STOCKS DIP: Here's what you need to know

Stocks sold off sharply to start the day, but gained back some of their losses in trading.

All three major US stock indexes finished in the red, as the Dow Jones Industrial average strayed even further from the much-anticipated 20,000 level.

We’ve got all the headlines for you, but first, the headlines:

  • Dow: 19,887.65, -66.63, (-0.33%)
  • S&P 500: 2,270.94, -4.56, (-0.20%)
  • Nasdaq: 5,548.52, -14.71, (-0.26%)
  • WTI crude oil: $53.06, +$0.81, (1.57%)
  • 10-year Treasury yield: 2.356%, -0.014
  1. Amazon is adding 100,000 jobs in the US. The “full-time, full benefit” jobs will be added over the next 18 months according to the company. Many of the jobs will be in new fulfillment centres and will range from engineering to software-development roles, according to a press release.
  2. AT&T CEO Randall Stephenson met with President-elect Donald Trump. AT&T said that the two did not discuss the company’s pending merger to Time Warner, which Trump is reportedly against.
  3. The Environmental Protection Agency is going after Fiat Chrysler. The EPA is alleging that the carmaker manipulated its software in some diesel cars to get around emissions standards, similar to the Volkswagen scandal. Shares of the company fell 9.5% for the day.
  4. George Soros lost around $1 billion after Trump’s election. The Wall Street Journal reported that the hedge fund titan and Hillary Clinton supporter made investments assuming a Trump win would be a negative for markets. Soros’ fund, however, still finished up 5% for 2016.
  5. Initial jobless claims increased but still remain incredibly low. There were 255,000 claims for the week. This marked the 97th straight week that claims have been under 300,000, the longest such streak since 1970.
  6. McDonald’s may sell one-third of its Japanese business. The report comes after the fast food giant sold 80% of their Chinese business on Wednesday.
  7. Delta’s fourth quarter profits slid. Profits fell 36.5% in the fourth quarter due to new union contracts kicking in. Shares of the airline fell slightly by 0.70%.


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