January 28, 2022

Vision Cim

Thank Business Its Friday

Stocks post losses ending roller coaster week

U.S. stocks finished the session lower in another choppy session as traders digested a mixed jobs report along with hawkish comments from Federal Reserve Bank of St. Louis President James Bullard. 

Bullard, who will be a voting member of the Fed next year, highlighted the “unexpected inflation shock in the U.S.” as monetary policy remains “very accommodative” in a speech. 

“These considerations suggest, on balance, that the Federal Open Market Committee should remove monetary policy accommodation,” he said.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34580.08 -59.71 -0.17%
SP500 S&P 500 4538.43 -38.67 -0.84%
I:COMP NASDAQ COMPOSITE INDEX 15085.471504 -295.85 -1.92%

The Dow Jones Industrial Average fell over 57 points or 0.17%, while the S&P 500 and Nasdaq Composite fell 0.8% and 1.9%, respectively capping off a volatile week. 

This after the Labor Department reported that the U.S. economy added just 210,000 new nonfarm jobs last month, well below October’s stronger-than-expected tally of 546,000, which was revised higher. The unemployment rate fell to 4.2% from 4.5%. 

Oil also climbed over 2% to the $66 per barrel level still oil majors declined. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 48.00 -0.30 -0.62%
XOM EXXON MOBIL CORP. 60.89 -0.39 -0.64%
CVX CHEVRON CORP. 114.41 -0.73 -0.63%

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In stocks, vaccine makers are in focus on a report the FDA is working with these companies for a speedy rollout of “testing and manufacturing guidelines” for the omicron variant, according to the Wall Street Journal.   

Ticker Security Last Change Change %
MRNA MODERNA, INC. 306.72 +5.23 +1.73%
PFE PFIZER INC. 54.27 +1.23 +2.32%
BNTX BIONTECH SE 344.06 +10.57 +3.17%
JNJ JOHNSON & JOHNSON 159.38 +2.29 +1.46%

Nvidia and ARM are set to face an uphill battle over a $40 billion merger after the Federal Trade Commission said it will move to block the deal. 

Ticker Security Last Change Change %
NVDA NVIDIA CORP. 306.93 -14.33 -4.46%

Zillow ticked higher after the company said it was making progress in winding down its home-flipping business and announced a stock buyback.

Ticker Security Last Change Change %
ZM ZOOM VIDEO COMMUNICATIONS, INC. 183.92 -7.83 -4.08%

Tesla shares are in focus after CEO Elon Musk sold another chunk of shares, about 1 million worth around $1 billion.

Ticker Security Last Change Change %
TSLA TESLA, INC. 1,014.97 -69.63 -6.42%

Chinese ride-hailing service Didi Global said Friday it will pull out of the New York Stock Exchange and shift its listing to Hong Kong as the ruling Communist Party tightens control over tech industries.

CHINA’S DIDI TO LEAVE US STOCK MARKET AMID TECH CRACKDOWN

Ticker Security Last Change Change %
DIDI DIDI GLOBAL INC 6.07 -1.74 -22.24%

The Securities and Exchange Commission has moved to require that U.S.-listed foreign stocks like Didi disclose their ownership structures and audit reports, which could lead to some of them being delisted.

Ticker Security Last Change Change %
DOCU DOCUSIGN, INC. 135.09 -98.73 -42.22%

DocuSign shares fell by the most on record, over 40%, after revenue may be as much as $563 million, below the $573 million estimate among analysts.

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