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MSFT   296.03 (-1.85%)
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AMD   118.81 (-2.53%)
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MU   81.93 (-3.69%)
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T   26.61 (-1.52%)
F   20.65 (-4.62%)
DIS   137.38 (-6.94%)
AMC   17.97 (-0.55%)
PFE   52.79 (-2.33%)
ACB   4.46 (-6.11%)
BA   205.44 (-4.09%)
S&P 500   4,397.94 (-1.89%)
DOW   34,265.37 (-1.30%)
QQQ   351.69 (-2.77%)
AAPL   162.41 (-1.28%)
MSFT   296.03 (-1.85%)
FB   303.17 (-4.23%)
GOOGL   2,607.03 (-2.22%)
AMZN   2,852.86 (-5.95%)
TSLA   943.90 (-5.26%)
NVDA   233.74 (-3.21%)
BABA   123.23 (-5.95%)
NIO   27.35 (-6.11%)
AMD   118.81 (-2.53%)
CGC   7.29 (-3.57%)
MU   81.93 (-3.69%)
GE   96.30 (-1.98%)
T   26.61 (-1.52%)
F   20.65 (-4.62%)
DIS   137.38 (-6.94%)
AMC   17.97 (-0.55%)
PFE   52.79 (-2.33%)
ACB   4.46 (-6.11%)
BA   205.44 (-4.09%)
S&P 500   4,397.94 (-1.89%)
DOW   34,265.37 (-1.30%)
QQQ   351.69 (-2.77%)
AAPL   162.41 (-1.28%)
MSFT   296.03 (-1.85%)
FB   303.17 (-4.23%)
GOOGL   2,607.03 (-2.22%)
AMZN   2,852.86 (-5.95%)
TSLA   943.90 (-5.26%)
NVDA   233.74 (-3.21%)
BABA   123.23 (-5.95%)
NIO   27.35 (-6.11%)
AMD   118.81 (-2.53%)
CGC   7.29 (-3.57%)
MU   81.93 (-3.69%)
GE   96.30 (-1.98%)
T   26.61 (-1.52%)
F   20.65 (-4.62%)
DIS   137.38 (-6.94%)
AMC   17.97 (-0.55%)
PFE   52.79 (-2.33%)
ACB   4.46 (-6.11%)
BA   205.44 (-4.09%)
S&P 500   4,397.94 (-1.89%)
DOW   34,265.37 (-1.30%)
QQQ   351.69 (-2.77%)
AAPL   162.41 (-1.28%)
MSFT   296.03 (-1.85%)
FB   303.17 (-4.23%)
GOOGL   2,607.03 (-2.22%)
AMZN   2,852.86 (-5.95%)
TSLA   943.90 (-5.26%)
NVDA   233.74 (-3.21%)
BABA   123.23 (-5.95%)
NIO   27.35 (-6.11%)
AMD   118.81 (-2.53%)
CGC   7.29 (-3.57%)
MU   81.93 (-3.69%)
GE   96.30 (-1.98%)
T   26.61 (-1.52%)
F   20.65 (-4.62%)
DIS   137.38 (-6.94%)
AMC   17.97 (-0.55%)
PFE   52.79 (-2.33%)
ACB   4.46 (-6.11%)
BA   205.44 (-4.09%)

Wall Street's wild swings continue as stocks rise, then fall

Friday, December 3, 2021 | Stan Choe, AP Business Writer


The New York Stock Exchange operates during normal business hours in the Financial District, Wednesday, Oct. 13, 2021, in New York. Stocks are moving tentatively higher in early trading on Wall Street Friday, Dec. 3, as traders struggle to parse data from a report on the U.S. job market. (AP Photo/John Minchillo, File)

NEW YORK (AP) — Stocks are churning in mixed trading on Wall Street Friday following a tough-to-parse report on U.S. jobs, as markets continue to swirl at the tail end of a dizzying week.

The S&P 500 was 0.1% lower, as of 9:50 a.m. Eastern time, after an early 0.7% gain quickly vanished. It’s coming off a jolting stretch where it swerved at least 1.2% in five straight days, pounded by uncertainty about how badly the newest coronavirus variant will hit the economy and about when the Federal Reserve will halt its immense support for financial markets.

