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Stock Market Today: Energy Prices Higher & Bitcoin, Tesla, FAANG Stocks Lower

Dow Jones today finished lower along with the Nasdaq-100, Russell 2000, and S&P 500. The stock market fell overall after the CPI print and reached a new 2022 low. Energy products that influence inflation were up. These include crude oil, gasoline, and natural gas. The crypto product, bitcoin continues to fall and is now down to the $28K price level. Next, Scott Connor weighs in on stocks like Exxon Mobil (XOM), Phillips 66 (PSX), Exelon (EXC), and Duke Energy (DUK), which finished in the green. On the other hand, stocks that saw weakness included Meta Platforms (FB), Walt Disney (DIS), Apple (AAPL), Microsoft (MSFT), and Tesla (TSLA). Also, Airbnb (ABNB) announced that they will be changing booking options to focus on longer trips. The ABNB stock price remained relatively flat following the announcement. Netflix (NFLX) stock price fell to a new 52-week low. Finally, Connor discusses economic data like the Consumer Price Index. Will investors get a better PPI number?

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11 May 2022

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