A sharp reversal defined stocks on Thursday, with the major averages giving up sharp gains from early in the day as rates jumped.
 | THU, APR 21, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 166.42 | -0.81 | -0.48% | | VZ | 55.01 | +0.60 | +1.10% | | MSFT | 280.81 | -5.55 | -1.94% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 166.42 | -0.81 | -0.48% | | AAL | 20.22 | +0.74 | +3.80% | | T | 20.21 | +0.78 | +4.01% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 166.42 | -0.81 | -0.48% | | AMD | 89.85 | -4.17 | -4.44% | | NVDA | 201.83 | -12.99 | -6.05% | |
| |
|
A reversal defined stocks on Thursday, with the major averages giving up sharp gains from early in the day as rates jumped. Stocks started the session going higher. At its high, the Dow Jones Industrial Average was up 331.43 points, or 0.9%. The S&P 500 and Nasdaq Composite were each up more than 1% at their highs of the day. By market close, all three of the big U.S. stock benchmarks were down at least 1%. That swing came as Treasury yields jumped, with the key 10-year rate trading near a December 2018 high, while Federal Reserve Chairman Jerome Powell signaled that a 50 basis point rate hike could come next month. |
"It is appropriate in my view to be moving a little more quickly. And I also think there's something in the idea of front end loading whatever accommodation one thinks is appropriate," Powell said during a panel at the International Monetary Fund. "I would say that 50 basis points will be on the table for the May meeting." "It may be that the actual peak was in March, but we don't know that and so we're not going to count on it," Powell said. "We're really going to be raising rates and getting expeditiously to levels that are more neutral, that are actually tightening policy, if that turns out to be appropriate once we get there." Those comments, along with the move in rates, overshadowed seemingly strong quarterly reports. Tesla, United Airlines and American Airlines all rose on the back of better-than-expected results. |
|
|
|
Tidak ada komentar:
Posting Komentar