April 4, 2022

April 4, 2022

Stocks closed up today as traders shook off recession fears and bought technology shares that were beaten up in the first quarter.

 

Dow Jones finished +104 at 34,921

S&P 500 finished +37 at 4,582

NASDAQ finished +271 at 14,532

 

The 10 Year Treasury closed up 4 basis points yielding 2.41%

Oil prices closed up $4.34 ending at $103.61 a barrel.

Gold prices closed up $12.30 ending at $1,936 an ounce.

 

In the days’ stock news:

 

  • Tesla closed up 5.6% after Tesla reported first-quarter electric vehicle deliveries. The more than 310,000 vehicle deliveries marked a quarterly record, but slightly missed consensus Wall Street estimates. Most analysts attributed the miss to Covid shutdowns in Shanghai, where Tesla has a major factory.
  • Twitter closed up 27% after a filing revealed that Elon Musk has taken a 9.2% passive stake in the firm worth about $2.9 billion. The purchase came weeks after the Tesla CEO polled his 80-plus million Twitter followers about whether the platform adheres to free speech principles. Musk also recently hinted at starting his own site. The move is sparking speculation among analysts that Musk could take a more active ownership in Twitter or even consider a takeover down the road.

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