US mid-day: Wall Street restarts in red territory

16:41, 18 January 2022

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  • US30
    Dow Jones 30
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Tech, social media, vaccine maker stocks all down on Monday - Photo: Unsplash

All three major US gauges are down today, after rallying at the bell to close mixed last Friday.

Halfway through the session, the Dow Jones Industrial Average is around 1.48% off, the S&P 500 is down roughly 1.50%, while the Nasdaq Composite is approximately 1.78% in the red.

On Friday, the Dow Jones went down 0.56%, or 202 points, the S&P went up 0.08% to rally just before the bell, while the Nasdaq improved 0.59%.

Winners & losers: Tech plummets

Following reports the Biden Administration was investigating Alibaba to determine if the ecommerce company is a risk to national security, US listed shares for the Chinese-based firm are now down near 0.35%.

In other tech stock, shares of Adobe are off near 1.83%, Apple is down almost 1.26%, Meta Platforms is around 3.60% lower, while Microsoft and Amazon are 1.55% 2.50% in negative territory, respectively.

In other social media stock, shares of Twitter are near 2.58% in the red, while Snap is almost 4.63% down and Pinterest is around 3.02% lower.

As Omicron cases continue to spike around the US, shares of Pfizer are almost 1.89% lower, Moderna has plummeted near 7.24%, and Johnson & Johnson is roughly 0.43% down.

Oil: Crude highest since 2014

Oil futures are hitting record-setting highs on Tuesday as prices have climbed to their highest since 2014.

West Texas Intermediate crude for February delivery spiked $1.12, or 1.3%, to $84.94 a barrel on the New York Mercantile Exchange, while March Brent crude, the global benchmark, went up 72 cents, or 0.8%, to trade at $87.20 a barrel on ICE Futures Europe

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In energy stock, Chevron is clinging to a loss at 0.015% down, while ConocoPhillips is almost 0.10% higher

Gold: Metals up

Gold futures are slightly better on Tuesday with February gold up by $2.90, or 0.2%, to reach $1,819.40 an ounce, while March silver jumped 69 cents, or 3%, to trade at $23.61 an ounce.

Forex: Yield two-year best

On Tuesday, one US dollar equals $1.25 of the Canadian dollar, $0.88 of the euro, and $0.74 of the Pound sterling.

The yield on the benchmark 10-year Treasury went up to 1.827%, its highest level in two years.

Read more: Why is brent crude above $88 for the first time since 2014?

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