The stock market closed lower for the second consecutive day. In terms of energy, crude oil was down over 6% and gasoline was down over 4%. Also, the 10-Year Treasury Index finished over 1% lower, and bitcoin was down slightly to the $45K level. Next, Scott Connor weighs in on the financial sector being weak as interest rates came down. These stocks include Bank of America (BAC), JPMorgan Chase (JPM), and Wells Fargo (WFC). Additionally, the FAANGM stocks like Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms (FB) finished in the red. Advanced Micro Devices (AMD) was down over 8% after it was downgraded. In terms of economic data, Jobless Claims and Personal Income & Outlays reports were released.
31 Mar 2022