| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 35927.43 | +383.25 | +1.08% |
| SP500 | S&P 500 | 4709.85 | +75.76 | +1.63% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15565.582968 | +327.94 | +2.15% |
Jerome Powell, Federal Reserve chairman Jerome Powell acknowledged inflation rose way faster than policymakers expected, and said the job market will take longer than expected to recover because people are choosing to stay out of the workforce.
Bitcoin, the FED Chair said cryptocurrencies are not a major risk to the financial system at this time, however, Bitcoin rose to close at the $49,000 level.
Commodities, Oil ticked higher by 0.20% to close at $70.87 per barrel.
Vaccine makers commented that COVID-19 vaccines do not have to be adjusted to protect against the omicron variant.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 283.28 | +6.12 | +2.21% |
| PFE | PFIZER INC. | 58.80 | +3.26 | +5.87% |
| BNTX | BIONTECH SE | 287.05 | +10.28 | +3.71% |
| JNJ | JOHNSON & JOHNSON | 171.14 | +0.85 | +0.50% |
Apple, market watchers are closely watching Apple shares that are on the verge of pushing the company past the $3 trillion mark.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 179.30 | +4.97 | +2.85% |
Retail sales rose 0.3%, below the 0.8% forecasted by economists and well below October’s steeper-than-expected 1.7% surge. Excluding the automotive component, spending also rose just 0.3%, compared with 1.7% the prior month. The pullback suggests inflation may be hitting the consumer harder than expected.
Imported goods, prices of imported goods rose 0.7% month-over-month, after a slightly larger-than-expected increase of 1.2% in October. Export prices jumped 1% in November, below the prior month’s 1.5% spike.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 145.77 | +0.83 | +0.57% |
| TGT | TARGET CORP. | 236.65 | +1.37 | +0.58% |
| KSS | KOHL'S CORP. | 49.18 | -0.32 | -0.65% |
Asian Market, the Asian stocks also rallied despite the Covid cases being discovered in some states with the Hang Seng index (HSI) rising by 0.23% to 23,475.5, Nikkei 225 index rose by 2.13 to close at 29,066.32 while the Shanghai composite also climbed up 0.75% to 3,675.02.
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
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