Market Debrief (Monday March 7, 2022)

 Happy Monday Stock Talkers!


    Stocks saw major declines to start the week, as all of the major indices decreased significantly. Investors are fearful of inflation rising and the damage the economy will face from the war in Ukraine. Consumers have seen the price of gas rise to significantly high levels over the past week. Prices of oil reached $130 yesterday evening, and I believe this is one of the reasons Investors fear inflation rising. As we see the prices of a lot of consumer goods increasing, I think a recession could be impending. The United States and European Union are in talks about cutting its ties with Russia for energy supply. This won't affect the United States, as we only rely on Russia for about 8% of energy. However, this could be detrimental for some countries apart of the EU, a lot of them are heavily dependent on Russia for its energy supply. I believe this is one of the main explanations for the increase in the energy prices currently. Banking stocks saw some declines in stock prices today, as investors digest the news of cyberattacks by Russians on banks. In other news about Russia, the country has become the most sanctioned country in the world. They surpassed countries like Iran, Syria, and North Korea. This is derived from a lot of the major countries worldwide cutting its business in Russia. As Investors stay fearful in these difficult times to comprehend, stocks are starting to reach lower and lower levels. It will be interesting to see how all of this ends up playing out.

Major Indices:

  • S&P 500      4,201.09 -127.78 (-2.95%)
  • DJI             32,817.38 -797.42 (-2.37%)
  • Nasdaq       12,830.96 -482.48 (-3.62%)
Most Active Stocks (Volume):
  • Bank of America Corporation ($BAC) (99.359M)
  • Advanced Micro Devices, Inc. ($AMD) (90.664M)
  • Ford Motor Company ($F) (84.217M)
Notable Gainers (Large Cap):
  • Schlumberger Limited ($SLB) (+8.12%)
  • Doximity, Inc ($DOCS) (+7.88%)
  • Halliburton Company ($HAL) (+6.15%)
Notable Losers (Large Cap):
  • United Airlines Holdings, Inc. ($UAL) (-15.01%)
  • Fortinet, Inc. ($FTNT) (-13.14%)
  • The Trade Desk, Inc. (-12.62%)
Company News:
  • Google ($GOOGL) says that it plans to invest $700M to purchase and upgrade its office in Warsaw, Poland.
  • Warner Bros' ($T) recent "The Batman" movie brought in $128.5M from the box office in the United States and an additional $120M internationally. 
  • Microsoft ($MSFT) has announced that it plans to establish 4th data center in India. 
  • Intel ($INTC) has announced that MobileEye has submitted an S-1 to the SEC with intentions to go public through an IPO.
  • Amazon ($AMZN) announced that is has agreed to acquire Veeqo, which is a company that manages tools to help businesses manage their storefronts on and off Amazon.
  • Amazon ($AMZN) is to finalize a deal with Kirk Herbstreit to be main analyst for Thursday Night Football.
  • Nio ($NIO) has begun test drives of its ET7 model with deliveries expected later this month in China.
  • Netflix ($NFLX) paid $30 million to directors Chike and Coodie for the documentary on Kanye West.
Earnings I'm Watching Tomorrow:
  • Dick's Sportings Goods Inc. ($DKS)
  • MongoDB, Inc. ($MDB)
  • Casey's General Stores, Inc. ($CASY)
  • Petco Health and Wellness Company, Inc. ($WOOF)
  • Bumble, Inc. ($BMBL)
  • Stitch Fix, Inc. ($SFIX)


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

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