Skip to main content

U.S. equities finish higher to extend yesterday's gains

U.S. equities finished higher to extend yesterday's gains, after a better-than-expected Consumer Confidence report showed increasing optimism. Despite the improved outlook, investors continued to grapple with the uncertainties surrounding the omicron variant and its economic impact. 

President Biden spoke on COVID yesterday afternoon, announcing plans to distribute free at-home COVID testing kits and dispatch 1,000 members of the military to support hospitals, while avoiding any mention of lockdowns. 

In other economic news, existing home sales rose for the third consecutive month, albeit at a smaller-than-expected pace, Q3 GDP was revised slightly higher and mortgage applications declined. On the equity front, Pfizer’s Paxlovid oral pill was granted an emergency use authorization by the U.S. Food and Drug Administration (FDA) for treatment of COVID-19 disease in high-risk adults and pediatric patients, 

CarMax posted upbeat quarterly results on record auto sales, while BlackBerry broke even for the quarter, but disappointed the Street with its guidance. Treasuries were mixed, and the U.S. dollar dipped, while crude oil prices were higher, and gold advanced. Europe finished broadly higher and Asia mostly advanced.

The Dow Jones Industrial Average increased 261 points (0.7%) to 35,754, the S&P 500 Index rose 47 points (1.0%) to 4,697, and the Nasdaq Composite gained 181 points (1.2%) to 15,522. In lighter volume, 3.2 billion shares of NYSE-listed stocks were traded, and 4.0 billion shares changed hands on the Nasdaq. 

WTI crude oil moved $1.64 higher to $72.76 per barrel. Elsewhere, the gold spot price gained $16.30 to $1,805.00 per ounce, and the Dollar Index—a comparison of the U.S. dollar to six major world currencies—was 0.5% lower at 96.04.
Labels:

Comments

Post a Comment

Thanks for the comment. Will get back to you as soon as convenient, if necessary.

Popular posts from this blog

California: A Model for the Rest of the Country, Part 2

Part 1 here . On Leaving the Golden State Guest Post by NicklethroweR . Posted on the Burning Platform. The fabled Ventura Highway is all that separates my artist loft from the beach where surfing first came to the United States. Both my balcony and front patio face the freeway at about eye level and I could easily smack a tennis ball right on to the ever busy 101. Access to the beach and boardwalk is very important to a Tourist Town such as mine and I can see one underpass from my balcony and another underpass from the patio. Further up the street are two pedestrian bridges. Both have been recently remodeled so that people can not use it to kill themselves by leaping down into traffic. The traffic, just like the spice, must flow and the elites that live here do not like to be inconvenienced as they dart about between Malibu and Santa Barbara. Another feature of living where I live would have to be the homeless, the insane and the drug addicts that wander this particular
Post a Comment
Read more

Proper way to calculate CAGR using T-Sql for SQL Server

After reading (and attempting the solutions offered in some) several articles about SQL and CAGR,  I have reached the conclusion that none of them would stand testing in a real-world environment. For one thing, the SQL queries offered as examples are overly complex or don't use the correct math for calculating proper CAGR. Since most DBAs don't have an MBA or Finance degree, let me help.  The correct equation for calculating Compound Annual Growth Rate (as a percentage) is:  Some key points about CAGR:  The compounded annual growth rate (CAGR) is one of the most accurate ways to calculate and determine returns for anything that can rise or fall in value over time. Investors can compare the CAGR of two alternatives to evaluate how well one stock performed against other stocks in a peer group or a market index. The CAGR does not reflect investment risk. You can read a full article about CAGR  here .  To calculate the CAGR for an investment in a language like VB is pretty straight
Post a Comment
Read more

Top Five Consumer Cyber Security FAQs

Business, technology, environmental and economic changes are a part of life, and they are coming faster all the time. All of these changes and advancements can be distracting and make us more vulnerable to cyber scams. That's why protecting your credit is a critical part of protecting yourself from cyber security threats. Security researchers have reported that hackers and scammers are using any opportunity or vulnerability to target both individuals and companies. You may have already seen these attempts in the form of fake emails or calls. Here are the top five questions Equifax ®  has received about how individuals can protect themselves from cyber security threats and help to improve your credit protection. 1. How can I better protect my credit? Check your credit reports frequently. You can get free credit reports from the nationwide credit reporting agencies (Equifax, Experian ®  and TransUnion ® ) at annualcreditreport.com. Check your credit reports frequently to closely moni
Post a Comment
Read more