March 15, 2022

March 15, 2022

Stocks closed up today as oil prices continued to drop further below $100 and a reading of wholesale inflation came in lighter than expected.

 

Dow Jones finished +599 at 33,544

S&P 500 finished +89 at 4,262

NASDAQ finished +367 at 12,948

 

The 10 Year Treasury closed up 2 basis points yielding 2.16%

Oil prices closed down $7.64 ending at $95.37 a barrel.

Gold prices closed down $42.60 ending at $1,918 an ounce.

 

In the days’ stock news:

 

  • Peloton closed up 12% after Bernstein initiated coverage of the stock with an “outperform” rating. The analyst mentioned Peloton’s healthy underlying business, new management and recent stock price plunge. Her $40 price target implies the stock could nearly double over the next year.
  • Starbucks closed up more than 4% after it announced a partnership with Volvo Cars to research the usage and potential scalability of electric vehicle chargers at Starbucks stores nationwide. Meanwhile, Starbucks also unveiled the latest steps it’s taking to reduce its disposable cup use.

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