Afternoon Note
By Karina Hernandez, Senior Research Analyst
3/31/2022 1:47 PM
Indices edged lower again as investors wait-and-see and look for direction while digesting the latest economic news. So far on Thursday, the S&P hasn’t moved a full 100 points in either direction.
Oil prices sink again after news that the President is deliberating a plan to release around 180 million barrels of oil from the Strategic Petroleum Reserve.
Utilities continue to rally and are hitting a new intraday high today (75.13), we mentioned yesterday the strength seen in this sector in the last 6 days.
|
S&P 500 Index |
|
-0.39% |
|
Communication Services XLC |
|
-1.04% |
|
Consumer Discretionary XLY |
|
-0.68% |
|
Consumer Staples XLP |
+0.22% |
|
|
Energy XLE |
+0.40% |
|
|
Financials XLF |
|
-0.76% |
|
Health Care XLV |
+0.22% |
|
|
Industrials XLI |
|
-0.33% |
|
Materials XLB |
|
-0.09% |
|
Real Estate XLRE |
+0.41% |
|
|
Technology XLK |
|
-0.51% |
|
Utilities XLU |
+0.64% |
|
Economic News
The Chicago PMI report saw a nice rebound to 62.9 from 57, which was its lowest level in 18 months. Prices paid and new orders are still expanding but rose at a slower pace. Inventories, supplier deliveries, and production rose at a faster pace. On the other hand, employment is contracting.
All eyes tomorrow on the jobs report.
| Comments |
| Yesterday, everyone was clamoring that the Fed was behind the curve - hopelessly behind the curve and could never hope to control inflation. Now, today, a day later the worry is that the Fed is going to derail the economy by raising rates into a slowing economy. Need to make up our minds!!! Which way do we want it??? Dick Denecker on 4/5/2022 5:10:42 PM |
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| 4/18/2024 1:37 PM | Didn’t Break Down |
| 4/18/2024 9:40 AM | MARKET OFF SCRIPT |
| 4/17/2024 1:59 PM | Facing Pressure |
| 4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
| 4/16/2024 1:35 PM | Muted |
| 4/16/2024 9:42 AM | FEAR ARRIVES |
| 4/15/2024 1:17 PM | Making a Statement |
| 4/15/2024 9:45 AM | Equal Opportunity Drubbing |
| 4/12/2024 1:37 PM | Pressure Overall |
| 4/12/2024 9:42 AM | WHO YA GONNA CALL? |
| 4/11/2024 1:38 PM | No Urgency |
| 4/11/2024 9:27 AM | Tough Sledding |
| 4/10/2024 1:22 PM | Hang In There |
| 4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
| 4/9/2024 1:56 PM | Fighting the Trend |
| 4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
| 4/8/2024 9:45 PM | Cautious Feel |
| 4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
| 4/5/2024 1:51 PM | Higher and Cheaper |
| 4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
| 4/4/2024 1:42 PM | Stocks Bounce |
| 4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
| 4/3/2024 1:41 PM | Cuts Not Soon |
| 4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
| 4/2/2024 1:16 PM | Under Pressure |
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