Stocks Close Mixed to Start Last Week of the Year

The Nasdaq dropped triple digits as Tesla stock fell

Deputy Editor
Dec 27, 2022 at 4:26 PM
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The Dow was the only winner amongst the major indexes today, adding 37 points. China's plan to ease Covid restrictions for inbound travelers starting in January wasn't enough to pull the rest of the market higher, however. Both fresh off their third-straight weekly losses, the Nasdaq and S&P 500 closed lower, with the former staging triple-digit drop as Tesla (TSLA) once more weighed on the tech sector.

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

  • This is the best performing Dow stock of 2022. 
  • Buy the dip on Enphase stock
  • Plus, China stocks boosted; winter weather pressures airliners; and NIO outlook falters. 

Closing Indexes Summary Dec 27

NYSE and Nasdaq Stats Dec 27

5 Things to Know Today 

  1. Tesla (TSLA) stock has fallen now for seven-straight days, its longest losing streak since 2018. Elon Musk's electric car company is on track for its worst year ever(MarketWatch)
  2. CEO of AMC, Adam Aron, has asked for a salary freeze amid the sharp drop in share price. (Reuters)
  3. China-based stocks get a lift from eased Covid restrictions. 
  4. Airline stocks move lower as flight cancellations escalate. 
  5. Electric vehicle (EV) stock falls on disappointing outlook

There were no earnings of note today.

Unusual Options Activity Dec 27

Oil Static, Gold Separates From $1,800

Oil prices took a breather today, with winter weather in focus with U.S. refineries. West Texas Intermediate (WTI) crude for January delivery shed 3 cents, to settle at $79.53 per barrel.

Gold prices settled higher for the second-straight session. February-dated gold  rose $18.90, or 1.1%, to settle at $1,823.10 per ounce. 

 

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