Market Recap – December 21st
Stocks rose due to increased consumer confidence, reaching its highest level since April. The 10-year Treasury yield rose slightly, while the two-year yield fell. Shares of crypto miners struggled, but all sectors of the S&P 500 ended the day higher, along with all three US indexes, which are on track for weekly gains.
Looking at specific investments, we’re watching Nike and FedEx. Nike saw its shares increase by over 13% after the company reported solid earnings and revenue for its most recent quarter, which helped boost the shares of other athleisure companies such as Under Armour, Skechers, and Lululemon. FedEx’s shares rose by more than 4% after the company announced aggressive cost-cutting measures and reported earnings that exceeded expectations. However, profits were lower than in the same period the previous year.
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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.