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Saturday, Aug 13, 2022
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Midday Stock Roundup

Major indexes continued falling – about 15% this month – on concerns about rising interest rates, slowing U.S. growth and a continuing federal government shutdown. The markets closed early for Christmas Eve.

The S&P 500 fell 2.7% to 2,351.10.The Dow Jones Industrial Average declined 2.9% to 21,792.20. The Nasdaq was down 2.2% to 6,192.92.

The yield on a 10-year Treasury bond was 1.4% lower to 2.75%.

The price of gold was 1.1% higher to $1,272.

The price of a barrel of crude oil fell 3.6% to $43.94.

HEALTHCARE

HCP Inc. (NYSE: HCP) in Irvine fell 5.2% to $26.80 and a $13 billion market cap. Shares of the healthcare REIT have declined 11% since a 52-week high on Dec. 6.

Urovant Sciences Ltd. (Nasdaq: UROV) jumped 21% to $5.21 and a $158 million market cap.

The reason for the increase wasn’t clear because the company hasn’t issued a press release or a filing in the past couple of days. The Irvine-based clinical stage biopharma company went public in late September at $14 a share.

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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