March 16, 2022

March 16, 2022

Stocks rallied in a wild session after the Federal Reserve raised rates and said it would hike another six times this year.

 

Dow Jones finished +519  at 34,063

S&P 500 finished +95 at 4,357

NASDAQ finished +488 at 13,436

 

The 10 Year Treasury closed up 2 basis points yielding 2.18%

Oil prices closed down $1.29 ending at $95.15 a barrel.

Gold prices closed down $2.00 ending at $1,927 an ounce.

 

In the days’ stock news:

 

  • Nvidia closed up more than 6% after analysts at Wells Fargo added Nvidia to their “signature picks” list, saying the stock’s recent tumble has created an attractive risk/reward profile. Wells Fargo also expects upbeat announcements at Nvidia’s upcoming investor day.
  • Lockheed Martin closed down 6% after Bloomberg News reported that the Pentagon would cut its request for F-35 fighter jets in the new fiscal budget proposal.

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