Global Market Trend As Of May 16th, 2022

U.S. Markets rebounded to close the week as investors put inflationary reports and recession concerns aside.  

The Dow Jones Industrial Average rose over 400 points, or 1.5%. The S&P 500 and the Nasdaq Composite gained 2.4% and 3.8%, respectively. Technology stocks, including Nvidia, Apple, Microsoft and Micron helped pace the gains. 

Despite the rally, all three of the major averages posted weekly declines, extending the market’s slump so far this year.

Treasury Bills Market, the 10-Year Yield settled at 2.93%.

Jerome Powell, Federal Reserve Chair got the Senate confirmation for a second four-year term Thursday, acknowledged that high inflation and weakness in other economies could thwart his efforts to avoid a recession.

Inflation, prices of imported goods were unchanged month-over-month, down from March’s 2.6% surge, the biggest increase in 11 years. Export prices rose 0.6% in April, also down from a record 4.5% spike the previous month. Smaller gains in import and export prices would support the view that inflation has peaked.


Commodities, for the week, oil settled at $110.49 per barrel, Brent crude, the pricing basis for international trading of crude, at $111.55. 

Corporate actions, Twitter shares fell after Elon Musk said in a tweet that his Twitter acquisition was temporarily on hold. 

Occidental shares rose after Warren Buffett's Berkshire Hathaway added another $52 million worth of stock. The firm remains the oil company's largest shareholder. 

SPOT MARKET  BY THE HOUR AS OF GMT 9:40  05-16-22