Market Debrief (Tuesday March 29, 2022)

Happy Tuesday Stock Talkers!



Stocks recorded another day of gains on Tuesday, as investors weighed the news of "peace talks" between Russia and Ukraine happening in Instanbul. Names like Tesla, Amazon, and Apple have all seen gains over the past month bring their YTD gains back into positive territories. We are seeing earnings estimates come in higher, which is seen as a strong sign for the recovery of the economy. Economic data was released about jobs in the US, we saw vacancies decrease a little bit, but companies are still having a tough time bringing sidelined workers back into the workforce. The peace talks seem to be the hottest topic, if we can gain ceasefire in the war overseas, we can be in for some glory with the market. We will also continue to monitor some of the economic data still to be presented this week.

Major Indices:    

  • S&P 500      4,627.05 +51.53 (+1.13%)
  • DJI              35,247.29 +291.40 (+0.83%)
  • Nasdaq        14,634.55 +279.65 (+1.95%)

Most Active Stocks (Volume):

  • AMC Entertainment Holdings, Inc. ($AMC) (211.206M)
  • Robinhood Markets, Inc. ($HOOD) (101.119M)
  • Advanced Micro Devices, Inc. ($AMD) (94M)

Notable Gainers (Large Cap):

  • Robinhood Markets, Inc ($HOOD) (+24.20%)
  • Rivian Automotive, Inc. ($RIVN) (+17.18%)
  • Grab Holdings Limited ($GRAB) (+13.66%)

Notable Losers (Large Cap):

  • ICL Group Ltd. ($ICL) (-5.71%)
  • The Mosaic Company ($MOS) (-5.18%)
  • GameStop Corp. ($GME) (-5.11%)

Company News:

  • Cleveland-Cliffs ($CLF) have reached a jersey patch deal with Cleveland Cavaliers.
  • FTC sues TurboTax owner Intuit ($INTU) for advertising software as "free".
  • GM ($GM) is looking to increase HummerEV production as the reservations exceeded expectations.
  • Dairy Queen is launching a "Stackburger" line as it saw record sales in 2021.
  • Georgia has sued Blue Cross Blue Shield for claims settlements practices.
  • Consortium is looking to buy Nielsen for $16B and take on its debt.
Earnings I'm Watching Tomorrow:
  • Paychex, Inc. ($PAYX)
  • BioNTech SE ($BNTX)
  • UiPath, Inc. ($PATH)

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

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