Dow, S&P 500 Snap Win Streaks But Notch Record Highs

Wall Street's "fear gauge" snapped a six-day losing streak

Digital Content Manager
Dec 30, 2021 at 4:29 PM
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The Dow saw its six-day win streak snap today, but that doesn't tell the whole story. The blue-chip index notched an intraday record, and was up triple digits at its session highs, only to pare those gains in the last half hour of trading. The S&P 500 and Nasdaq finished modestly lower as well, with the former also hitting an intraday high, and the latter weighed down by a cooling chip sector. Nevertheless, all three indexes are pacing for monthly, quarterly, and yearly wins tomorrow. Elsewhere, the CBOE Volatility Index (VIX) snapped its six-day losing streak.

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

  • This FAANG stock is among the best to own in January.
  • Options traders are blasting AMC Entertainment stock.
  • Plus, the scoop on KR options; why this airline cut flights; and MicroStrategy buys more bitcoin.

The Dow Jones Average (DJI - 36,398.08) fell 90.6 points, or 0.3% for the day. Walt Disney (DIS) led the gainers, adding 0.7%, while Procter & Gamble (PG) paced the laggards with a 0.9% fall.

The S&P 500 Index (SPX - 4,778.73) shed 14.3 points, or 0.3% for the day. Meanwhile, the Nasdaq Composite (IXIC -  15,741.56) dropped 24.7 points, or 0.2% for the day.

Lastly, the CBOE Volatility Index (VIX - 17.33) rose 0.4 point, or 2.2% for the day.

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  1.  The Centers for Disease Control and Prevention (CDC) warned against cruise travel for all Americans, despite their Covid-19 vaccination status. (MarketWatch)
  2. Blue chip Walmart (WMT) saw more pickup orders than any other U.S. retailer this year, driving 25.4% of all of them, or the equivalent of $20.4 billion in sales. (CNBC)
  3. Why Kroger stock saw an uptick in options activity today.
  4. Covid-19 cancellations are weighing on this airline stock.
  5. MicroStrategy bought another 1,914 bitcoins this month.

There were no notable earnings reports today.

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Oil Prices Notch Best Close Since November

Oil prices settled at their highest level since November on Thursday, while also notching their seventh consecutive win. Easing Covid-19 fears, as well as indication that energy demand remains strong, boosted black gold. In turn, February-dated crude added 43 cents, or 0.6%, to finish at $76.99 per barrel.

Gold prices settled higher as well, as investors brushed off a strengthening U.S. dollar. Lower Treasury yields also helped the precious metal hold out above the psychologically significant $1,800 level. February-dated gold rose $8.30, or 0.5%, to close at $1,814.10 per ounce.

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