Market Debrief (Tuesday March 8, 2022)

 Happy Tuesday Stock Talkers!


Stocks saw slight declines today as indices enter into correction ranges. President Joe Biden announced that the United States will ban imports on oil and energy from Russia. This caused investors to worry about gas prices heightening and inflation worsening. WTI crude oil futures were around $124 as it continually rises, it wouldn't be surprising to see it hit $150 a barrel soon. We could also see further disruptions in the supply chain as the war continues to go on. This is causing investors to see a rise in inflation rather than inflation easing due to the interest rate hikes about to be put in place. The hot topic of the day was the commodity Nickel, it was halted for trading on the London Metal Exchange as it rose over $100,000 per metric ton. Apparently there was a short squeeze on the commodity due to supply concerns over the war. From my point-of-view, this seems more like a wait and play kind of game with the market. With all of the uncertainty lingering in the market, it is no surprise that a lot of selloff is happening to put the money into safe-haven assets. 

Major Indices:

  • S&P 500      4,170.70 -30.39 (-0.72%)
  • DJI             32,632.64 -184.74 (-0.56%)
  • Nasdaq       12,795.55 -35.41 (-0.28%)
Most Active Stocks (Volume):
  • Advanced Micro Devices, Inc. ($AMD) (135.17M)
  • Apple, Inc. ($AAPL) (129.141M)
  • Ford Motor Company ($F) (97.8M)
Notable Gainers (Large Cap):
  • Nu Holdings Ltd. ($NU) (+10.98%)
  • Enphase Energy, Inc. ($ENPH) (+10.82%)
  • AerCap Holdings N.V. ($AER) (+10.80%)
Notable Losers (Large Cap):
  • DiDi Global Inc. ($DIDI) (-11.25%)
  • Cleveland-Cliffs Inc. ($CLF) (-9.13%)
  • Shopify Inc. ($SHOP) (-8.18%)
Company News:
  • Google ($GOOGL) has acquired Mandiant ($MNDT) a Cybersecurity firm for $5.3B ($23 per $MDNT share in cash).
  • Taiwan Semiconductor ($TSM) is considering a price hike for the 8-inch foundry services.
  • Lululemon ($LULU) revealed its first footwear collection.
  • Apple ($AAPL) is still continuing its plans to develop an "Apple Car".
  • Block ($SQ) has announced that Cash App has changed its instant deposit fee from a flat 1.5% to a variable 0.5%-1.75% fee
  • Apple ($AAPL) announced a partnership with the MLB to stream Friday Night Baseball on AppleTV +.
  • Apple ($AAPL) announced the new iPhone SE, which will feature a home button with Touch ID. They have priced the phone at $429 and will start shipping them on March 18.
  • Coca-Cola ($KO) and rival Pepsi ($PEP) have both suspended operations in Russia.
  • Starbucks ($SBUX) has suspended operations in Russia.
Earnings I'm Watching Tomorrow:
  • CrowdStrike Holdings, Inc. ($CRWD)
  • Campbell Soup Company ($CPB)
  • Asana, Inc. ($ASAN)
  • Oatley Group AB ($OTLY)
  • ZIM Integrated Shipping Services LTD ($ZIM)
  • Express, Inc. ($EXPR)
  • Marqeta, Inc. ($MQ)



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

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