Market Debrief (Thursday March 24, 2022)

 Happy Thursday Stock Talkers!


Stocks have flip flopped from gains and losses this week. Today showed strong gains among all the major indices. Investors are still weighing information from the Fed and the war in Ukraine. Sentiment was positive on the market today, so investors saw the bright side through these situations. The US announced that it will increase sanctions against Russia, in which they will target members of Russia parliament and central bank. We also announced that we would be able to take in 100,000 Ukrainian refugees to ease a little bit of the refugee crisis overseas. The United States also pledged to donate $1 Billion in supplies to help out Ukraine. In Russian news, the market opened again for the first time in a month. The Central Bank in Russia banned the short-selling of stocks and will not allow foreign investors to sell stocks. This was a little skeptical, but seems like some hope for the Russians to stay afloat economically. We have now surpassed the two year mark since the S&P 500 bottomed out at the beginning of the pandemic. We have seen outrageous gains since then, and the best two year stretch since 1937. Things are still in turmoil, so daily briefings are getting repetitive. It seems like it will be a while before we finally get some clarity both on global economic impacts and also what the Fed will decide to do with the interest rate hikes. 

Major Indices:    

  • S&P 500      4,520.16 +63.92 (+1.43%)
  • DJI              34,707.94 +349.44 (+1.02%)
  • Nasdaq        14,191.84 +269.23 (+1.93%)

Most Active Stocks (Volume):

  • Advanced Micro Devices, Inc. ($AMD) (121.173M)
  • NIO Inc. ($NIO) (90.573M)
  • NVIDIA Corporation ($NVDA) (87.338M)

Notable Gainers (Large Cap):

  • Cleveland-Cliffs Inc. ($CLF) (+12.04%)
  • NVIDIA Corporation ($NVDA) (+9.82%)
  • GLOBALFOUNDRIES Inc. ($GFS) (+8.75%)

Notable Losers (Large Cap):

  • Pinduoduo Inc. ($PDD) (-9.03%)
  • EPAM Systems, Inc. ($EPAM) (-6.07%)

Company News:

  • Airbnb ($ABNB) has partnered with Save the Children to assist Ukranian refugees.
  • Netflix ($NFLX) has cracked down on sharing, enforcing new rules.
  • USPS has ordered 50k new trucks and 10k electric trucks. 
  • Customers have claimed to be conned on Zelle.
  • Southwest ($LUV) has launched a new, second-cheapest fare.
  • BlackRock executive sees Russia-Ukraine war as end of globalization.
  • Alaska Airlines has turned two more planes into freight planes in bet on air cargo.
Earnings I'm Watching Tomorrow:
  • BRP Inc. ($DOOO)

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

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