9 out of 11 S&P 500 sectors finished negative as markets fell today. In terms of energy like crude oil and gasoline, they were both up. Gold finished over 1% higher as well. Also, bitcoin finished at above a key 42K level. Next, Scott Connor weighs in on the financial sector being the worst performer as interest rates fell. Bank stocks include Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), and PNC Financial (PNC). On the other hand, energy stocks like Exxon Mobil (XOM), Chevron (CVX), ConocoPhillips (COP), and Occidental Petroleum (OXY) finished higher in relation to the crude oil price. Connor discusses Adobe (ADBE) being the worst performer in S&P 500 on Wednesday after their earnings report was released, and Tesla (TSLA) stock price being up over 10% this week even with the battery supply concerns. Finally, Mortgage Applications and New Home Sales data was published. Homebuilder stocks like Lennar (LEN), D.R. Horton (DHI), and KB Home (KBH) finished in the red.
23 Mar 2022