Dow Jones today was down over 3%, while the S&P 500 Index, Nasdaq-100, and Russell 2000 also finished lower after yesterday’s FOMC rally. Stocks had the worst day of 2022. All 11 S&P 500 sectors closed negative. In terms of energy prices that impact inflation, crude oil, gasoline, and natural gas were in the green. The 10-Year Treasury Yield was up over 5%, while the bitcoin price was down around 9%. Next, Scott Connor discusses stocks that closer lower, which included Alphabet (GOOGL), Meta Platforms (FB), Apple (AAPL), Microsoft (MSFT), and Amazon (AMZN). The Booking (BKNG) earnings report beat moved the stock price about 3% higher. Also, the Twitter (TWTR) stock price was up as Elon Musk secured $7.2B in financing for the takeover. Finally, Connor weighs in on economic data like Jobless Claims and Productivity & Labor Costs.
05 May 2022