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Sunday, Aug 14, 2022
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Midday Stock Roundup

Indexes broadly jumped today in midday trading, poised to break a four-day losing streak as oil plummeted.

The S&P; 500 rose 2.7% to 4,281.27 while the Dow 30 was up 2.2% to 33,364.79 and the Nasdaq leaped 3% to 13,234.19.

A barrel of oil dropped 9.9% to $111.42.

Gold was off 2.6% to $1,990 an ounce.

The 10-year bond increased 1.9% to 1.9085%.

MEDICAL DEVICES

Inari Medical Inc. (Nasdaq: NARI) jumped 7.5% to $97.88 and a $5 billion market cap. Shares of the Irvine-based provider of devices to remove blood clots in veins are up about 29% since Feb. 23 when it reported fourth-quarter results that topped analysts’ consensus estimates.

RESTAURANT CHAINS

Chipotle Mexican Grill Inc. (NYSE: CMG) climbed 6.4% to $1,398.15 and a $39 billion market cap. The S&P; 600 Restaurant Index climbed 6.7% to 1,563.97. The Motley Fool website today wrote that the Newport Beach restaurant chain has pricing power and is “incredibly well-positioned” to combat inflation.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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