Daily Market Comments(20220107)-Turning

From Newsbuzzer
  • Tech stocks got hammered again, NASDAQ finished down almost 1% ended below 15000, while DJI almost unmoved.
  • China Shanghai Index pushed above 3600 but still ended slightly below it.
  • ARKK down 11% this week, NFLX down almost 10%.

Winners and Losers (in my watching list):GME+7.32%, PDD+7.23%, SPCE+5.69%; DWAC-10.44%, CLOV-5.67%, RBLX-5.41%.

Bond Market: 2Y to 0.866, -0.4BPs; 10Y to 1.764, +4BPs, and 30Y to 2.12, +4.1BPs. 30s2s to 1.254, +4.5BPs. TIPS recorded -0.768%.

Equity Market: NASDAQ closing at 14935.90, -0.96%; DJI 36231.66, -0.01%; S&P500 4677.03, -0.41%.

Econ Calendar: U.S unemployment rate dropped to 3.9%.

Big News: Putin sent flood of troops into Kazakhstan to crash the riots following a nearly 15 year same pattern.

Guess On Next Move: Earning season came, big techs get a reason to rebound.

What Big Names Saying:

Jim Bianco said bond market movement last week can be seen as a turning point of QE to QT, or easy money to loss of easy money.



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