Market Recap – December 24th

Market Recap – December 24th

The New York Stock Exchange, Nasdaq, and bond markets were closed yesterday. Looking at specific investments we’re watching Carnival and 3M. 3M’s shares fell by 1.6% after a judge in the United States prohibited the company from transferring liability for injuries sustained by military personnel using allegedly defective earplugs to a subsidiary. The judge stated that 3M deserved the “harshest penalty” for its “bad faith” attempts to evade responsibility. Additionally, cruise line operators saw their shares decline due to concerns about a potential recession, which weighed on consumer discretionary stocks, one of the three worst-performing sectors in the S&P 500. Shares of Carnival dropped by more than 4%.

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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.

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