STOCK MARKET NEWS:Nasdaq jumps 1.7%, Dow slips as oil falls to $99 level
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Vaccine-maker Novavax said it expects to be in a position to provide an Omicron-containing vaccine in the fourth quarter of 2022.
In a statement, Novavax wrote that it is awaiting emergency use authorization for its prototype COVID-19 vaccine, noting that clinical data demonstrate it offers immune responses against variants like the Omicron BA.4/5.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| NVAX | $64.29 | +7.14 | +12.49% |
U.S. stocks ended mixed in a choppy session as investors weighed fresh data signaling a recession after the Federal Reserve Bank of Atlanta updated its 2Q GDP estimate which is tracking at a 2.1% contraction. In commodities, oil lost over 8% to $99.50 per barrel, the biggest one-day percentage drop since March.
Grayscale CEO Michael Sonnenshein reacts to the SEC denying Grayscale's request to create a spot Bitcoin ETF on 'Making Money with Charles Payne.'
The Washington Examiner's Kaylee McGhee White discusses California Gov. Gavin Newsom's Florida ad and the 2024 presidential election.
Retired New York Police Department Lt. Joe Cardinale says the Highland Park shooter 'fell through the cracks' of social media security monitoring.
Thomson Financial, Crude
| Symbol | Price | Change | %Change |
|---|---|---|---|
| USO | $81.67 | +1.32 | +1.64% |
| BNO | $33.34 | +0.60 | +1.83% |
U.S. crude oil fell over 9% to the $88 per barrel level as recession forecasts rise, including the Federal Reserve Bank of Atlanta's GDPNow which is currently predicting growth in the 2Q will fall 2.1%, likely confirming a recession.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| MU | $53.65 | -1.63 | -2.95% |
| DLTR | $156.27 | +0.42 | +0.27% |
| GOOGL | $2,174.75 | -4.51 | -0.21% |
| AMZN | $109.56 | +3.35 | +3.15% |
The Nasdaq Composite curbed losses early afternoon helped by gains in Micron, Dollar Tree, Google and Amazon.
The Transportation Security Administration (TSA) screened more than 9 million travelers between Thursday and Sunday.
Through Monday, TSA officers screened about 11.3 millionMore than 2.49 million individuals headed to airports on Friday – a pandemic-era record.
Federal Reserve Bank of Atlanta-GDPNow
Investors continued to sell U.S. stocks as they returned from the long July 4th holiday week with all three of the major benchmark averages down over 1% in early trading ahead of Friday’s widely watched employment report for June. In commodities, oil hovered at $91 per barrel in a sharp off nearly 6% in today’s session.
The price of gas continues to fall slowly since the national average for regular gasoline crossed $5.00 per gallon last month.
The figure was the largest recorded gas price since the AAA motor group began tracking data in 2000.
As of Tuesday morning, the price of a gallon of regular gas hit $4.80, an 80 cents drop from a week ago.
Gas is still well above its July 2021 price, when a gallon of gas averaged $3.13, according to the AAA.
Cryptocurrency prices initially fell Tuesday morning as Bitcoin, Ethereum and Dogecoin were all in negative territory.
At nearly 5 a.m. ET, Bitcoin was trading at about $19,815 (-2.17%), down approximately $440. For the week, Bitcoin was down nearly 2.4%. For the month, Bitcoin was down approximately 32%.
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