Stocks extended last week’s losses as yields hit new highs. All 11 S&P 500 sectors finished in the red. The energy market was mixed as crude oil was down over 3% and gasoline was up almost 7% on the day. The 10-year treasury hit a new high. In terms of bitcoin, it continues to slide lower and finished at the $39K level. Next, Scott Connor discusses the strength in FedEx (FDX), Dow Inc. (DOW), and Wells Fargo (WFC) stocks. On the other hand, FAANGM+ names like Microsoft (MSFT), Apple (AAPL), and others including Exxon Mobil (XOM), Pfizer (PFE), and Tesla (TSLA) saw weakness. Finally, the AT&T (T) stock price was up almost 8% following the completion of the WarnerMedia spinoff.
11 Apr 2022