Market Debrief (Wednesday March 30, 2022)

 Happy Wednesday Stock Talkers!


Stocks finished lower today to end the 4-day winning streak they had going for them. S&P and Dow finished with mediocre declines while Nasdaq plummeted over 1%. Oil prices traded higher for the first time in 3 days as deescalation of the war seems to be the hope of everyone. The 10-year Treasury note yields and the 2-year Treasury note yields briefly intervened yesterday, which if history repeats itself, could be a sign of a recession. In other news, Apple has come out with plans to create its own payment platform system, which caused other small online payment companies to take a hit. This could be a make or break situation for a lot of these smaller companies due to the fact that a lot of them rely on these stingy little payments to fund their entire business. Some of them even have partnerships with Apple, and those could be cutoff if Apple is successful in creating their own payment platform. 

Major Indices:    

  • S&P 500      4,602.45 -29.15 (-0.63%)
  • DJI              35,228.81 -65.38 (-0.19%)
  • Nasdaq        14,442.27 -177.36 (-1.21%)

Most Active Stocks (Volume):

  • NIO Inc. ($NIO) (113.71M)
  • Advanced Micro Devices, Inc. ($AMD) (99.253M)
  • AMC Entertainment Holdings, Inc. ($AMC) (93.576M)

Notable Gainers (Large Cap):

  • Lululemon Atheltica Inc. ($LULU) (+9.58%)
  • Teva Pharmaceutical Industries Limited ($TEVA) (+6.47%)

Notable Losers (Large Cap):

  • Chewy, Inc. ($CHWY) (-16.10%)
  • AMC Entertainment Holdings, Inc. ($AMC) (-12.77%)
  • Carvana Co. ($CVNA) (-9.16%)

Company News:

  • Walgreens is turning to robots to fill prescriptions.
  • Hackers steal $600M in cryptocurrency (biggest crypto heist of all time).
  • FedEx has started talking about deliveries with drones.
Earnings I'm Watching Tomorrow:
  • Walgreens Boots Alliance, Inc. ($WBA)

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

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