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Laguna Hills
Wednesday, Oct 5, 2022
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Midday Stock Roundup

Technology stocks led a broad decline in indexes and bond yields continued rising as investors expect the Federal Reserve to raise interest rates.

The S&P; 500 was off 1.2% to 4,622.90 while the Dow Jones Industrial Average saw a 0.9% decrease to 35,909.10 and the Nasdaq was off 1.3% to 14,742.

Crude Oil fell 0.8% to $78.26 a barrel.

Gold was up 0.1% to $1,800 an ounce.

The yield on a 10-year bond climbed 0.508% to 1.78%.

RETAIL

Boot Barn Holdings Inc. (NYSE: BOOT) was down 8.5% to $111.43 and a $3.3 billion market cap. While the Irvine-based retailer on Friday posted fiscal third-quarter results that topped estimates, other retailers today warned the Omicron COVID variant may affect sales. The S&P; 500 Consumer Discretionary Index declined 2.1% today.

 

MEDICAL DEVICES

Staar Surgical Co. (Nasdaq: STAA) fell 5.4% to $78.25 and a $3.7 billion market cap. The Lake Forest-based company, which makes implantable foldable lenses for the eye, today reported preliminary fourth-quarter sales of $59 million, which missed the average analyst estimate of $59.6 million.

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