Market Debrief (March 1, 2022)

 Happy March Stock Talkers!


    Stocks took a tumble on the first day of March with all Major Indices posting declines. Investors are still trying to digest the sanctions by countries on Russia as well as the continuing Russian attacks on Ukraine. Dow Jones Industrial Average suffered its worst day since middle of February. S&P 500 and Nasdaq both fell close to 1.6% in todays trading session. One thing everyone has been keeping an eye out for is Crude Oil. Crude Oil reached its highest price at $105 a barrel, marking the highest price we have seen since 2014. With today marking the first day of March, we now have the Fed meeting upon us, and will be keeping a close eye out for interest rate hikes as well as the central banks intentions. While we look around the globe, Russia continues to suffer while it is at war and with all of the sanctions being imposed against them. I feel Russia is going to suffer a major economic recession that will be detrimental to the citizens of that country. The interesting thing will be how countries who were dependent on Russia for certain commodities respond. I know some European countries were (almost/if not) fully dependent on Russian commodities. A lot of speculation is going around about European countries finally reaching their point to turn fully green (rely on renewable resources/energy). I think this will be a huge transitional period, and will have a lot of uncertainty surrounding it for the next couple months. 

Major Indices:

  • S&P 500      4,306.26  -67.68 (-1.55%)
  • DJI             33,294.95 -597.65 (-1.76%)
  • Nasdaq       13,532.46  -218.94 (-1.59%)
Most Active Stocks (Volume)
  • Advanced Micro Devices, Inc. ($AMD) (124.796M)
  • Ford Motor Company ($F) (94.297M)
  • SoFi Technologies, Inc. ($SOFI) (93.208M)
Notable Gainers (Large Cap):
  • Albertsons Companies, Inc. ($ACI) (+7.72%)
  • Baidu, Inc. ($BIDU) (+6.84%)
  • Alcoa Corporation ($AA) (+5.89%)
Notable Losers (Large Cap):
  • Lucid Group, Inc. ($LCID) (-13.77%)
  • Sea Limited ($SE) (-13.12%)
Earnings to watch for tomorrow:
  • Paysafe Limited ($PSFE)
  • Snowflake, Inc. ($SNOW)
  • C3.ai, Inc. ($AI)
  • Okta, Inc. ($OKTA)

*Information attained from Yahoo Finance and Nasdaq

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