Adviser Investments CIO Jim Lowell provides insight into how the omicron variant will impact the stock market.
U.S. stocks opened mixed as investors continue to rotate out of tech.
The Nasdaq Composite dipped nearly 1%, while the S&P 500 fell 0.3%. The Dow Jones Industrial Average touched a new record with modest gains of 9 points or 0.03%.
HIRING PICKS UP WITH 807,000 JOBS CREATED: ADP
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 36821.07 | +21.42 | +0.06% |
| SP500 | S&P 500 | 4787.76 | -5.78 | -0.12% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15531.365526 | -91.35 | -0.58% |
The Dow is eyeing its next 1,000 milestone with 37,000 ahead.
Tech was divided among the 30 members with Intel rising over 2%, while Salesforce dipped 6% after UBS cut the stock to a hold.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORP. | 55.55 | +2.41 | +4.54% |
| CRM | SALESFORCE.COM INC. | 234.50 | -13.80 | -5.56% |
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Traders are watching the first of this week’s labor-related reports ahead of Friday’s December jobs report.
The payroll processing firm ADP reported the creation of 807,000 private-sector jobs, more than double the 400,000 estimate.
Also, the final Markit services PMI for December came in at a reading of 57 and investors are also anticipating the minutes from the Federal Reserve’s latest policy meeting in December, set for release on Wednesday.
Automakers remain in focus with General Motors CEO Mary Barra set to unveil the electric Chevy Silverado at the Consumer Electronics Show.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 65.08 | -0.66 | -1.00% |
| F | FORD MOTOR CO. | 23.80 | -0.52 | -2.12% |
| TSLA | TESLA INC. | 1,156.75 | +7.16 | +0.62% |
GM and Ford are both racing to lead the EV transformation among traditional automakers. On Tuesday, Ford announced it will double the production of its electric F-150 truck. Tesla shares slipped.
Additionally, Amazon and Stellantis announced a deal to team up in developing auto software.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 3,329.00 | -21.44 | -0.64% |
| STLA | STELLANTIS NV | 20.80 | +0.51 | +2.49% |
In health, the CDC is reviewing Pfizer’s COVID-19 vaccine booster for ages 12-15.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 55.55 | +1.00 | +1.84% |
| BNTX | BIONTECH SE | 224.53 | +0.44 | +0.20% |
Walmart is stepping up its home delivery push with plans to expand to 30 million homes this year. It also plans to hire 3,000 drivers. The move takes aim at retail giant Amazon.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 144.29 | +2.34 | +1.65% |
THE BEST CITIES TO FIND A JOB IN 2022: REPORT
In commodities, oil inched higher by 1% nearing $78 per barrel, while gold gained 0.7% to $1,827 an ounce.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 56.42 | +0.83 | +1.49% |
| GLD | SPDR GOLD SHARES TRUST – EUR ACC | 170.47 | +0.90 | +0.53% |
Asian benchmarks mostly slipped Wednesday as technology shares in the region echoed a similar drop in the sector on Wall Street.
Japan’s benchmark Nikkei 225 inched up 0.1%, Hong Kong’s Hang Seng shed 1.6% and China’s Shanghai Composite lost 1.0%.
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FOX Business’ Ken Martin and The Associated Press contributed to this report.
