stimulus sooner than previously anticipated. 

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

  • Options traders blasted GameStop stock after earnings.
  • Late-stage trial data gave this biotech stock a leg up.
  • Plus, EV stock earns analyst praise; buy the dip on CAR; and FuboTV stock bounces back.

The Dow Jones Average (DJI - 35,754.69) fell less than 1 point, or was flat for the day. Walmart (WMT) led the gainers, adding 1.4%, while Intel (INTC) paced the laggards with a 2.5% fall.

The S&P 500 Index (SPX - 4,667.45) shed 33.8 points, or 0.7% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,517.37) shaved 269.6, or 1.7% for the day.

Lastly, the CBOE Volatility Index (VIX - 21.58) added 1.7 points, or 8.5% for the day.

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  1. Ford Motor (F) needs electric vehicle batteries more than it needs semiconductor chips, after reservations for its electric F-150 model reached 200,000 units. (CNBC)
  2. Centers for Disease Control (CDC) Director Rochelle Walensky said U.S. omicron cases have been mild, but 75% of them are among the vaccinated. (MarketWatch) 
  3. The electric vehicle stock getting praised by J.P. Morgan Securities. 
  4. What analysts seem to have missed about Avis Budget Group stock.
  5. Struggling FuboTV stock bounced back today on a fresh bull note.

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Oil Prices Tumble on Omicron Transmissibility

Oil prices settled lower on Thursday, tumbling from their two-week highs. Investors were once again concerned about the impact the omicron variant may have on crude demand, after a study out of Japan showed the strain is over four times more transmissible than the delta variant. In response, January-dated crude shaved off $1.42, or 2%, to finish at $70.94 per barrel.

Gold prices settled lower as well to log their first loss in three sessions. Contributing to the precious metal's lackluster price action was the U.S. dollar's regained strength. Plus, omicron variant fears are still keeping investors at bay. As a result, February-dated gold shed $8.80, or 0.5%, to close at $1,776.70 per ounce.

 




 
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