Analyst Views
U.S Markets, U.S. stocks gained momentum as investors' sentiments are positive as they digest President Biden's proposed budget plan and ahead of a big week for economic data, including the monthly jobs report. All the bourses are positive across the board. The Dow Jones Industrial Average rose 94 points or 0.3%, while the S&P 500 and Nasdaq Composite gained 0.7% and 1.3%, respectively. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34955.89 +94.65 +0.27%
SP500 S&P 500 4575.52 +32.46 +0.71%
I:COMP NASDAQ COMPOSITE INDEX 14354.901872 +185.60 +1.31%


Tax Regime, President Biden on Monday unveiled a new minimum tax targeting billionaires as part of his 2023 budget request, proposing a 20% rate that would hit both the income and unrealized capital gains of the wealthiest Americans.

Fintech Stocks, Tesla shares rose 8% after the company announced it will ask shareholders for additional stock to enact a split and a possible dividend. 

Ticker Security Last Change Change %
TSLA TESLA INC. 1,091.84 +81.20 +8.03%

Apple and Netflix are in focus after the Academy Awards ceremony. Apple's "CODA" marked the first Oscar win for a streaming company, while Netflix's "Power of the Dog" took home best director honors.

Separately, Apple may be cutting iPhone and Airpod production, according to a Japanese newspaper. 

Ticker Security Last Change Change %
AAPL APPLE INC. 175.60 +0.88 +0.50%
NFLX NETFLIX INC. 378.51 +4.66 +1.25%

AMC shares rose after CEO Adam Aron suggested he is ready to do more deals after buying Hycroft Mining. Other meme names jumped, including GameStop and Bed Bath & Beyond. 

Ticker Security Last Change Change %
GME GAMESTOP CORP. 189.98 +38.21 +25.17%
BBBY BED BATH & BEYOND INC. 26.32 +3.73 +16.51%

Beyond Meat shares were under pressure after the team at Piper Jaffray cut the stock to underweight, citing more competition in the plant-based meat world. 

Ticker Security Last Change Change %
BYND BEYOND MEAT INC. 49.14 +0.51 +1.05%

Commodities, Crude prices fell about 7% with U.S. oil settling at $105.96 per barrel, while Brent, the global benchmark, slid to $112.48. Oil majors fell in sympathy, with ExxonMobil, Chevron and Halliburton all down.

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 74.55 -6.22 -7.70%
XOM EXXON MOBIL CORP. 82.81 -2.39 -2.81%
CVX CHEVRON CORP. 166.35 -2.96 -1.75%
HAL HALLIBURTON CO. 37.32 -1.58 -4.06%

Gas prices remained below the $4.30-per-gallon level. 

In cryptocurrencies, Bitcoin inched closer to the $50,000 level and is now positive for the 2022 year with a gain of about 2%.