Following up on my second week with this new format, what follows below is the market summary for each day Monday thru Friday of this past week.
Mon 2-28-22
Stocks Falls, Oil Leaps as Ukraine Crisis Deepens
For some
odd reason, my usual market sources did not publish any daily summaries
today. I got this short blurb off the
Wall Street Journal but must subscribe to get more detail. This blurb is so short I won’t bother to
summarize.
DJ: 34,058.75 +834.92 NAS: 13,694.62
+221.04 S&P: 4,384.65
+95.95 2/25
DJ: 33,892.60 -166.15 NAS: 13,751.40 +56.77 S&P: 4,373.94
-10.71 2/28
Oil
prices jumped, stocks fell and Russian authorities scrambled to keep a grip on
domestic markets, as investors rushed to adjust to geopolitical developments
including new sanctions against Russia.
Tue March 1, 2022 4:19 PM
Wall
Street ends sharply lower as Ukraine crisis sows fear
By Devik Jain and Noel Randewich
The
euphoria the markets saw last week as the war seemed to be going badly for
Russia turned once again to fear today as the crisis deepened with Putin
appearing undeterred bring all the indexes down, the Dow 597 points, the Nasdaq
218. The financial sector was hit particularly hard even as manufacturing and
construction improved. But as today’s expert put it, “We’re dealing with a
purely emotional investor response” and that “given the fact that the U.S.
economy is accelerating, the uncertainty will be relatively short lived,”
relatively being defined as just a couple more weeks. So far, the S&P is down 10% for the year,
the Nasdaq 13 percent. Volume was considerably above average as 14.9
billion.
DJ: 33,892.60 -166.15 NAS: 13,751.40
+56.77 S&P: 4,373.94
-10.71 2/28
DJ: 33,294.95 -597.65 NAS: 13,532.46 -218.94 S&P: 4,306.26
-67.68 3/1
Wed March 2, 2022 4:16 PM
Wall
Street ends sharply higher, Powell assuages rate worries
By Devik Jain and Noel Randewich
Yesterday’s
fears over Ukraine were almost completely overwhelmed today by new optimism
over rate hikes when Powell signaled a 25 basis point hike in March, less than
expected and boosting all three indexes considerably. Adding to the good news
was data showing more hiring than expected so the labor market was continuing
to recover. Volume continues above average at 13.1 billion.
DJ: 33,294.95 -597.65 NAS: 13,532.46
-218.94 S&P: 4,306.26
-67.68 3/1
DJ: 33,891.35 +596.40 NAS: 13,752.02 +219.56 S&P: 4,386.54
+80.28 3/2
Thu March 3, 2022 4:40
PM
Stocks
slide as oil surge kindles inflation fears
By Herbert Lash
The Dow was
first up nearly 300 on Powell’s statements on rate hikes, then down about 250
with commodities prices surging and Powell later telling the Congress something
we already knew, that the war in Ukraine would likely impact the U.S. economy
via higher prices. So fear over Ukraine
took over again with all the indexes falling again. Of course commodities are
surging since many of them were coming from Russia. Of course, the war is going to result in
higher prices, especially in oil, since the war has cut off a good chunk of the
supply. We knew this but we also know
the market is both volatile and uncertain.
DJ: 33,891.35 +596.40 NAS: 13,752.02
+219.56 S&P: 4,386.54
+80.28 3/2
DJ: 33,794.66 -96.69 NAS: 13,537.94 -214.07 S&P: 4,363.49
-23.05 3/3
Fri March 4, 2022 4:28 PM
Wall
Street ends down as Ukraine fears eclipse solid jobs data
By Devik Jain and Noel Randewich
The Dow was
down as much as 550 points mid morning but recovering to a 179 point drop by
close. Again, Ukraine dominates
sentiment even to the point of drowning out an incredibly strong jobs report,
something that under any other circumstances would be the most important
headline. But events in Europe have
changed all that. Volume continues above
average at 13.9 billion.
DJ: 33,794.66 -96.69 NAS: 13,537.94
-214.07 S&P: 4,363.49
-23.05 3/3
DJ: 33,614.80 -179.86 NAS: 13,313.44 -224.50 S&P: 4,328.87
-34.62 3/4
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