Stocks Finish Lower Ahead of Payrolls Data

Gold sinks to six-week bottom on Fed comments

Managing Editor
Jan 6, 2022 at 4:39 PM
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U.S. markets fought to climb higher for most of today's session, after Wednesday's steep tech and Fed-related selloff. However, the Dow closed with a triple-digit drop, while the Nasdaq and S&P 500 also inched into the red by the end of the day. Investors are still digesting the Fed's hawkish stance of tapering stimulus by the summer, as Wall Street awaits tomorrow's release of payrolls data.

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

  • New York Times stock jumps on acquisition buzz
  • FAANG partnership gives software stock a boost
  • Plus, the sinking weed stock; Hasbro's CEO shakeup; and the blue chip brushing off good news.

The Dow Jones Average (DJI - 36,236.47) shed 170.64 points, or 0.5% for the day. Travelers (TRV) led the gainers today, adding 1.6%, and UnitedHealth (UNH) paced the laggards with a 4.1% fall.

The S&P 500 Index (SPX - 4,696.05) slipped 4.5 points, or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC -  15,080.87) moved 19.3 points lower, or down 0.1% for today's session.

Lastly, the CBOE Volatility Index (VIX - 19.61) lost 0.1 point, or 0.6% for the day.

Closing Indexes Summary Jan 6

NYSE and Nasdaq Stats Jan 6

  1. Bitcoin (BTC) and other cryptocurrencies are taking a hit today, after Wednesday night's hawkish comments from the Federal Reserve's December meeting minutes. (CNBC)
  2. On the one-year anniversary of the Jan. 6 Capitol Hill attack in Washington D.C., President Joe Biden in a speech pressed that the cause lay at the feet of predecessor Donald Trump's "web of lies," to which Trump issued several statements. (Reuters)
  3. The weed stock hitting fresh pre-earnings lows.
  4. CEO buzz puts big name toymaker in the spotlight.
  5. Blue-chip stock just brushed off an earnings beat-and-raise.

Corporate Earnings Jan 6

Unusual Options Volume Jan 6

Gold Gutted to 6-Week Low on Fed Comments

Crude extended yesterday's rally, topping the round $80 mark in the afternoon and landing its fourth-straight session of gains, as unrest grows in major oil production region Kazakhstan, and Libya suffers supply outages. February-dated oil added $1.61, or 2.1%, to finish at $79.49 per barrel.

Gold futures sank to six-week lows as bullion buyers grew uneasy over the Fed's policy comments, which suggested an increase in rates may be on the horizon. February-dated gold shed $35.90, or 2%, to close at $1,789.20 per ounce.

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