April 1, 2022

April 1, 2022

Stocks closed higher today as investors assessed a new quarter of trading and a troublesome bond market recession indicator.

 

Dow Jones finished +140 at 34,818

S&P 500 finished +15 at 4,545

NASDAQ finished +41 at 14,261

 

The 10 Year Treasury closed up 5 basis points yielding 2.38%

Oil prices closed down $0.73 ending at $99.55 a barrel.

Gold prices closed down $26.90 ending at $1,927 an ounce.

 

In the days’ stock news:

 

  • GameStop closed up 1% after the company said it will seek stockholder approval at its next shareholder meeting to implement a stock split. The company is proposing an increase to 1 billion shares from 300 million.
  • Dell closed down more than 2% after Goldman Sachs downgraded the computer builder to neutral from buy amid mounting pressure on the PC market. Dell “remains inexpensive compared to its peers, but we see increasing fundamental headwinds hindering this value unlock,” the firm said.

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