Market Report Feb 16 2022

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Market Report for Feb 16 2022

US Indices

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

Stock Market %:
DJIA: +1.22
Nasdaq Composite: +2.53
S&P 500: +1.58
UK FTSE 100: +0.9

Market Volume:
NYSE Vol: 919 mln (Below)
Nasdaq Vol: 4.3 bln (Below)

Yields:
2-yr: -2 bps to 1.57%
3-yr: -1 bp to 1.80%
5-yr: +2 bps to 1.94%
10-yr: +5 bps to 2.05%
30-yr: +6 bps to 2.36%

Comments:
Futures was bearish but that changed on the news some Russian military were returning to their bases. This immediately changed Futures to positive based on a knee jerk reaction and we then saw the market close in the green across the board.

Just when the markets get wind of bad news, there is an impulse move down, on Tuesday we had that in reverse. We should assume this as noise and follow our original plan of action. Do not be swayed by the shiny penny syndrome.

The S&P 500 managed to get above its 200-day line but the same could not be said for the Dow Jones Industrial Average or Nasdaq Composite.

Tech was the leader as Energy fell to the other end of the pack.

With all that was going on, the 10-yr yield hardly found room for a reaction on the PPI report that came in at 1% MoM.

We have a lot of news to contend with today so be prepared!

Let’s go trade!