This archive report was first published on 5 January 2022.
On January 5, 2022, the US stock market traded mixed ahead of the release of key data on employment rates, services, and manufacturing sectors' activity, as well as crude oil stocks.
The Dow Jones Industrial Average rose 0.5% on Tuesday, reaching a record close of 36,799.65 and hitting an intraday record earlier in the session. The S&P 500 remained unchanged, with Ford Motor's shares surging to a twenty-year high.
However, the Nasdaq 100 fell 1.35%, dragged down by plummeting tech stocks.
Ford Motor ¶
Shares of Ford Motor rose 11.7% after the company announced plans to nearly double the annual production capacity of its upcoming electric F-150 Lightning pickup to 150,000 vehicles per year by mid-2023. This is the second time the company has doubled production goals for the F-150, which is set to be released in the spring.
Pfizer Inc. ¶
Earlier on Tuesday, Pfizer Inc. announced that the United States government has committed to purchasing an additional 10 million treatment courses of its COVID-19 oral therapy, Paxlovid. The latest order brings the total number of treatment courses that the US will be buying to 20 million, with the first 10 million courses to be delivered by June and the second part estimated to be delivered by the end of September.
Nvidia Corporation ¶
Nvidia Corporation unveiled new GeForce RTX 3080 Ti and RTX 3070 Ti laptop GPUs, as well as a GeForce RTX 3050 GPU for desktop computers. The RTX 3080 Ti boasts 16GB of the fastest GDDR6 memory ever shipped in a laptop, while the RTX 3050 has 8GB of GDDR6 memory and can power the latest ray-traced games at over 60 frames per second.
