Market Report Apr 06 2022

  • Post author:

Market Report for Apr 06 2022

Stock Market Major Averages

Market Trend:
S&P 500 = Up
Nasdaq Composite = Mixed

Stock Market %:
DJIA: -0.80
Nasdaq Composite: -2.26
S&P 500: -1.26
UK FTSE 100: -0.72

Market Volume:
NYSE Vol: 980 mln (Below)
Nasdaq Vol: 4.6 bln (Below)

Yields:
2-yr: +9 bps to 2.51%
3-yr: +11 bps to 2.72%
5-yr: +15 bps to 2.70%
10-yr: +14 bps to 2.55%
30-yr: +9 bps to 2.57%

Comments:
Interest rates pushed higher increasing market concerns and pushing equity prices lower. All the major averages were lower as the market prepared itself for Wednesday’s Fed minutes.

We intentionally did not do anything on Tuesday’s session and have been standing aside, although we added to one of our positions.

Elon Musk is now on the Board of Directors for TWTR and the stock managed to move up 2% in a weak session for most other stocks. Price us now dealing at the 200-day line.

TWTR Chart

When there is nothing to do, do nothing!

Today will be treated as a stand aside day.

Let’s go trade!