Market Report for Feb 11 2022
S&P 500 = Mixed
Nasdaq Composite = Mixed
Dow Jones Industrial Average -3.0% YTD
S&P 500 -5.5% YTD
Russell 2000 -8.9% YTD
Nasdaq Composite -9.3% YTD
NYSE Vol: 1.0 bln (Above)
Nasdaq Vol: 5.0 bln (Above)
Slightly heavy volume on Thursday based on the initial sell off after the CPI data which increased 0.6% MoM indicating inflation is getting worse but the market did start to show signs on intraday recovery from there, right up until St. Louis Fed President Bullard who is an FOMC voter said he is open to larger rate hikes. That was the catalyst to change market sentiment.
All the indices and all 11 sectors closed in the red with VIX finding strength. Of course the 10-yr (chart above) wanted in on the action and is now dealing above 2%.
DDOG and DIS had better than expected earnings and were our best performers of the day.
Last trading day of the week so we can sit back and relax as the market digests everything from yesterdays session.
Let’s go trade!