US stocks ended the first week of trading in 2022 on a downtrend that fell across the board on Friday, with all three major averages posting weekly losses.
The Nasdaq Composite fell nearly 1%, the S&P 500 0.4%, while the Dow Jones Industrials closed with little change.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGE VALUES | 36231.66 | -4.81 | -0.01% |
| SP500 | S&P 500 | 4677.03 | -19.02 | -0.41% |
| Me: COMP | NASDAQ COMPOSITE INDEX | 14935.901709 | -144.96 | -0.96% |
During the week, the Nasdaq headed the decline with a 4.5% sell-off, the S&P down 1.8% and the Dow less than 0.3%.
The bonds continued to rise. The yield on 10-year government bonds rose to nearly 1.8%, a two-year high. Financial stocks rallied as higher yields bode well for banks.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| XLF | FINANCIAL SELECT SECTOR SPDR ETF | 41.17 | +0.48 | + 1.18% |
| JPM | JPMORGAN CHASE & CO. | 167.16 | +1.64 | + 0.99% |
| BAC | BANK OF AMERICA CORP. | 49.18 | +1.05 | + 2.18% |
| C. | CITIGROUP INC. | 65.78 | +0.87 | +1.34% |
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According to economic news, the number of non-farm workers rose 199,000 in December, less than 400,000 economists had expected, although the unemployment rate fell to 3.9%. “Leisure and hospitality, in professional and business services, in manufacturing, in construction, and in transportation and storage,” added the workers, according to the Ministry of Labor.
FED, OPEC’S PUNY PRODUCTION MOVES OIL TO $ 80
Oil briefly topped $ 80 a barrel before settling at $ 78.90 a barrel, which put oil producers on the radar.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| USE | UNITED STATES OIL FUND LP | 56.67 | -0.22 | -0.39% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 21.96 | -0.01 | -0.05% |
| XOM | EXXON MOBIL CORP. | 68.88 | +0.56 | + 0.82% |
| CVX | CHEVRON CORP. | 125.03 | +1.77 | +1.44% |
UNEMPLOYMENT EMPLOYEES TICK UP TO 207,000 BUT REMAINING LOW FOR NEAR HALF A CENTURY
In stocks, GameStop Corp’s shares rose after a report in the Wall Street Journal said the retailer is establishing a division to develop a non-fungible token (NFT) marketplace and cryptocurrency partnerships.
GAMESTOP SHARE RISES ON PLANS TO ENTER NFT AND CRYPTO CURRENCY MARKETS
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 140.62 | +9.59 | + 7.32% |
Big tech names like Apple, Amazon, and Microsoft wavered between losses and gains during the session.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| AAPL | APPLE INC. | 172.17 | +0.17 | + 0.10% |
| AMZN | AMAZON.COM INC. | 3,251.08 | -14.00 | -0.43% |
| MSFT | MICROSOFT CORP. | 314.04 | +0.16 | + 0.05% |
Regardless, Apple CEO Tim Cook earned nearly $ 100 million in compensation last year, according to SEC filings.
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Ford gave up its early profits after announcing Tuesday that it would double production of its F-150 Lightning.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| F. | FORD MOTOR CO. | 24.44 | -0.02 | -0.08% |
Papa Johns’ shares rose after plans for an aggressive launch in southern China were announced, with plans to open 1,350 new stores by 2040.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| PZZA | PAPA JOHN’S INTERNATIONAL INC. | 127.67 | +1.75 | +1.39% |
and in cryptocurrencies, Bitcoin continued its freefall around $ 41,000, a five-month low.
The move hit crypto-related exchange-traded funds and stocks.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| BITO | PROSHARES TRUST BITCOIN STRATEGY ETF | 26.41 | -0.87 | -3.19% |
| BITQ | EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E. | 18.87 | -0.28 | -1.46% |
| COIN | COINBASE GLOBAL INC. | 232.33 | -1.67 | -0.71% |
| MSTR | MICROSTRATEGY INC. | 482.95 | -15.67 | -3.14% |
Ken Martin of FOX Business and The Associated Press contributed to this report.
