STOCK MARKET NEWS
05.18.2022
1- We had a monster rally yesterday helping our weekly gains finally be in the green after a terrible 6 red weeks in a row.
Today however premarket is lower as the
volatility continues.
2- The Dow mainly was down due to target
dropping about 20% from a big earnings miss due to inflation.
3- Yesterday Powell stated at his conference that the fed won’t hesitate to keeping hiking interest rates until inflation comes down.
4- This of course rose the 10 year yield as it
started hovering around 3% once more.
5- Jamie Dimon CEO of chases $52.6 million bonus was disapproved.
6- Along with target, lowes and Home Depot dropped premarket putting more pressure on the retail industry.
7- Walmart dropped the biggest one day loss Since 1987 yesterday so Walmart will
continue to be on watch.
8- There’s not much else news that’s happening today it’s pretty calm. We need to watch the 4K level on the S&P 500 and 12k on the Nasdaq to see if they both hold because if they break then more downside may be coming.