US market close: Stocks slip late after session gains

20:58, 20 January 2022

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Auto maker stocks were mostly down at the closing bell - Photo: Shutterstock

The US benchmarks slipped into negative territory just before the closing bell on Thursday, as the Dow Jones Industrial Average fell 299 points, or 0.85%, the S&P 500 retreated 1.07%, and the Nasdaq Composite went back 1.30%.

Halfway through the session, the Dow was around 430 points higher, or 1.22%, the S&P was near 1.43% in the green, while the Nasdaq was up approximately 2%.

Winners & losers: Auto shares tank

With rising Omicron cases around the globe, vaccine maker Pfizer is 0.95% higher, Moderna remains down at 3.76 % in the red, and Johnson & Johnson is 0.80% in decline.

In the technology sector, shares of Advanced Micro Devices (AMD) have plummeted 4.97%, while Nvidia dropped 3.66% and Intel backpedalled 2.95%.

While semi-conductor shortages slow auto production, shares of Ford have reversed 3.56% after the company was forced to temporarily shut down its assembly facility in Flat Rock, Michigan.

Shares of Toyota are down 0.47%. Today, a company spokesperson told the automaker would miss production goals in 2022.

In other auto stock, shares of BMW are 2.15% lower, General Motors is down by 2.83%, while Tesla holds a slight gain 0.062% in the green.

Oil: Crudes match losses

Oil futures dropped slightly on Thursday as West Texas Intermediate crude slipped six cents, or around 0.1%, to end at $86.90 a barrel on the New York Mercantile Exchange, while March Brent crude also lost six cents, or almost 0.1%, to settle at $88.38 a barrel on ICE Futures Europe.

In energy stock, shares of Hess are off 2.40%, while Exxon Mobil is up 0.19%.

Gold: Yellow metal falls

Gold futures went down during Thursday trading as February gold shed 60 cents, or less than 0.1%, to settle at $1,842.60 an ounce.

Forex: Yield up slightly

On Thursday, one US dollar remains at $1.25 of the Canadian dollar and $0.88 of the euro, but has slipped to $0.73 of the Pound sterling, after equalling $0.74 of the currency earlier in the week.

The yield on the 10-year U.S. Treasury note was up slightly from Wednesday at 1.829%.

Read more: These Nasdaq 100 stocks could lead a growth stock recovery

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