McConnell Blocks, Market Slips | December 29 | Eagle Nest

by Luna Fuller
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The DJIA fell 0.22%
The S&P 500 was down 0.21%
The Nasdaq Composite fell 0.21%

All three hit intraday records before closing in the red. Tech and energy led the slip in the market.

General Market Review

Stimulus

After the bill to increase payments to $2000 was approved in the House yesterday, it was blocked in the Senate by Majority Leader Mitch McConnell.

Energy

Energy stocks fell due to a drop in oil prices. Oil prices reached a high today, before falling due to continued Covid restrictions as the new strain continues to spread.

Tech

Snap jumped 6% after Goldman Sachs increased its price target by $23. Alibaba was up 6%, because Ant Group, its tech affiliate, is considering creating a financial holdings firm to ensure that its financial operations are under regulatory supervision. Intel was up 5% after being advised to explore strategic deals.

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