Market Recap – December 29th
The market continued its choppiness on Wednesday, with a mixed day once again. The S&P 500 was up 0.14%, the Dow Jones was up 0.25%, and the NASDAQ was down 0.1%. The tech sector continued to lag in the market, while blue chip names enjoyed their sixth straight day of gains as indicated by the Dow Jones index. COVID cases are still being weighed by investors along with the disruptions in the travel industry. On the contrary, Biogen, a biotech company, saw a major intraday boost as news came that South Korea’s Samsung Group is in talks to acquire the business in a multi-billion-dollar deal. FuelCell Energy, on the other hand, was down by as much as 15 percent after missing on both earnings per share and revenue, marking a disappointing quarter for the alternative energy company.
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.