Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Stock Market News for Jan 14, 2022

By Zacks Investment ResearchStock MarketsJan 13, 2022 09:30PM ET
Stock Market News for Jan 14, 2022
By Zacks Investment Research   |  Jan 13, 2022 09:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

U.S. stocks closed sharply lower, led by a huge selloff in tech stocks as the Nasdaq snapped its three-day winning streak after rising interest rate worries once again dented investors’ spirits. All the three major indexes ended in negative territory.

How Did The Benchmarks Perform?

The Dow Jones Industrial Average (DJI) shed 0.5% or 176.70 points to close at 36,113.62.

The S&P 500 declined 1.4% or 67.32 points to end at 4,659.03 points. Tech and consumer discretionary stocks were the worst performers.

The Technology Select Sector SPDR (XLK) declined 2.6%, while the Consumer Discretionary Select Sector SPDR (XLY) lost 2%. Eight of the 11 sectors of the benchmark index ended in negative territory.

The tech-heavy Nasdaq was the worst performer falling 2.5% or 381.58 points to finish at 14,806.81 points.

Big tech stocks were the biggest losers, with shares of (NASDAQ:AMZN), Inc. AMZN and Microsoft Corporation (NASDAQ:MSFT) MSFT declining 2.4% and 4.2%, respectively. Amazon has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

The fear-gauge CBOE Volatility Index (VIX) was up 15.27% to 20.31. A total of 10.43 billion shares were traded on Thursday, higher than the last 20-session average of 10.39 billion. Decliners outnumbered advancers on the NYSE by a 1.27-to-1 ratio. On Nasdaq, a 2.24 to-1 ratio favored declining issues.

Tech Stocks Take a Beating Again

Tech stocks feel on Thursday, snapping their three-day winning streak. This has been the trend since the beginning of the year as rising interest rates have been pushing the 10-year Treasury yield higher.

Growth shares, especially tech stocks, are more sensitive to interest rates have been taking a beating since the beginning of 2022 as investors have been worrying that the Fed will be more aggressive toward hiking rates in the coming months than expected in order to tackle the surging inflation. These worries once again halted the tech rally, leading to massive selloff. Shares of Tesla (NASDAQ:TSLA), Inc. TSLA declined 6.8%, while Meta Platforms, Inc. FB fell 2%.

Moreover, on Thursday several Fed officials spoke publicly about rising inflation and the need for rate hikes to tackle the situation. There were also reports that the Fed could start raising rates as soon as from March, which further took a toll on the high-flying tech stocks.

Economic Data

Markets hardly had an impact on the economic reports released on Thursday. In economic reports released on Thursday, the producer-price index for December showed that inflation at the wholesale level 9.7% year over year after rising 9.8% in November. On a monthly basis it rose 0.2%, which is the lowest in more than a year.

The Labor Department said on Thursday that initial jobless claims rose to 230,000, increasing 23,000 for the week ending Jan 8. The four-week moving average also rose to 210,750, an increase of 6,250 from the previous week’s unrevised average of 204,500.

However, continuing claims fell by 194,000 to 1,559,000. The previous week's numbers were revised down by 1,000 from 1,754,000 to 1,753,000. The 4-week moving average came in at 1,721,500, a decline of 77,000 from the previous week's revised average.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report, Inc. (AMZN): Free Stock Analysis Report

Microsoft Corporation (MSFT): Free Stock Analysis Report

Tesla, Inc. (TSLA): Free Stock Analysis Report

Meta Platforms, Inc. (FB): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research
Stock Market News for Jan 14, 2022

Related Articles

Stock Market News for Jan 14, 2022

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email