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The Wrap: FAANGM, Materials, UBER, & SPOT Stocks Rally

Markets held their gains today with S&P 500 being on pace for another winning week. In terms of energy, crude oil and gasoline finished lower. Next, bitcoin was up almost 4% on news from Russia that they might start accepting it as payment for petroleum. Also, Scott Connor discusses technology and social media stocks being up. These include Nvidia (NVDA), Intel (INTC), Apple (AAPL), Alphabet (GOOGL), and Meta Platforms (FB). The materials sector was strong as well with stocks like Linde PLC (LIN), Dow Inc. (DOW), Freeport-McMoRan (FCX), Nucor (NUE), and Mosaic (MOS). Next, Connor provides his take on Uber Technologies (UBER) reaching an agreement to list New York City taxis on their mobile app. As a result, the UBER stock price finished up today. Additionally, Spotify (SPOT) shares jumped on the new Google Play billing system deal. Finally, the Jobless Claims and Durable Goods data was released today.

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24 Mar 2022

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