Stocks mixed as Nasdaq dips, Bitcoin falls

Barron’s top three: Fed chair spooks markets with hawkish turn

‘Barron’s Roundtable’ panel reveals the three most important things investors should be thinking. 

U.S. stocks are set to open mixed as a busy week kicks off with inflation and omicron top of mind for investors. 

The Dow Jones Industrial Average rose over 300 points or 0.9%, while the S&P 500 gained 0.3%. The Nasdaq Composite fell over 0.4%. 

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES35031.83+451.75+1.31%
SP500S&P 5004565.43+27.00+0.59%
I:COMPNASDAQ COMPOSITE INDEX15063.713544-21.76-0.14%

On Monday, the National Association of Business Economists released a fresh survey signaling inflationary pressures may increase. The NABE panelists project that the overall consumer price index will rise 6% year-over-year in the fourth quarter of 2021, compared to September's forecast of 5.1%. CPI inflation is expected to remain elevated by the end of 2022 at 2.8% year-over-year, compared to September's forecast of 2.4%. 

On Friday, data on the Consumer Price Index will be released. 

In stocks, Kohl's shares are in focus after activist firm Engine Capital called for the retailer to sell itself or break up.

TickerSecurityLastChangeChange %
KSSKOHL’S CORP.51.30+2.84+5.87%

Shares of Lucid Motors traded down after the company disclosed it is the subject of a probe by the Securities and Exchange Commission via subpoena over the SPAC deal which took the company public.

TickerSecurityLastChangeChange %
LCIDLUCID GROUP, INC.39.91-7.37-15.58%

Tesla is also in focus after Reuters reported the SEC is looking into its Solar City arm and issues with its solar panels. 

TickerSecurityLastChangeChange %
TSLATESLA, INC.983.12-31.85-3.14%

Investors are also eyeing bitcoin after a volatile week that saw the cryptocurrency trade below the $50,000 where it remained on Monday. 

In global markets, European shares rose after a lackluster day in Asia, where shares fell in Hong Kong and Shanghai after troubled Chinese property developer Evergrande warned it may run out of money.

Moving to reassure investors and keep growth from stalling, China’s central bank cut the amount of funds banks are required to keep in reserve. That freed up 1.2 trillion yuan ($190 billion) for banks to lend.

The Associated Press contributed to this report.

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