Market Summaries for w/e Fri 3-18-22

 Below please find the market summaries for each day of this past week.  

Mon  March 14, 2022  4:37 PM

Tech, growth stocks lead Wall Street to lower close

as investors focus on interest rates

By Caroline Valetkevitch

With Ukraine fears mounting, all three indexes continued the rout that began Thursday with only the Dow recovering its losses as investors continue to take out insurance and rotate from growth to value, namely in the widely expected rate hike coming Wednesday that is seen to favor value over growth since higher interest rates will hurt the valuations of the hi-tech growth companies. The good news is that crude dropped below $110, quite the change from the $139 just a week ago.  Volume remains brisk at 14.2 billion. 

DJ:          32,944.19  -229.88                  NAS:       12,843.81  -286.15                  S&P:       4,204.31  -55.21      3/11

DJ:          32,945.24  +1.05                     NAS:       12,581.22  -262.59                  S&P:       4,173.11   -31.20     3/14 

Tue  3-15-22  March 15, 2022  4:23 PM

Wall Street jumps as S&P snaps 3-day slump; Fed on tap

By Chuck Mikolajczak

After three sessions of 3-digit losses, all three indexes sprung into action today as oil dropped below $100 and the producer price index landed a softer number than expected, even if it was just 0.1% softer than expected.  There were also hints that progress in the Ukraine-Russia talks could end the crisis soon.  But the consensus that “the market is in a very oversold position” was probably the key factor that shot the Dow up almost 600 points and the Nasdaq and S&P equally impressive gains.  Volume continued high at just under 13.5 billion. 

DJ:          32,945.24  +1.05                     NAS:       12,581.22  -262.59                  S&P:       4,173.11   -31.20     3/14 

DJ:          33,544.34  +599.10                 NAS:       12,948.62  +367.40                 S&P:       4,262.45  +89.34     3/15

Wed  March 16, 2022  4:57 PM

Wall Street closes higher after Fed hikes rates, signals more to come

By Sinéad Carew , Devik Jain  and Bansari Mayur Kamdar

Yesterday’s big rally was matched again today with all three indexes zooming on what is now the official announcement of a ¼ point rate hike by the Fed.  As today’s expert put it, “Hearing the Fed finally say and act to tackle inflation is somewhat calming” though there were other analysts who took the contrary position that the aggressive projections could hurt the economy.  However, history has shown that rate hikes tend to be mostly good for stocks and apparently that’s all investors were concerned about today.  Volume was again very high at 15.8 billion. 

DJ:          33,544.34  +599.10                 NAS:       12,948.62  +367.40                 S&P:       4,262.45  +89.34     3/15

DJ:          34,063.10  +518.76                 NAS:       13,436.55  +487.93                 S&P:       4,357.86  +95.41     3/16

Thu  March 17, 2022  4:41 PM

Wall Street closes higher as worries ease around Fed, Russian default

By Sinéad Carew , Devik Jain  and Bansari Mayur Kamdar

For the third day the triple digit rally continues, today being attributed to the market still reacting to the relief of the Fed rate hike, or as today’s expert put it, “People have gotten more comfortable with the fact that rates are going higher, seeing today simply as a spillover effect from yesterday.”  There was also relief from the payment of Russian bond coupons which fell due this week and which the world feared would be the first default since 1918.  The only laggards today were the defensive sectors which is always good news.  Volume, though a little below recent averages, was still quite strong at nearly 12.9 billion. 

DJ:          34,063.10  +518.76                 NAS:       13,436.55  +487.93                 S&P:       4,357.86  +95.41     3/16

DJ:          34,480.76  +417.66                 NAS:       13,614.78  +178.23                 S&P:       4,411.67  +53.81     3/17

Fri  March 18, 2022  4:38 PM

Wall St closes higher after Biden-Xi talks end, oil steadies

By Sinéad Carew , Shreyashi Sanyal  and Sabahatjahan Contractor

The fourth day of triple-digit gains with both the Dow and Nasdaq up nearly 300 points each on optimism over talks between Biden and China over Ukraine. Oil also seemed to be stabilizing and that continued to bolster relief. Volume was huge at nearly 18.5 billion but much of this was due to triple witching on expiring futures contracts so the number can’t be trusted.  We’ll have to wait until Monday to get a good volume number. 

DJ:          34,480.76  +417.66                 NAS:       13,614.78  +178.23                 S&P:       4,411.67  +53.81     3/17

DJ:          34,754.93  +274.17                 NAS:       13,893.84  +279.06                 S&P:       4,463.12  +51.45     3/18