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Home / Business / What happened on the stock market today – The Motley Fool

What happened on the stock market today – The Motley Fool



US. Shares have prolonged last week's losses on Christmas Eve, even though Treasury Secretary Steve Mnuchin had made an unusual attempt to calm the markets.

On Sunday, Mnuchin made a statement calling the CEOs of six of the country's largest banks, each insuring him. Financial institutions have "sufficient liquidity to lend."

But when the markets closed today, the Dow Jones Industrial Average (DJINDICES: ^ DJI) fell by another 2.9% S & P 500 (SNPINDEX : ^ GSPC) yielded 2.7%.

Today's Stock Exchange

Index Index Change Point Change
Dow
%) (653,1
7)
S & P 500 (2,71%) (65,52)

Data Source Provider: Yahoo! Finances.

Oil reserves once again set the pace for today's losers as they had concerns over weak demand and supply flooding. As a result, the S & P SPDR S & P ETF for oil and gas deposits (NYSEMKT: XOP) ] fell 4.9%. However, retail stocks largely avoided the negative trend as consumers ended a record Christmas sales season. After spending most of the session in the green zone, the SPDR S & P Retail ETF (NYSE: XRT) [19456529] plummeted into negative territory, closing at 0.4%.

As for the individual shares, Campbell Soup (NYSE: CPB) became cold today, and Facebook (NASDAQ: FB) temporarily recovered from its 52- week low. Read on to find out why.

  Wall Street and Broad Street signs with American flags and a Christmas tree in the background

Source: Getty Images.

Campbell's International Auction

Campbell Soup's stock fell 6.5%, according to Reuters Kraft Heinz and Mondelez International are among the participants in the second auction round for the international business of Campbell.

Based on bid of the first round So far, so Reuters, the offer for the overseas operation of soup giants after its completion in early 2019, ultimately reach three billion US dollars. Together with the previously announced divestment of Campbell's Fresh Division, Campbell can focus on driving bottom-line sales to North American soup, snack and beverage businesses.

The update arrives just days after Campbell's former Pinnacle Foods chief Mark Clouse joins as CEO with effect from January 22, 2019.

Under pressure to increase profitability and resume sustainable, profitable growth, Campbell Soup still has much to do to convince investors that its stock earns a place in their portfolios.

Facebook takes position

Facebook climbed 3.8% at the beginning of the session, but then gave up The gains increased 0.7% as the market's sell-off accelerated after the social media titan had blocked five accounts because he had spread the misinformation in the last elections in Alabama last year. Most notably, Jonathan Morgan, CEO of social media research firm New Knowledge, was among those reports.

The news comes shortly after Morgan told the Washington Post he had "misleading online tactics tested" during the election – though not to influence the outcome, but to better understand its implications. "

However, in a statement today, Facebook insisted that Facebook" must take a strong stance against people or organizations that mislead networks with accounts others about who they are or what they do. The company also noted that thousands of accounts have already been removed for similar behavior during the election.

It is likely that Facebook shares reached a new 52-week low on Friday as concerns deepened Shares may recover as the company continues to take steps to build public confidence in its platform.

Steve Symington has no position in any of the aforementioned stocks. "The Motley Fool owns Facebook shares and recommends Facebook The Motley Fool has a disclosure policy


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