Market Debrief (Thursday May 5, 2022)

 Happy Cinco De Mayo Stock Talkers!


Wow! Stocks took a huge dump today after the huge jump after the Fed decision yesterday. Nasdaq fell almost 5% and Dow was down over 1,000 points. I would officially call this an epic bear market. The indices are now trading almost like meme stocks and seem to be fluctuating everyday. Investors seemed to be pleased with the decision of the Fed yesterday and caused the stocks to soar after the meeting. However, today seemed to play a different story. The stocks tanked as there was a resurgence of fear that the Fed will be able to effectively curb inflation without putting the economy into any sort of recession. I think we were cheering on the fact that we weren't going to see 0.75 interest rate hikes, but in reality this might be seen as too mild of a path to curb the inflation. I think consumers are sick and tired of seeing these high prices swarming the economy and want an end to it. It is so volatile in the market right now, it is practically impossible to predict what the next move will be. With the epic bear market lingering though, it should be an optimal time to buy some of these stocks off their highs from late last year. I'm picking some quality companies to get into and also picking up some ETFs and Index Funds that follow the S&P 500.

Major Indices:    

  • S&P 500      4,146.87 -153.30 (-3.56%)
  • DJI              32,997.97 -1,063.09 (-3.12%)
  • Nasdaq        12,317.69 -647.16 (-4.99%)

Most Active Stocks (Volume):

  • Advanced Micro Devices, Inc. ($AMD) (116.566M)
  • Apple Inc. ($AAPL) (130.14M)
  • Nio Inc. ($NIO) (95.29M)

Notable Gainers (Large Cap):

  • Albemarle Corporation ($ALB) (+9.76%)
  • Kellogg Company ($K) (+3.51%)

Notable Losers (Large Cap):

  • Etsy, Inc. ($ETSY) (-16.83%)
  • Nio Inc. ($NIO) (-15.17%)
  • Shopify Inc. ($SHOP) (-14.91%)
Earnings I'm Watching Tomorrow:
  • Enbridge Inc. ($ENB)
*Information from Yahoo Finance, CNBC, Fox Business, and Nasdaq

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