Market Debrief (Wednesday March 23, 2022)

 Happy Wednesday Stock Talkers!


Wednesday was another day of losses for the major indices, as Dow saw a drop of nearly 450 points. Oil prices continued to climb, showing increases of the past couple of days. Where investors are still contemplating how to feel about the Fed possibly taking a more aggressive approach to hiking interest rates. Stocks to seem to keep fluctuating in price as we lack clarity in monetary policy as well as the war and its effects on the global economy. In other news, we saw the "meme" stocks take off again today. This could be a start to another run, or it could just be due to the fact that one big investor chose to put a huge amount of money into GameStop. This almost seems as he could be manipulating the stock, which could lead to detrimental consequences. 

Major Indices:    

  • S&P 500      4,456.24 -55.37 (-1.23%)
  • DJI              34,358.50 -448.96 (1.29%)
  • Nasdaq        13,922.60 -186.21 (-1.32%)

Most Active Stocks (Volume):

  • AMC Entertainment Holdings, Inc. ($AMC) (168.181M)
  • Apple Inc. ($AAPL) (97.853M)
  • Advanced Micro Devices, Inc. ($AMD) (90.459M)

Notable Gainers (Large Cap):

  • GameStop Corp. ($GME) (+14.50%)
  • AMC Entertainment Holdings, Inc. ($AMC) (+13.58%)

Notable Losers (Large Cap):

  • Okta, Inc. ($OKTA) (-10.74%)
  • Adobe Inc. ($ADBE) (-9.34%)
  • ResMed Inc. ($RMD) (-8.65%)

Company News:

  • Nikola ($NKLA) has begun production of its electric semi-truck.
  • Walmart ($WMT) has sued BJ's Wholesale in claims that it stole its self-checkout technology.
  • Alaska Airlines has offered employees double pay as staff shortages wave.
  • Beyond Meat and Pepsi launch their meatless Jerky under partnership.
  • A Home Depot online training pamphlet was leaked sparking debate.
  • Starbucks was sued over a poisoning claim.
  • Ford is recalling 200,000 pickups and suvs.
Earnings I'm Watching Tomorrow:
  • NIO Inc. ($NIO)
  • Darden Restaurants, Inc. ($DRI)
  • FactSet Research Systems Inc. ($FDS)

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

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