Analyst ViewsU.S Market, Tuesday trading was positive for the bourses across the board riding on stable commodity prices and corporate earnings which tempered the Russian-Ukraine war chaos.
| Ticker |
Security |
Last |
Change |
Change % |
| I:DJI |
DOW JONES AVERAGES |
34807.46 |
+254.47 |
+0.74% |
| SP500 |
S&P 500 |
4511.61 |
+50.43 |
+1.13% |
| I:COMP |
NASDAQ COMPOSITE INDEX |
14108.817117 |
+270.36 |
+1.95% |
Treasury Bills, Treasury yields hit their highest level since May 2019, 2.375%, after Fed Chairman Jerome Powell on Monday signaled more aggressive rate hikes may be needed to combat inflation. His remarks were made at the National Association of Business Economics.
Corporate actions, Financial shares including JPMorgan, Goldman Sachs and Bank of America rose in tandem with higher yields.
| Ticker |
Security |
Last |
Change |
Change % |
| JPM |
JPMORGAN CHASE & CO. |
142.62 |
+2.97 |
+2.13% |
| GS |
THE GOLDMAN SACHS GROUP INC. |
343.01 |
+4.01 |
+1.18% |
| BAC |
BANK OF AMERICA CORP. |
44.18 |
+1.34 |
+3.13% |
Commodities, Oil closed at $111.76 per barrel, while Brent, the global benchmark, rose to $115.48. Oil prices are up more than 45% this year, and prices for wheat and corn have also surged. Natural gas prices also remain elevated above $5.00
| Ticker |
Security |
Last |
Change |
Change % |
| USO |
UNITED STATES OIL FUND L.P. |
78.56 |
-0.98 |
-1.23% |
| BNO |
UNITED STS BRENT OIL FD LP UNIT |
31.81 |
-0.35 |
-1.09% |
| UNG |
UNITED STATES NATURAL GAS FUND LP UNIT (POST REV SPLIT) |
18.09 |
+0.65 |
+3.73% |
Stocks, Nike shares rose after profits and sales beat Wall Street estimates. Additionally, the apparel giant reiterated its commitment to Foot Locker, which gets a big chunk of revenue from its products.
| Ticker |
Security |
Last |
Change |
Change % |
| NKE |
NIKE INC. |
133.09 |
+2.90 |
+2.23% |
| FL |
FOOT LOCKER INC. |
31.50 |
+0.49 |
+1.60% |
Alibaba shares rose after the Amazon of China announced a $25 billion share repurchase plan, its largest ever.
| Ticker |
Security |
Last |
Change |
Change % |
| BABA |
ALIBABA GROUP HOLDING LTD. |
114.98 |
+11.40 |
+11.01% |
Tesla in focus as CEO Elon Musk opened Germany's Gigi factory in Berlin along with German Chancellor Olaf Scholz. The move is a big win for investors, according to Wedbush Securities analyst Dan Ives. "We cannot stress the production importance of Giga Berlin to the overall success of Tesla's footprint in Europe and globally," said Ives in a research note to clients.
| Ticker |
Security |
Last |
Change |
Change % |
| TSLA |
TESLA INC. |
993.98 |
+72.82 |
+7.91% |
Drugmakers, Moderna in focus as it announced new development programs to expand use of its COVID-19 vaccine to treat conditions related to the virus.
| Ticker |
Security |
Last |
Change |
Change % |
| MRNA |
MODERNA INC. |
186.72 |
+11.34 |
+6.47% |
In cryptocurrencies, Bitcoin traded above the $42,000 level.
SPOT MARKET BY THE HOUR AS OF GMT 09:37 03-23-22
European Market, Current trading sentiments are positive though cautious and positions may swing either way depending on new economic developments. London's FTSE climbed by 0.46% to 7,511.03, Germany's DAX climbed by 0.02 to 14,473.7 while France's CAC retreated by 0.25% to 6,641.6
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
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