Stocks Settle Mostly Lower Despite Reprieve In China Unrest

Still gripping onto steep weekly deficits, stocks ended a volatile session mostly lower, despite the current reprieve from Covid-related unrest in China. Approximately 65% of residents above 80 have reportedly received booster shots, while cases in the region fell for the first time in over one week. Also in focus is Federal Reserve Chairman Jerome Powell's speech tomorrow at the Hutchins Center on Fiscal and Monetary Policy at Brookings.

The Dow Jones Industrial Average (DJI - 33,852.53) eked out 3 points or 0.01% for the day. American Express (AXP) paced the gainers with a 2.4% win. Apple (AAPL) led the laggards with a 2.1% loss.  

The S&P 500 Index (SPX - 3,963.94) fell 6.3 points, or 0.2% for the day, while the Nasdaq Composite Index (IXIC - 10,983.78) lost 65.7 points, or 0.6%.

Lastly, the Cboe Volatility Index (VIX - 21.89) shed 0.3 points or 1.4% for the session.

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NYSE Nasdaq 1129

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Rumors of incoming supply cuts and pressure to reopen China's economy sent crude higher for the day. The front-month, January-dated crude added 96 cents, or 1.2%, to trade at $78.20 per barrel.

A steadying greenback sent gold prices higher today to regain some of yesterday's lost ground. The now most-active, February-dated gold tacked on $8.40 or roughly 0.5%, to settle at $1,763.70 an ounce.

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