Stocks Log Steep Losses as Fed Meeting Looms Large

The U.K. reported a Covid-19 patient infected with the omicron strain died

Digital Content Manager
Dec 13, 2021 at 4:26 PM
facebook X logo linkedin


Concerns over the Covid-19 omicron variant weighed on the markets again on Monday. The Dow shed 320 points, after U.K. Prime Minister Boris Johnson confirmed a patient who was infected with the strain died, and the U.S. hit the grim milestone of 800,000 Covid-19 deaths. The tech-heavy Nasdaq and S&P 500 also logged substantial losses, with travel stocks bearing the brunt of today's pullback.

Elsewhere, the Supreme Court refused a bid to block the vaccine mandate for healthcare workers in New York. Investors are also looking ahead to the Federal Reserve's two-day policy meeting that begins tomorrow. The central bank is expected to accelerate the tapering of economic stimulus, following the hottest inflation reading in nearly 40 years.

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

  • Pharma stock bags annual highs on upbeat study results.
  • Electric motorcycle merger sends Harley-Davidson stock higher.
  • Plus, FedEx stock's pre-earnings pullback; a FAANG stock to buy on the dip; and 2 cloud stocks joining the NDX.

The Dow Jones Average (DJI - 35,650.95) fell 320 points, or 0.9% for the day. Coca-Cola (KO) led the gainers, adding 2.6%, while Boeing (BA) paced the laggards with a 3.7% fall.

The S&P 500 Index (SPX - 4,668.97) shed 43.1 points, or 0.9% for the day.. Meanwhile, the Nasdaq Composite (IXIC - 15,413.28) shaved 217.3, or 1.4% for the day.

Lastly, the CBOE Volatility Index (VIX - 20.31) shed 1.6 points, or 8.7% for the day.

indexesdec13

NYSEdec13

  1. Vox Media is in advanced talks to buy digital media company Group Nine, which owns digital assets including PopSugar and NowThis, in an all stock deal. (CNBC)
  2.  UBS upgraded Pfizer (PFE) to "buy" from "neutral" after the company said today it will acquire Arena Pharmaceuticals (ARNA) for roughly $6.7 billion. (MarketWatch) 
  3. FedEx stock took a breather ahead of this week's quarterly report.
  4. Why Amazon.com stock's pullback could be a short-lived.
  5. These 2 cloud stocks will join the Nasdaq-100 this month.

There were no earnings reports of note today.

UVOLdec13

Gold Nabs 3-Week High Despite Muted Trading Session

Oil prices finished lower on Monday, as investors continued to assess what risks the Covid-19 omicron variant pose, as well as how it may influence energy demand. January-dated crude dropped 38 cents, or 0.5%, to finish at $71.29 per barrel.

Meanwhile, gold prices settled at their highest level in three weeks, while notching their second consecutive win. The yellow metal's gains were relatively muted, however, ahead of the Fed meeting. In response, February-dated gold rose $3.50, or 0.2%, to close at $1,788.30 per ounce.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI