All three major indexes ended the day with losses
The dust has yet to settle on the dismal year Wall Street just had, as the major indexes continue to slide into 2023. The Dow pared much steeper losses in its final hour of trading, though it still finished the day in the red alongside the Nasdaq and S&P 500. Tech was hit the hardest amid a dismal fourth-quarter delivery report from Tesla (TSLA) and more production cuts out of Apple (AAPL). Meanwhile, the fear of additional interest rates into the new year maintains a tight grip on investors.
Continue reading for more on today's market, including:
- Why put traders are targeting First Solar stock. .
- Bulls might want to crack open this beverage name.
- Plus, 1 promising blue-chip; 2 casino stocks to watch; and the bear signal flashing for PFE.
5 Things to Know Today
- Republican Leader Kevin McCarthy was unable to secure enough votes in support of his bid for House speaker, marking the first time in a century that the majority party failed to garner enough support for a speaker during the first round of voting. (CNBC)
- Russian nationalists are pushing for punishment for commanders being accused of ignoring the dangers linked to one of the deadliest strikes in Ukraine, which reportedly killed 63 Russian soldiers. (Reuters)
- Bullish investors should pay attention to this energy stock.
- These two casino names could benefit from China's reopening.
- Why traders should hold off on buying the Pfizer dip.
There were no earnings of note today.
Gold Hits 6-Month Peak
Recession concerns are weighing on oil prices, after the International Monetary Fund predicted that one third of the global economy will enter a recession. West Texas Intermediate (WTI) crude for the now most active, February delivery, shed $3.33, or 4.2%, to settle at $76.93 per barrel.
Gold hit a six-month high, thanks to a dip in bond yields. February-dated gold rose $19.90, or 1.1%, to settle at $1,846.10 per ounce on the day.