Dow, S&P Snap Losing Streaks as Interest Rates Take Backseat

Oil tallied a two-month high

Managing Editor
Jan 11, 2022 at 4:29 PM
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The Dow and S&P 500 snapped their multi-day losing streaks, as U.S. markets brushed off rising interest rates. Investors are buying into the recent dip in tech, and the Nasdaq also added a solid 210 points in Tuesday's session. Meanwhile, big-cap tech backed the broader market, with (AMZN), Apple (AAPL), and Meta Platforms (FB), all jumping at least 1.5%.

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

  • How 1 major retail stock is kicking off 2022.
  • Dive into another Schaeffer's top stock pick for the new year.
  • Plus, what Costco could still salvage; auto giant brushes off data disappointment; and double upgrade lifts network name.

The Dow Jones Average (DJI - 36,252.02) added 183.2 points, or 0.5% for the day. Boeing (BA) led the gainers today, adding 3.2%, and IBM (IBM) paced the laggards with a 1.6% fall.

The S&P 500 Index (SPX - 4,713.07) climbed 42.8 points, or 0.9% for the day. Meanwhile, the Nasdaq Composite (IXIC -  15,153.45) jumped 210.6 points higher, or 1.4%, for today's session.

Lastly, the CBOE Volatility Index (VIX - 18.41) shed 1 point, or 5.1% for the day.

Closing Indexes Summary Jan 11

NYSE and Nasdaq Stats Jan 11

  1. New York Governor Kathy Hochul said the omicron surge in the state seems to be stabilizing, or “cresting over that peak.” (Bloomberg)
  2. Walgreens Boots Alliance (WBA) is initiating a strategic review of its U.K.-based Boots drugstore chain. CEO Roz Brewer did not specify whether or not it would end in a sale of the business. (CNBC)
  3. Could Costco stock salvage its early 2022 losses?
  4. Auto name brushing off mediocre output data.
  5. Data network stock surges on double upgrade.

No earnings of note today.

Unusual Options Activity Jan 11

Oil Jumps Higher as Demand Outlook Stabilizes 

Oil prices managed to mark a two-month high this afternoon, as the broader global demand outlook remains stable. February-dated oil added $2.99, or almost 3.8%, to finish at $81.22 per barrel.

Gold futures climbed higher for a third session, after comments from Federal Reserve Chairman Jerome Powell at his second-term confirmation hearing failed to sway investors in either direction. February-dated gold added $19.70, or 1.1%, to close at $1,818.50 per ounce. 

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