Market Debrief (Thursday March 3, 2022)

 Happy Thursday Stock Talkers!


    Tech stocks led the declines today, as all major indices finished lower in todays trading session. Energy prices have seemed to steady, after reaching multi-year highs in the past couple days. This morning, it was reported that jobless claims reached its lowest levels since the end of December. In other news, New York Fed sees supply chain disruptions easing. This can be a good note for companies that have been suffering in the past year with supply chain issues. Diving deeper into yesterdays Fed briefing, Powell said it was likely that the the rates will hike 25 basis points at the meeting in late March. I think with the war going on, and all the economic uncertainty derived from it, we could see some serious damage to the economy if the rates are hiked too fast. Therefore, Powell will likely wait until later on in the year to get more aggressive with the interest rate hikes. As investors still weigh what an economy would look like without dependency on certain Russian commodities, levels of uncertainty swarm the stock market. 

Major Indices:

  • S&P 500      4,363.49 -23.05 (-0.53%)
  • DJI             33,794.66 -96.69 (-0.29%)
  • Nasdaq       13,357.94 -214.08 (-1.56%)
Most Active Stocks (Volume):
  • Advanced Micro Devices, Inc. ($AMD) (122.884M)
  • Grab Holdings Limited ($GRAB) (115.346M)
  • Ford Motor Company ($F) (92.701M)
Notable Gainers (Large Cap):
  • The Kroger Co. ($KR) (+11.61%)
  • Best Buy Co., Inc. ($BBY) (+9.22%)
  • Brown-Forman Corporation ($BF-B) (+7.08%)
Notable Losers (Large Cap):
  • Grab Holdings Limited ($GRAB) (-37.28%)
  • Veeva Systems Inc. ($VEEV) (-16.24%)
  • Snowflake Inc. ($SNOW) (-15.37%)
Earnings I'm watching tomorrow:
  • Hibbett, Inc. ($HIBB)
  • inTest Corporation ($INTT)
  • Rapid Micro Biosystems, Inc. ($RPID)
  • Fathom Digital Manufacturing Corporation ($FATH)
  • OFS Capital Corporation ($OFS)


*Information from Yahoo Finance and Nasdaq


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