25Jan2022 Market Close & Major Financial Headlines: Fat Lady continues to sing despite slight cough, DOW closed down 67 Points, NASDAQ Down 2.3%, S&P 500 down 1.2%, Dogecoin $0.1427
The continuing stock market crash shows a possible recovery trend but tread with ultimate caution. The market decline also temporarily halted the oil price rally, but oil prices rebounded this morning.
Many things are weighing on the market today including
- inflation concerns,
- The Conference Board’s January consumer confidence declined,
- the Russia / Ukraine tensions,
- the potential of federal funds rate increases,
Also released today, the S&P CoreLogic Case-Shiller Indices showed that November 2021 home prices were up 18.3% year-over-year for the 20-city composite – although it was down from 18.5% in October.
G.M. is spending $6.6 billion on E.V. plant investments in a bid to dethrone Tesla in electric car sales by 2025. It projects it will sell more than 1 million E.V.s globally by mid-decade and overtake Tesla as the top US-based seller of electric vehicles.
In other news, Microsoft tumbles despite beating across the board, topping $50 billion in quarterly sales. Looking at Microsoft’s earnings reported moments after the close, which beat from the top to the bottom line, one would think that the stock is soaring after hours – NOT!
Another day, another Musk tweet pumps Dogecoin up 9%. Musk, the founder of Tesla and SpaceX, said he would eat a Happy Meal on T.V. if Fast food giant McDonald’s started accepting Dogecoin.
As usual, we have included below the headlines and news summaries moving the markets today.