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By Staff Reporters
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- Markets: Stocks are off to a sputtering start in 2022, and they could be in for more upheaval this week with a big inflation report due, Fed Chair Jerome Powell’s confirmation hearing on Capitol Hill, and the beginning of earnings season.
- NASDAQ: Last week, the tech-heavy NASDAQ fell 4.5% for its worst week since February 2021. And the ARK Innovation ETF, which is full of high-growth tech companies, plunged 11%.
- Bonds: Over in the bond market, yields (or the return you can get from buying a bond) are surging. On Friday, the yield for the 10-year Treasury note hit its highest level since January 2020. Now, While rising yields are generally a bullish sign for the economy, they also make riskier assets—like expensive tech stocks—less attractive compared to other names that may get a boost from higher interest rates. The Dow, for example, with its many financial services companies, lost just 0.29% last week.
- CITE: https://www.r2library.com/Resource/Title/082610254
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Good News: Billionaire investor Chamath Palihapitiya said US stocks could rebound rapidly after the recent sell-off. He said there’s “a ton” of money waiting on the sidelines in products such as money market accounts.
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Filed under: Alerts Sign-Up, Funding Basics, Glossary Terms, iMBA, Inc., Investing | Tagged: ARK, bond market, bonds, DJIA, ETF, NASDAQ, stock market, stocks, Tresury notes | 1 Comment »
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