Market Report Apr 07 2022

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Market Report for Apr 07 2022

S&P 500 and Nasdaq charts

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

Stock Market %:
DJIA: -0.42
Nasdaq Composite: -2.22
S&P 500: -0.97
UK FTSE 100: -0.34

Market Volume:
NYSE Vol: 1.1 bln (Below)
Nasdaq Vol: 5.2 bln (Above)

Yields:
2-yr: -2 bps to 2.49%
3-yr: -3 bps to 2.69%
5-yr: unch at 2.70%
10-yr: +6 bps to 2.61%
30-yr: +6 bps to 2.63%

Comments:
Concerns about rising rates, the hawkish comments coming out of the Fed and their need to reduce the balance sheet by $95 bln a month are having an impact on this market. Stocks have fallen for two straight days on the back of rising yields that are hitting multi-year highs.

While we might be seeing a knee-jerk reaction, we need to be prepared for all outcomes.

The tone of the market is certainly that of concern right now and as a result, we need to manage our trades appropriately.

We now need to see if the market can manage to get support from the 200-day line.

Let’s go trade!