Market Report Apr 21 2022

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Market Report for Apr 21 2022

S&P 500 and Nasdaq Composite

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

Stock Market %:
DJIA: +0.71
Nasdaq Composite: -1.22
S&P 500: -0.06
UK FTSE 100: +0.37

Market Volume:
NYSE Vol: 850 mln (Below)
Nasdaq Vol: 4.5 bln (Below)

Yields:
2-yr: -1 bp to 2.57%
3-yr: -2 bps to 2.78%
5-yr: -3 bps to 2.86%
10-yr: -7 bps to 2.84%
30-yr: -11 bps to 2.88%

Comments:
A bearish day for the most part on Wednesday. However, the Dow Jones Industrial Average managed a fairly good session and racked up 250 points.

It was a sad day for NFLX which closed 35% lower after subscriber concerns were mentioned in the call. This is a stock we own but we will now be looking for an exit. Bill Ackman had bought into the stock earlier this year and if he still owns it, he will be sitting on a rather large paper loss right now.

NFLX market cap

We are continuing to use caution as we are in earnings season. For us that means management is more important than shopping.

TSLA reported their earnings AMC which were quite good. Up overnight but the anticipation pre-earnings had brought some weakness during the session.

TSLA post market

Let’s go trade!