Stocks Snap Losing Streaks Following Afternoon Rally

Wall Street shook off overseas concerns by the end of the day

Deputy Editor
Dec 20, 2022 at 4:29 PM
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Though the Bank of Japan's (BoJ) decision to widen its cap on the 10-year Japanese government bond yield threw the U.S. market for a loop this morning, stocks managed gains by the end of the day.

All three major benchmarks snapped their four-day losing streaks, with the Dow finishing the day 92 points higher. The S&P 500 and Nasdaq logged more muted gains, settling just above breakeven, while the Cboe Volatility Index (VIX) fell for the third-straight day. 

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

  • Buy the dip on this restaurant stock.
  • Stitch Fix stock hit record low after downgrade. 
  • Plus, trouble brewing for General Mills; call traders play RKLB; and an EV stock off record lows. 

Closing Indexes Summary Dec 20

NYSE and Nasdaq Stats Dec 20

5 Things to Know Today 

  1. Broadcom Inc.’s acquisition of VMware Inc. is being investigated by the European Union (EU) for anticompetitive concerns. (MarketWatch)
  2. An earthquake in northern California has left thousands without power. (Reuters)
  3. General Mills stock brushes off results as pet business disappoints
  4. Rocket Lab USA has seen more calls than usual of late. 
  5. See why Lucid Motors stock was trending today. 

There were no earnings of note today.

Unusual Options Activity Dec 20

Oil, Gold Rise

Oil prices continued their rise despite surging Covid-19 cases in China. West Texas Intermediate (WTI) crude for January delivery added 90 cents, or 1.3%, to end at $76.19 a barrel.

Gold prices rose after the Bank of Japan's decision put pressure on the U.S. dollar. February-dated gold rose $27.70, or 1.5%, to finish at $1,825.40 per ounce. 

 

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