Three out of the four major indices finished in the red, but the Dow Jones Industrial Average ($DJI) was up slightly on the day. Stocks closed mixed as markets snap a 3-week win streak. The price of crude oil can have an implication on the inflation front. It was up almost 2% and gasoline was up over 2%. The 10-Year Treasury spiked to a three-year high intraday and finished higher over 2% from the previous day. Next, Scott Connor discusses energy and financial sectors showing strength. These names included Occidental Petroleum (OXY), Exxon Mobil (XOM), JPMorgan Chase (JPM), and Goldman Sachs (GS). How will the bank stocks perform as they start the earnings season next week? On the other hand, FAANGM, technology, and social media stocks were lower with stocks like Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), and Tesla (TSLA). In terms of individual companies, Truist Securities adjusted Nvidia’s (NVA) price target to $298 from $350 and reiterated a buy rating. Moreove
08 Apr 2022