January 25, 2022

Vision Cim

Thank Business Its Friday

Nasdaq, S&P rise 1% driving day two of stock gains

U.S. stocks rose for the second straight session as traders digested positive economic news and the Food and Drug Administration’s approval of  Pfizer’s COVID-19 pill for use in adults and children ages 12 and older. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35753.89 +261.19 +0.74%
SP500 S&P 500 4696.56 +47.33 +1.02%
I:COMP NASDAQ COMPOSITE INDEX 15521.89237 +180.81 +1.18%

The Dow Jones Industrial Average rose 261 points or 0.6% building on its 560 point advance on Tuesday while the S&P 500 and Nasdaq Composite rose 1% each. 

Positive economic data included an uptick in the Consumer Confidence Index to the best level since July, a better than expected 3Q GDP report of 2.3%, albeit well below July’s 6.7% jump and home sales that rose 1.9%. 

And the fight against COVID-19 also helped sentiment after the FDA said an oral pill to treat the virus is a game-changer. 

“Today’s authorization introduces the first treatment for COVID-19 that is in the form of a pill that is taken orally — a major step forward in the fight against this global pandemic,” said Patrizia Cavazzoni, M.D., director of the FDA’s Center for Drug Evaluation and Research in a statement. Merck is also waiting on the FDA for its oral treatment. 

Ticker Security Last Change Change %
PFE PFIZER INC. 59.55 +0.60 +1.02%
MRK MERCK & CO. INC. 76.16 +0.62 +0.82%

Other vaccine makers remained active among investors as rising cases of COVID-19 get reported and as Americans seek booster shots.  

Ticker Security Last Change Change %
MRNA MODERNA INC. 251.36 -16.78 -6.26%
PFE PFIZER INC. 59.55 +0.60 +1.02%
BNTX BIONTECH SE 259.70 -11.76 -4.33%

Tesla shares rose after CEO Elon Musk signaled his year-end stock selling spree is over, for now, according to an interview he gave to the Babylon Bee. 

Ticker Security Last Change Change %
TSLA TESLA INC. 1,008.87 +70.34 +7.49%

Caterpillar was among the Dow’s top stocks after Bernstein upgraded the shares to an outperform forecasting a $240 price target. Deere slipped. 

Ticker Security Last Change Change %
CAT CATERPILLAR INC. 202.15 +3.84 +1.94%
DE DEERE & CO. 347.00 -2.81 -0.80%

Amazon shares also rose despite another morning outage of AWS – its cloud service which knocked multiple workplaces offline. 

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 3,420.74 +12.40 +0.36%

In earnings, BlackBerry shares reversed earlier losses to close with a gain after it reported better than expected quarterly results. Through Tuesday, the shares have gained 39%.

Ticker Security Last Change Change %
BB BLACKBERRY LTD. 9.41 +0.16 +1.73%

Apparel maker Naked Brand is active as it began trading post a 1-for-15 split-adjusted basis.

Ticker Security Last Change Change %
NAKD NAKED BRAND GROUP 6.25 -0.98 -13.52%

US PENDING HOME SALES UNEXPECTEDLY FALL IN SEPTEMBER

In commodities, oil closed higher at $72.76 per barrel level with an unexpected 4.7 million barrel drop in weekly inventories as reported by the EIA. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 52.48 +0.91 +1.76%

MAERSK STRIKES DEAL TO BUY LF LOGISTICS FOR $3.6 BLN

In global deals, AP Moeller-Maersk AS said it has agreed to buy LF Logistics Holdings Ltd. in an all-cash deal. The Danish shipping company said it would acquire 100% of the private, Asia-Pacific-based logistics company for an enterprise value of $3.6 billion.

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FOX Business’ Ken Martin and The Associated Press contributed to this report.