The downtrend from last week continued this week as the stock market notched its second straight losing week to start 2022, with all three indexes finishing in negative territory. The NASDAQ shed -0.28%, while the DOW and S&P 500 lost -0.30% and -0.88%, respectively.
Well, 2022 didn't start the way a lot of traders had hoped, I imagine. Stocks fell on Friday to end a rough first trading week of the year, as rising interest rates battered tech shares. The NASDAQ dropped -0.96% to close at 14,935.90. The S&P 500 fell -0.41% to 4,677.03, and the DOW lost 4.81 points or -0.01% to close at 36,231.66.
On a weekly level, the NASDAQ posted its worst week since February 2021, down -4.53% in the first five trading days of 2022. The S&P 500 was off by -1.8%, while the DOW lost only -0.29% as traders rotated out of tech and into some value stocks amid the rising rates. Continue reading "2022 Starts Off With A Thud"→
Typically you'll hear a lot of hype around a Santa Clause rally this time of year, but it's looking more like we'll get a Santa Clause slump. Volatility has been intense this week, just one week after the indexes managed to break their losing streaks, but that momentum didn't carry through.
The DOW dropped 532.20 points Friday or -1.5%, to 35,365.44. The S&P 500 fell -1.03% for a second day to 4,620.64, and the NASDAQ ended the session -0.07% lower at 15,169.68 after briefly trading in the green. At its session low, the NASDAQ had dropped -1.5%.
Despite inflation hitting a 39-year high, the S&P 500 closed at a record on Friday, gaining +0.95% to 4,712.02, capping off a strong rally this week. The DOW gained 216.30 points or +0.60%, to 35,970.99, and the NASDAQ climbed +0.73% to close at 15,630.60.
After a disappointing November jobs report, the stock market dropped on Friday as the market wrapped up a roller-coaster week driven by COVID Omicron variant concerns. The most significant sector hit was the tech sector, with the NASDAQ losing -1.92% to finish the day at 15,085.47. The DOW fell 59.71 points or -0.17% to close at 34,580.08, and the S&P 500 dropped -0.84% to end at 4,538.43.
Despite a 600 point rebound on Thursday, the DOW dropped -0.91% for the week marking four straight weeks of losses. The S&P 500 fell -1.22% for its second straight week of losses, and the NASDAQ capped off the week, losing -2.62%, marking its second straight week of losses. Continue reading "Tech Sell-Off Drags Market Lower"→