Market Debrief (Monday May 2, 2022)

 Happy Monday Stock Talkers!


Today marked the first day of trading on the stock market for May. We wrapped up April as one of the worst months we have seen since the depths of the pandemic. The indices were led by gains from the Tech stocks, as Nasdaq soared over 1.5% higher. The stocks have been slammed in the early part of this year and investors are looking for some clarity in the market. Investors will be watching the Feds next meeting taking place on Wednesday. We are expecting to hear some words from Powell and hope to get a policy statement from the central bank to gain some clarity. May marks the first month the Fed will start the quantitative tightening of its assets. GDP was reported at a negative percentage for the first time since 2020 last month. This has caused a lot of controversy over the talks of a possible recession occurring. The pressure lies on the Fed to make the corrections with little room for error. If error occurs with some of these policy adjustments, there is no doubt that the economy will shrink, and we could see a lot of trouble with markets. Earnings will continue to roll out this week from some pretty big companies. 55% of S&P 500 companies have reported earnings so far and 80% of them have topped their earnings estimates. Expected earnings growth rates are starting to look better, but the 7.1% rate would be the slowest growth rate for a quarter since 2020.  

Major Indices:    

  • S&P 500      4,135.38 +23.45 (+0.57%)
  • DJI              33,061.50 +84.29 (+0.26%)
  • Nasdaq        12,536.02 +201.38 (+1.63%)

Most Active Stocks (Volume):

  • Apple Inc. ($AAPL) (122.256M)
  • Advanced Micro Devices, Inc. ($AMD) (96.35M)
  • AT&T Inc. ($T) (67.439M)

Notable Gainers (Large Cap):

  • Roku, Inc. ($ROKU) (+11.01%)
  • EPAM Systems, Inc. ($EPAM) (+8.87%)
  • Coupang, Inc. ($CPNG) (+8.00%)

Notable Losers (Large Cap):

  • Iron Mountain Incorporated ($IRM) (-5.64%)
Earnings I'm Watching Tomorrow:
  • Pfizer, Inc. ($PFE)
  • Advanced Micro Devices, Inc. ($AMD)
  • Airbnb, Inc. ($ABNB)
  • Starbucks Corporation ($SBUX)

*Information from Yahoo Finance, CNBC, Fox Business, and Nasdaq

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