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According to Reuters, US stocks were mixed in the last week of 2022 trading. This was because the slowdown at China’s Shanghai factory continued through January.
The final week of US trading in 2022 saw stocks finish mixed as the so-called Santa Claus rally, which typically closes each year, failed to materialize.
Despite new signs that China is shedding its zero COVID policies, the weakness was still evident. Beijing announced Monday that inbound travelers will no longer be subject to quarantine requirements starting January 8. China still faces an epidemic of infections.
After the Kremlin’s financial minister stated that it was hurting Moscow’s export revenues, Vladimir Putin, Russian President, banned oil sales to West-initiated countries.
Here are the US indexes at closing time on Tuesday, April 4, 2019, at 4:05 p.m.
S&P 500: 3,829.25. Down 0.4%. Dow Jones Industrial Average 33,241.56, up 0.1% (38 Points). Nasdaq Composite 10,353.23, down 1.4%.
Here are some other things going on:
After three consecutive weeks of losses, the S&P 500 is now at $1.6 trillion. The index’s 10 largest losers have wiped out $1.6 trillion in value. FTX’s Sam Bankman Fried purchased Robinhood stock with hundreds of millions of dollars from Alameda Research. Reuters reported that Tesla stock dropped as the slowdown in its Shanghai factory continued through January.
Commodities, bonds, and crypto
Prices for oil were mixed. West Texas Intermediate was essentially flat at $79.55 per barrel. Brent crude rose 0.51%, to $84.35 per barrel. West Texas Intermediate was essentially flat at $79.55 a barrel. Read the original article on Business Insider.
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By: jma@insider.com (Jason Ma)
Title: US stocks trade mixed as Santa Claus rally remains elusive despite China’s further reopening
Sourced From: markets.businessinsider.com/news/stocks/stock-market-news-today-santa-claus-rally-sp500-china-reopening-2022-12
Published Date: Tue, 27 Dec 2022 21:15:20 +0000
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