Market Debrief (Wednesday March 2, 2022)

 Happy Wednesday Stock Talkers!


Stock reversed course on Wednesday, making up for losses suffered yesterday. Investors gained some clarity on Federal Reserve Chair Powell's remarks about interest rate hikes. The Central Bank is still scheduled to induce the first interest rate hike later this month, as Powell sees the economy as strong, even with geopolitical issues going on overseas. The hot topic over the past couple days has been energy. Crude Oil rose one again today, finishing at close too $112.00 a barrel, this is the highest price a barrel has been since 2011. In news with the war, Apple ($AAPL) decided to pause all product sales in Russia. Disney ($DIS) decided that it will stop releasing films in Russia. With all of this uncertainty about if Russia will continue to export to other countries, the market mirrors the uncertainty. If the rumors are true, that Russia will stop exports, I think the market has more losses cut out for itself. 

Major Indices:

  • S&P 500       4,386.54 +80.28 (+1.86%)
  • DJI              33,891.35 +596.40 (+1.12%)
  • Nasdaq       13,752.02 +219.56 (+1.62%)

Most Active Stocks (Volume):

  • SoFi Technologies, Inc. ($SOFI) (145.867M)
  • Ford Motor Company ($F) (136.753M)
  • Advanced Micro Devices, Inc. ($AMD) (116.806M)

Notable Gainers (Large Cap):

  • Ford Motor Company ($F) (+8.38%)
  • Upstart Holdings, Inc. ($UPST) (+7.93%)
  • Dell Technologies Inc. ($DELL) (+7.46%)

Notable Losers (Large Cap):

  • Rivian Automotive, Inc. ($RIVN) (-13.49%)
  • Sea Limited ($SE) (-6.92%)

Earnings I'm watching tomorrow:

  • Costco Wholesale Corporation ($COST)
  • Broadcom Inc. ($AVGO)
  • Kroger Company ($KR)
  • Brown Forman Corporation ($BF.B)
  • Best Buy Co., Inc. ($BBY)
  • Marvell Technology, Inc. (MRVL)


*Information about Yahoo Finance and Nasdaq

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