Market Recap – October 12th 💰

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Market Recap – October 12th

After hovering in the green for most of the day, the markets sharply moved down to finish the day. The S&P 500 fell by 0.33%, the Dow Jones fell by 0.10%, and the NASDAQ fell by 0.09%. Fed minutes pointed to a continuation of rate hikes, and investors became more jittery as the CPI inflation report is set to be released.

Moderna rose by 8.28% to $130.72 following news that they are partnering with Merck in a venture to develop a vaccine for cancer. This would be the greatest medical breakthrough in history, and it’s something mRNA technology has been touted for.

Norwegian Cruise Line had an even better day, finishing up 11.61% to $12.98 as UBS Group analyst Robin Farley upgraded the company to a “Buy” rating. This brought the whole cruise industry up on Wednesday, and it spells good signs for them moving forward.

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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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