S&P and Nasdaq give back gains from yesterday

Yesterday, the

• S&P closed up 56.84 points or 1.49% at 3878.45
• Nasdaq NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term closed up 162.27 or 1.54% at 10709.38
• Dow closes up 526.74 points or 1.60% at 33376.49

Today, those gains were mostly clawed back (at least in the S&P and the Nasdaq indices).

• S&P closed down -55.86 points or -1.44% at 3822.59
• Nasdaq closed down -233.24 points or -2.18% at 10476.13
• Dow closed down -348.28 points or -1.04% at 33028.21
• Russell 2000 closed down -22.85 points or -1.29% at 1754.08

The markets were spooked initially by comments from legendary investor David Tepper who spoke more bearish about the stocks markets given the Fed and other central bank hawkish views on rates. When the GDP data for the 3Q came out better than expected with higher inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term it helped add to the bearish bias pre-market.

The good news, however, is things could have been worse. Intraday, the

• Dow was down -803.06 points at the low.
• S&P was down -113.96 points at the low
• NASDAQ was down -396.05 at session lows

Tomorrow the stock market will have full day of trading but it will be closed on Monday in observance of the Christmas holiday (which falls on a Sunday this year).