Stock market live news updates: Stocks sink after more bad news on … – Yahoo Finance

Stocks sank on Friday as the U.S. stock market logged its second-straight weekly loss.
At the close, the S&P 500 was down 1.1%, the Dow was off 0.9%, and the Nasdaq fell 1%.
Friday's leg lower for stocks followed preliminary readings on economic activity in the U.S. this month from S&P Global, which showed a further deterioration in activity to start December.
S&P Global's services PMI fell to a four-month low, while its manufacturing index hit a 31-month low in December.
"Business conditions are worsening as 2022 draws to a close, with a steep fall in the PMI indicative of GDP contracting in the fourth quarter at an annualized rate of around 1.5%," said Chris Williamson, chief business economist at S&P Global Market Intelligence. "Jobs growth has meanwhile slowed to a crawl as firms across both manufacturing and services take a much more cautious approach to hiring amid the slump in customer demand."
On Thursday, the November retail sales report was unexpectedly weak, prompting concern over the health of the U.S. consumer, which has been the driver of a better-than-expected economy this year.
Investors also had an eye on crude oil Friday, with WTI futures down more than 3% to trade near $74.30 a barrel. Early this week, oil hit a new 2022 low.
The moves down Friday clinched another week of losses for markets during a historically bullish period. Last week saw the S&P 500 suffer its worst weekly loss since late September.
Friday's trading came after Thursday's deep sell-off that saw the Nasdaq fall more than 3%, as the Federal Reserve's interest-rate increase on Wednesday was followed by matching moves Thursday morning from the Bank of England and the European Central Bank.
On the the earnings calendar, news was light, with Darden Restaurants (DRI) and Winnebago Industries (WGO) both rising after their latest reports.
In crypto markets, bitcoin (BTC-USD) and other major cryptocurrencies were under selling pressure Friday, with bitcoin dropping below $17,000. Earlier this week, bitcoin had risen above $18,000 for the first time since the collapse of FTX in early November.
News accounting firm Mazars had paused its work with Binance and all other crypto firms weighed on the space early Friday.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube
Airlines obviously can't control the weather, but how they handle subsequent delays is of utmost importance. For Southwest Airlines, the inability to get back on track following a storm that rocked…
Southwest Airlines scrubbed thousands of flights again Tuesday in the aftermath of the massive winter storm that wrecked Christmas travel plans across the U.S., and the federal government said it would investigate why the company lagged so far behind other carriers.
The dollar rallied by as much as 0.67% against the yen to 134.40 in Asian trading, the most since Dec. 20, when the Bank of Japan sent the pair spiralling lower with an unexpected loosening of the 10-year Japanese government bond yield policy band. "It basically confirmed that the BOJ surprise from last week was a one-off, but from a longer-term viewpoint nobody believes it," said Osamu Takashima, head of G10 FX strategy at Citigroup Global Markets Japan. The dollar was last up 0.21% against the Japanese yen at 133.785.
U.S. stocks closed mixed Tuesday after Wall Street returned from the long holiday weekend to barrel through the final four trading days of 2022.
(Bloomberg) — Tech dragged stocks lower as Treasury yields climbed, with markets digesting prospects for growth and inflation from China’s rollback of Covid isolation measures.Most Read from BloombergMilan Reports 50% of Passengers on China Flights Have CovidSouthwest Air Memos Showed Growing Alarm on Eve of Epic Winter StormRussia Says Ukraine Must Surrender Even as Putin’s Army RetreatsSouth Korea Sends Drones to Kim Jong Un’s Airspace in Unprecedented MoveAlameda Lent Sam Bankman-Fried $546
And what it means for your ability to build wealth.
All's well that ends well in the stock market — and as trading winds down in what has been a miserable year for semiconductor investors, shareholders of Taiwan Semiconductor Manufacturing (NYSE: TSM), Intel (NASDAQ: INTC), and Qualcomm (NASDAQ: QCOM) are getting a reprieve of sorts. Qualcomm is gaining 2.9%, and Intel is up 2.2%.
The penultimate trading day of 2022 brought a sigh of relief for investors in shares of Enovix (NASDAQ: ENVX), QuantumScape (NYSE: QS), and ChargePoint Holdings (NYSE: CHPT). As of 11:45 a.m. ET Thursday, while QuantumScape and ChargePoint stocks were trading 6.3% and 7.2% higher respectively, Enovix stock was up a solid 13.7%. This morning, the U.S. Department of Labor reported only a marginal increase in the filings for unemployment insurance for the week ending Dec. 24.
No matter how volatile the stock market is in 2023, these tried-and-true companies can deliver for their shareholders.
Based on the agreement Elon Musk signed to help fund his Twitter purchase, he has experienced his first margin call because of Tesla's stock-price declines.
Yahoo Finance’s Pras Subramanian joins the Live show to discuss reports that Elon Musk has addressed Tesla staff in a memo thanking them for a strong fourth quarter and assuring them to not be bothered by stock price uncertainty.
The Federal Reserve gave the stock market a shock recently as the central bank raised interest rates once again, taking its benchmark rate to its highest level in 15 years. The Fed also suggested that it would keep raising rates in 2023 to bring down inflation. The Fed's hawkish stance sent equities tumbling, as it was expected that the central bank would dial down rate increases in 2023 thanks to signs of cooling inflation.
The main indexes built on premarket gains after U.S. weekly jobless claims data showed the number of workers receiving benefits has climbed to the highest level since February, a tentative sign that the Federal Reserve’s interest-rate hikes might be slowing economic growth and inflation. The S&P 500 (SPX) rose 70 points, or 1.8%, to 3,853. On Wednesday, the Nasdaq Composite dropped 1.4% to 10,213, its lowest closing level of the year.
Yahoo Finance Live anchors discuss the decline in stock for Cal-Maine Foods despite topping revenue expectations.
Investors in Canoo (NASDAQ: GOEV) have had a rough year in 2022 with the stock plunging by 85%. After popping 8.4% early Thursday, Canoo stock was holding on to a gain of 6.5% as of 12:30 p.m. ET. One bit of news that might have investors more positive on the stock is a new report from EV sector site Electrek.
The Dow Jones rallied Thursday after first-time jobless claims. Tesla stock raced higher on a reiterated overweight rating.
The FDA approves TG Therapeutics' (TGTX) Briumvi (ublituximab-xiiy) for treating relapsing forms of multiple sclerosis. The company plans to launch the drug in the first quarter of 2023. Stock up.
A maker of medical equipment that in October said it had 146 full-time workers now says it will close its St. Louis plant and lay off 160 employees, citing "ongoing losses from operations."
GE will ultimately break into three separate, independent, publicly traded companies. Next week Healthcare will be the first to be spun off.
The last 12 months have seen a combination of volatile trading and a relentlessly downward trend in the stock market. The end result, in this last week of the year, is broad based losses – a 21% ytd drop in the S&P 500, and 35% in the NASDAQ – that have hurt investors and cut into portfolio returns. But even in a bearish year, investors can still find islands of opportunity. The key here is to recognize those stocks that are oversold, that have seen worse losses than they should have. These are


Leave a Comment