13Jan2022 Market Close & Major Financial Headlines: Biden Administration Blocked From Enforcing Vaccination Mandate For Large Private Companies
Markets today seem to be spooked by the continuing hawkish comments from the Federal Reserve members regarding rate hikes which normally negatively affect stock prices. During her confirmation hearing today, Fed Governor Lael Brainard stated:
The committee has projected several hikes over the course of the year. We will be in a position to do that, I think, as soon as asset purchases are terminated. And we will simply have to see what the data requires over the course of the year.
The markets closed lower today with the DOW off 0.5%, NASDAQ off 2.5%, and the S&P down 1.4%. Bitcoin declined to $42,760. WTI crude was down to $81.47. Gold was marginally up at $1,824.
As usual, we have included below the headlines and news summaries moving the markets today.