Analyst ViewsU.S. stocks ended the first day of the trading week sharply lower ahead of Tuesday's inflation report on consumer prices, which may be "extraordinarily elevated," according to the White House. The Nasdaq Composite led the drop falling over 2%, while the S&P 500 lost 1.7% and the Dow Jones Industrial Average 1.2% or 413 points.
| Ticker |
Security |
Last |
Change |
Change % |
| I:DJI |
DOW JONES AVERAGES |
34308.08 |
-413.04 |
-1.19% |
| SP500 |
S&P 500 |
4412.53 |
-75.75 |
-1.69% |
| I:COMP |
NASDAQ COMPOSITE INDEX |
13411.956 |
-299.04 |
-2.18% |
CPI Data, the CPI data, due Tuesday morning, is expected to show a sharp uptick from February, rising 8.4%, which would be a new series high. Analysts are predicting a U.S. recession by late next year.
Treasury Bill, the 10-year Treasury yield climbed to 2.779%, the seventh straight day of gains.
Corporate actions, Additionally, financials in focus ahead of earnings from JPMorgan Chase and BlackRock on Wednesday, with Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs out on Thursday.
| Ticker |
Security |
Last |
Change |
Change % |
| JPM |
JPMORGAN CHASE & CO. |
133.00 |
-0.49 |
-0.37% |
| BLK |
BLACKROCK INC. |
728.38 |
-7.72 |
-1.05% |
| C |
CITIGROUP INC. |
50.55 |
-0.33 |
-0.65% |
| WFC |
WELLS FARGO & CO. |
49.33 |
+0.60 |
+1.23% |
| GS |
THE GOLDMAN SACHS GROUP INC. |
320.76 |
-0.63 |
-0.20% |
Twitter shares rose after shareholder Elon Musk said he would not join the board, but on Monday, in a SEC filing, he indicated he will likely remain vocal and perhaps may purchase more stock.
| Ticker |
Security |
Last |
Change |
Change % |
| TWTR |
TWITTER INC. |
47.00 |
+0.76 |
+1.64% |
Shopify shares moved higher after announcing a 10-for-1 stock split, joining a growing list of tech companies doing the same, including Amazon, Google and likely Tesla.
| Ticker |
Security |
Last |
Change |
Change % |
| SHOP |
SHOPIFY INC. |
617.38 |
+14.20 |
+2.35% |
Market Deals, in deal news, Discovery Inc. began trading on the Nasdaq under a new name and ticker symbol following the completion of its merger with AT&T's WarnerMedia.
The new combined company, dubbed Warner Bros. Discovery, will offer a vast portfolio of content, brands and franchises across television, film and streaming, including Discovery Channel, Discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and others.
| Ticker |
Security |
Last |
Change |
Change % |
| WBD |
WARNER BROS. DISCOVERY INC. |
24.78 |
+0.35 |
+1.43% |
| T |
AT&T INC. |
19.63 |
-4.51 |
-18.68% |
Commodities, Oil prices have fallen back on expectations of weaker demand after peaking above $130 per barrel last month due to anxiety about disruption of supplies from Russia, the world's No. 2 exporter.
Oil prices fell back on expectations of weaker demand after peaking above $130 per barrel last month due to anxiety about the disruption of supplies from Russia, the world's No. 2 exporter. The national average for gas also continued to retreat, now around $4.11 per gallon. U.S. crude settled down over 4% at $94.29 per barrel, while Brent closed at $98.48.
| Ticker |
Security |
Last |
Change |
Change % |
| USO |
UNITED STATES OIL FUND L.P. |
72.30 |
-1.81 |
-2.44% |
| BNO |
UNITED STS BRENT OIL FD LP UNIT |
28.22 |
-0.99 |
-3.39% |
| UGA |
UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS |
53.52 |
-1.75 |
-3.17% |
SPOT MARKET BY THE HOUR AS OF GMT 10: 05 04-12-22
European Market, The investors' appetite is down currently and the markets are negative across the board. London's FTSE retreated by 0.36% to 7590.83, Germany's DAX also declined by 1.03% to 14,046.7 while France's CAC followed suit with a retreat of 0.76% to 6,505.67.
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
Contributions from Fox Business
