Market Debrief (Friday March 4, 2022)

 Happy Friday Stock Talkers!


Tech stocks led the declines today, as all major indices saw losses on the final day of trading for the first week of March. The sentiment for todays market was indicative of Russia taking control of Europe's largest nuclear power plant in Ukraine. On to positive news, the United States February unemployment rate came in at 3.8%, which was below the estimate of 3.9%. The unemployment rate has now reached levels that we have not seen since February 2020 (before the pandemic). It seems as if the economy is starting to come to a full recovery from Covid-19. Another note was that United States Non-farm Payrolls came in at +687k, which was above estimates of +440k. This is another indicator that the economy is strengthening and recovering from pandemic woes. March got off to a rough start this week, as we only saw one day with major indices up, which was Tuesday. I expect uncertainty to stay around and markets continue to be volatile for the next couple weeks. Once we get more clarity about war, which is highly unlikely because right now it seems anything can really happen, then I think that's when markets will start to stabilize and gain some sense of clarity.

Major Indices:

  • S&P 500     4,328.87 -34.62 (-0.79%)
  • DJI             33,614.80 -179.86 (-0.53%)
  • Nasdaq       13,313.44 -224.50 (-1.66%)
Most Active Stocks (Volume):
  • Occidental Petroleum Corporation ($OXY) (101.365M)
  • Advanced Micro Devices, Inc. ($AMD) (99.463M)
  • Ford Motor Company ($F) (90.624M)
Notable Gainers (Large Cap):
  • Occidental Petroleum Corporation ($OXY) (+17.59%)
  • Alcoa Corporation ($AA) (+9.37%)
  • Chesapeake Energy Corporation ($CHK) (+8.26%)
Notable Losers (Large Cap):
  • WeWork Inc. ($WE) (-22.31%)
  • Coupang, Inc. ($CPNG) (-17.16%)
  • VIZIO Holding Corp. ($VZIO) (-16.31%)
Major Company News:
  • Shell plc ($SHEL) bought flagship crude from Russia at a record discount. The company paid about $28.50 less than what Dated Brent is currently trading for.
  • Meta Platforms, Inc. ($FB) has been blocked from being used by Russia.
  • Microsoft Corporation ($MSFT) has completed its acquisition of Nuance.
  • Tesla, Inc. ($TSLA) has received final approval for its German Gigafactory
  • The Walt Disney Company ($DIS) says that it will implement an ad-supported subscription later this year.
  • The Kroger Company ($KR) announced that it has partnered with Impossible Foods to create meat substitutes for its private label business.
  • Airbnb, Inc. ($ABNB) announced that it will suspend all operations in Russia and Belarus. 


*Information attained from Yahoo Finance, CNBC, and Fox Business

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