The Dow Jones Industrial Average was down 39 points, or 0.1%, at 34,590 after earlier being up 161 points. The Nasdaq composite was 0.7% lower.

Treasury yields were modestly higher, while a gauge of fear among U.S. stock investors eased. But those movements were also erratic, fitting right in with a week where the S&P 500 swung from a 1.9% gain to a 1.2% loss in one day.

Yields initially sank after the U.S. government said employers added only 210,000 jobs last month, less than half the 530,000 that economists expected. The jobs report is usually the most anticipated economic data on Wall Street each month.

But they quickly swung back upward as other areas of the jobs report showed better strength. More people are coming back to the workforce, and the unemployment rate improved to 4.2% from 4.6%. Those encouraging trends may have helped quell worries the economy will stagnate even while inflation remains high, a worst-case scenario that economists call “stagflation.”

“Today’s non-farm payroll report looks messy to me,” said Jamie Cox, managing partner for Harris Financial Group. “Best to wait for the revisions next month before sounding the stagflation alarm too loudly.”

Investors, of course, were still quick to extrapolate very different reactions from the mixed report. Some said they expected it to push the Fed to speed up its removal of support from markets, while others said they expected no effect.

The Fed jolted markets earlier this week when its chair said the central bank will consider wrapping up massive bond-buying program a few months earlier than the June target it had been on pace for. That would open the door for the Fed to raise short-term interest rates off their record low, which has been one of the main reasons for the S&P 500’s roughly doubling in value since the early days of the pandemic. Low rates encourage borrowers to spend more and investors to pay higher prices for stocks.

The competing schools of thought initially pushed the yield on the two-year Treasury down to 0.58% before it rebounded back to 0.64%. That's up from 0.63% late Thursday.

The 10-year Treasury yield rose to 1.45% from 1.44% after sinking to 1.40% immediately after the jobs report's release.

Stocks were stronger in Europe and Asia. Germany's DAX returned 0.3%, while Japan's Nikkei 225 rose 1%.

Hong Kong's Hang Seng slipped 0.1%. Chinese ride-hailing service Didi Global Inc. said Friday it will pull out of the New York Stock Exchange and shift its listing to Hong Kong as the ruling Communist Party tightens control over tech industries.

The Securities and Exchange Commission has moved to require that U.S.-listed foreign stocks like Didi's disclose their ownership structures and audit reports, which could lead to some of them being delisted.

In another blow for China's troubled property sector, Hong Kong-traded developer Kaisa Group said it had failed to get the required approvals from bond holders to extend the deadline on payment on $400 million of 6.5% offshore bonds. It had wanted to have the new notes be due on June 6, 2023 at the same interest rate.

The aim was to relieve financial pressure and the plan's failure to go through raises the risk of a default.

___

AP Business Writer Elaine Kurtenbach contributed.


7 Dividend Stocks that Help Take the Bite Out of Inflation

Inflation and its effects on corporate earnings going forward is the headline story taking over the stock market. The Consumer Price Index rose at a 6.8% pace on a year-over-year (YOY) basis. That marked the fastest rate since June 1982.

And even when the CPI stripped away food and energy prices (because who buys groceries or puts gas in their car?), the CPI was still 4.9% on a YOY level, the highest since 1991.

The market is coming to grips with the idea that not only is inflation is not transitory, but that it’s drawn the attention of the Federal Reserve. And after the Federal Reserve’s last meeting, investors are starting to see how the market may be affected in 2022.

Growth investors may be able to ride out whatever comes next. The same can’t be said for income investors, particularly those who are at or nearing retirement age. The effect of inflation may be having a stark effect on their portfolios at a time when they need money the most.

One great way to offset the effect of inflation in their portfolios is by buying high-quality dividend stocks. And that’s the focus of this special presentation. Dividends can help provide a source of income. And for investors who don’t need the money right away, reinvesting dividends can allow for a greater total return.

In this special presentation, we’ll highlight seven stocks that made the MarketBeat list of 100 dividend-paying companies that received the highest average rating among analysts in the last 12 months.

View the "7 Dividend Stocks that Help Take the Bite Out of Inflation".


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