Market Debrief (Tuesday March 22, 2022)

 Happy Tuesday Stock Talkers!


Stocks rebounded from yesterdays losses, as Nasdaq saw a nearly 2% advance. It seems as investors shook off the remarks from Jerome Powell yesterday, with all eyes focused on the war in Ukraine. I think we should be a little nervous due to the fact that the yield curve is shifting and showing the short-term and long-term potentially overlapping each other. History shows that these instances can lead to an economic recession. Also, we could see grocery bills start to surge in the next couple of months, due to the fact that Ukraine (who produced 25% of wheat supply) might miss their planting season due to the war. This could be another surge of inflation in the United States as well as other countries that rely on Ukraine for wheat. I'm glad that we saw gains, especially in the Tech sector. Amazon is now only down 1% YTD, so some of these companies that suffered serious losses in the first two months of the year are starting to become afloat and picking up steam.

Major Indices:    

  • S&P 500      4,511.61 +50.43 (+1.13%)
  • DJI              34,807.46 +254.47 (+0.74%)
  • Nasdaq        14,108.82 +270.36 (+1.95%)

Most Active Stocks (Volume):

  • Advanced Micro Devices, Inc. ($AMD) (99.963M)
  • DiDi Global Inc. ($DIDI) (90.83M)
  • Alibaba Group Holding Limited ($BABA) (86.475M)

Notable Gainers (Large Cap):

  • Bilibili Inc. ($BILI) (+20.03%)
  • Pinduoduo Inc. ($PDD) (+18.85%)
  • Alibaba Group Holding Limited ($BABA) (+11.00%)

Notable Losers (Large Cap):

  • DiDi Global Inc. ($DIDI) (-4.09%)
  • Teck Resources Limited ($TECK) (-3.48%)
  • Grab Holdings Limited ($GRAB) (-3.10%)

Company News:

  • Tesla ($TSLA) has officially started delivering vehicles from its German Gigafactory.
  • BuzzFeed ($BZFD) investors have called on the CEO to shutdown the newsroom.
  • Pfizer ($PFE) is going to supply 4 million antiviral treatments to poorer countries.
  • Firefly, a rocket builder, is aiming for second launch in May.
  • General Motors ($GM) has recalled 740,000 vehicles for too bright of headlights.
  • Okta ($OKTA) was hacked by Lapsus$ and they gained access to internal controls.
  • Ford ($F) has had to stop some orders due to the war and chip shortages.
Earnings I'm Watching Tomorrow:
  • Cintas Corporation ($CTAS)
  • General Mills, Inc. ($GIS)
  • Trip.com Group Limited ($TCOM)

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

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