April 11, 2022

April 11, 2022

U.S. stocks dropped today as investors looked ahead to the start of corporate earnings season this week and as the Federal Reserve prepares to accelerate its moves to counter inflation.

 

Dow Jones finished -413 at 34,308

S&P 500 finished -76 at 4,412

NASDAQ finished -299 at 13,411

 

The 10 Year Treasury closed up 6 basis points yielding 2.77%

Oil prices closed down $3.37 ending at $94.89 a barrel.

Gold prices closed up $12.00 ending at $1,958 an ounce.

 

In the days’ stock news:

 

  • JetBlue closed up 1.1% after the company said it’s cutting back its summer schedule in an effort to avoid flight disruptions, as it works to ramp up hiring this summer to meet a surge in travel demand.
  • Coinbase closed down 4.4% as the price of bitcoin dropped to its lowest level since March amid a broader sell-off in risk assets. Coinbase’s stock price is tied closely to the price of bitcoin since so much of its revenue being derived from trading fees.

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