US mid-day: Dow remains up as other gauges decline
By Joseph Toppe
16:58, 29 December 2021
Trading is slow ahead of the New Year as the Nasdaq and S&P slip into red territory for the second consecutive day.
Halfway through the session, the Dow Jones Industrial Average is clinging to a small gain around 0.10%, the S&P 500 has fallen near 0.5% after starting the day in the green, while the Nasdaq Composite is roughly 0.30% down.
During trading on Tuesday, the Dow went up 96 points, or 0.27%, the S&P sank 0.1%, while the Nasdaq slipped 0.56%.
Winners and losers: Tesla sinks on another Musk sell
Shares of Tesla are down around 1.18% after financial filings published yesterday revealed CEO Elon Musk sold another 934,090 shares, representing approximately $1.02bn of the Tesla chief’s stake in the electric car builder.
In banking, shares of JPMorgan are up roughly 0.15%, Goldman Sachs is off near 0.42%, while Bank of America is down slightly, hovering around 0.022% in negative territory.
In other banking stock, shares of Wells Fargo are around 0.12% better on Wednesday.
As rising US cases of the Omicron variant has an impact on Wall Street, vaccine maker Pfizer is near 0.48% lower, while Moderna and Johnson & Johnson are both higher by 0.76% and 0.64%.
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Oil: Crude keeps gains mid-week
Oil futures were up on Wednesday as West Texas Intermediate crude for February delivery was trading up 95 cents, or 1.3%, at $76.93 a barrel on the New York Mercantile Exchange, while February Brent crude, the global benchmark, was trading $1.18, or 1.5%, higher to trade at $79.83 a barrel on ICE Futures Europe.
In energy stock, shares of Exxon Mobil are off approximately 0.81%, Chevron is down near 0.57%, while Hess and Diamondback Energy are both lower at roughly 0.70% in decline.
Gold: Metals dip lower on Wednesday
Gold futures are down halfway through the week with February gold trading $15.50, or 0.9%, lower at $1,795.30 an ounce.
Meanwhile, silver futures for March delivery were trading 25 cents, or 1.1%, lower at $22.88 an ounce.
Crypto: Digital assets start hump day rebound
After falling into decline yesterday, cryptocurrencies are mostly higher on Wednesday.
Bitcoin is 0.52% higher, Ethereum is down by 0.37%, while Litecoin and Monero are both better by 2.34 % and 1.25% respectively.
Forex: Swiss Franc gains on US buck
On Wednesday, one US dollar equals $1.28 of the Canadian dollar, $0.88 of the euro, and $0.91 of the Swiss Franc, falling slightly from its $0.92 holding last week.
The yield on the benchmark 10-year U.S. Treasury note rose to 1.539% from 1.480% yesterday.
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