Friends
Market participants are dealing with a double dose of uncertainties at the moment as we get hour by hour reports of Russian movements at the Ukraine border, and constant Fed Speak from Fed officials about the course of the Fed’s upcoming tightening process. It’s quite a minefield for investors to deal with at the moment- inflation, global unrest, the Fed, consumer confidence. It’s not surprising that market volatility continues.
As for today, by the close the Dow Jones Industrial Average was down 171 points to finish the day at 34,566. The S&P 500 was down 16 points to close at 4,401. The Nasdaq Composite Index was down a fraction to close at 13,790. Gold was up $32 to trade at $1,874 per ounce, while oil was up $1.86 to trade at $94.96 per barrel WTI.
On the economic front we will get a look at Producer Prices and Retail Sales this week. Investors will be watching to see if/when inflation starts to back off a little and whether the economy is being affected by higher prices. In the meantime, I guess we will know soon if Russia is going to invade Ukraine. Stay tuned.
Have a nice evening everyone.
