Market Recap – December 28th
Market indices were mixed on Tuesday with the S&P 500 down 0.1%, the Dow Jones up 0.26%, and the NASDAQ down 0.56%. The technology sector lagged most of the market with investors looking towards possible interest rate hikes in 2022 and the United States recording a record number of COVID-19 cases. One tech stock that took a heavy hit was Coinbase, the cryptocurrency exchange. Coinbase followed not only the NASDAQ index, but the cryptocurrency market too, which had a bad day with large coins like Bitcoin falling by more than 10 percent. On the other hand, national donut chain Krispy Kreme recorded a great day, closing 10 percent higher than yesterday. The business announced a new promotion to boost store traffic during New Year’s, including a discount on a dozen glazed donuts, which is the most popular item. Let’s hope for some green days going forward!
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.