Market Recap – December 15th
Tech stocks once again led Wall Street lower on Tuesday, with the Nasdaq dropping another 1.1% after a nearly 1.4% decline Monday. The S&P 500 and the Dow Jones Industrial Average fell for the second straight session Tuesday after the government said November producer prices year over year rose at the fastest clip-on record.
The streaming brand, Roku, saw its shares tumble 7.9% after Universal Electronics announced the International Trade Commission has sided with it in a case against Roku and hit Roku with a patent infringement ruling that could potentially ban some of its products from being imported.
Meanwhile, shares of Progressive jumped 4.8% after the firm reported monthly metrics that included $3.29 billion in net premiums written, compared with $2.9 billion the same time a year ago.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.