Market Debrief (Monday March 21, 2022)

 Happy Monday Stock Talkers!


Stocks showed declines today, breaking a 5 day winning streak for the Dow Jones 500. The main dictation of the move in stocks today was from the news that Federal Reserve Chair Jerome Powell would adjust the policy as needed. This would mean that the hike in interest rates would be sped up and could see a 0.5bps change instead of a 0.25bps. Energy and commodity prices went back to increasing today amid the latest actions in the Russian War. Crude Oil saw increases of 6% back to $111 a barrel, with Brent Crude rising to about $114 a barrel. With the central bank's monetary policy starting to become more clearer last week, we have seen a sign of strength in the economy. The Fed has also signaled to start quantitative tightening and roll off assets of its $9 trillion balance sheet. With signs of stock prices rising last week, I look for investors to focus merely on the war and Fed decisions, as this week has few major companies reporting earnings.

Major Indices:    

  • S&P 500      4,461.18 -1.94 (-0.04%)
  • DJI              34,552.99 -201.94 (-0.58%)
  • Nasdaq        13,838.46 -55.38 (-0.40%)

Most Active Stocks (Volume):

  • DiDi Global Inc. ($DIDI) (159.08M)
  • Advanced Micro Devices, Inc. ($AMD) (100.537M)
  • NIO Inc. ($NIO) (87.112M)

Notable Gainers (Large Cap):

  • Alcoa Corporation ($AA) (+10.00%)
  • Marathon Oil Corporation ($MRO) (+8.58%)
  • Occidental Petroleum Corporation ($OXY) (+8.39%)

Notable Losers (Large Cap):

  • KE Holdings Inc. ($BEKE) (-14.22%)
  • Shopify Inc. ($SHOP) (-12.38%)
  • Sea Limited ($SE) (-6.81%)

Company News:

  • Ford ($F) new F-150 Lightning has a 320-mile range which is better than what Rivian can offer
  • A Boeing ($BA) 737 crashed in China with 132 on board with no signs of survivors. 
  • U.S Space companies will look to benefit from Russia cutting ties to the space industry.
  • Kohl's ($KSS) has confirmed that they have received several offers for buyout.
  • PayPal ($PYPL) and Venmo have both said that they will increase costs on the trading of cryptocurrency.
  • Berkshire Hathaway ($BK.B) is to buy Alleghany Corporation ($Y).
  • Apple ($AAPL) was slammed over a service outage.
  • Chevron ($CVX) has seen 500 workers go on strike at one of the refineries.
Earnings I'm Watching Tomorrow:
  • Adobe Inc. ($ADBE)
  • Carnival Corporation & plc ($CCL)


*Information from Yahoo Finance, Nasdaq, Fox Business, CNBC, and Kiplinger's

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