Major Indexes Walk Into Christmas With 3 Straight Wins

Investors had plenty of data to unpack ahead of the holiday

Digital Content Manager
Dec 23, 2021 at 4:32 PM
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Wall Street was feeling merry ahead of the Christmas break tomorrow, thanks to new data easing Covid-19 concerns and the emergency authorization for the Pfizer (PFE) and Merck (MRK) antiviral pills. The Dow settled with a 196-point gain, while both the S&P 500 and Nasdaq walked away with solid wins as well, as all three extended their win streaks for a third-straight session. All three major benchmarks gained during the holiday-shortened week as well.

Investors also had a batch of economic data to unpack today. More specifically, jobs data for last week was in line with analysts' estimates, while personal consumption expenditures (PCE) and core PCE data was higher-than-expected, indicating inflation is still red-hot.

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

  • This shareholder raised its stake in Stitch Fix stock.
  • Buyout buzz boosted this medical equipment name.
  • Plus, casino stocks enjoy Macau tailwinds; Crocs stock dips despite acquisition; and what's next for THC-infused beverages?

The Dow Jones Average (DJI - 35,950.56) rose 196.7 points, or 0.6% for the day, and 1.7% for the week. Caterpillar (CAT) led the gainers, adding 2%, while Visa (V) paced the laggards with a 0.6% fall.

The S&P 500 Index (SPX - 4,725.79) added 29.2 points, or 0.6% for the day, and 2.3% for the week. Meanwhile, the Nasdaq Composite (IXIC - 15,653.37) jumped 131.5 points, or 0.9% for the day, and 3.2% for the week. 

Lastly, the CBOE Volatility Index (VIX - 17.96) shed less than 1 point, or 3.6% for the day, and 16.6% for the week. 

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  1. Federal prosecutors accused moving concern 11Even Movers of suddenly tripling prices on dozens of customers during the pandemic, raking in almost $340,000 in fees. (MarketWatch)
  2. New home sales for November were down 14% from a year ago, as the median price of a newly built home rose nearly 19% for the month, even as supplies rise.  (CNBC)
  3. Wynn stock enjoyed tailwinds after a regulatory update in Macau.
  4. Crocs stock slipped after acquiring its competitor for $2.5 billion.
  5. The future of THC-infused beverages, according to this expert.

There were no notable earnings reports today.

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Oil, Gold Prices Pop on Upbeat Covid-19 Headlines

Oil prices edged higher on Thursday to notch a monthly high. Boosting black gold today was fresh data showing the omicron variant may be less severe than other strains, and that Covid-19 vaccine booster shots are effective in fighting it. February-dated crude added $1.03, or 1.4%, to finish at $73.79 per barrel. For the week, oil added 4%.

Gold prices were also higher, notching a third-straight weekly win, and its highest close in five weeks. New Covid-19 treatments and updates boosted the yellow metal, which had been weighed down in recent weeks by pandemic uncertainties. February-dated gold rose $9.50, or 0.5%, to close at $1,811.70 per ounce. Gold added 0.4% for the week.

 

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