Market Report Mar 03 2022

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Market Report for Mar 03 2022

S&P 500 and Nasdaq chart

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

Stock Market %:
DJIA: +1.79
Nasdaq Composite: +1.62
S&P 500: +1.86
UK FTSE 100: +1.36

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

Yields:
2-yr: +22 bps to 1.52%
3-yr: +21 bps to 1.67%
5-yr: +20 bps to 1.75%
10-yr: +16 bps to 1.87%
30-yr: +13 bps to 2.23%

Comments:
The weird week continues as Wednesday again saw some heavy volume but this time with bulls in the market. All the sectors were positive with Financials leading the way.

Powell said the central bank would “proceed carefully” because of the geopolitical uncertainty and that he would support hiking rates by 25 basis points later this month, although a 50-bps hike is still possible in the future. So this will now be factored into the market.

Our recent positions moved into profit as no new positions were entered into yesterday, as we now approach NFP.

Let’s go enjoy the prekend!