Market Recap – December 31st
Markets had a shaky Thursday with the S&P 500 down 0.3%, the Dow Jones down 0.25%, and the NASDAQ down 0.16%. The indices were up all throughout the day but lost their steam in the last hour of trading, with most analysts pointing to lower than usual market volumes as the cause for volatility. One stock that made headlines was Teva Pharmaceuticals with a New York jury finding them guilty of helping fuel the opioid crisis in the United States. This was a landmark case, and it sent Teva tumbling after a green start to the day. Alibaba, on the other hand, was green the whole day, which is something we haven’t seen much this year due to heavy regulatory pressure. The business might be selling their 30 percent stake in Weibo, the Chinese Twitter, to a state-owned company, which excited investors.
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.