05Apr2022 Market Close & Major Financial Headlines: Wall Street Slips Into The Red, DOW Closes Down 280 Points, NASDAQ Closes Down Sharply 2.3%, S&P 500 Down 1.3%, WTI Crude Settles At 100.48, Gold Slips To 1924, Bitcoin At 4 EST 46000
The U.S. markets closed down on light red volume, while Bitcoin briefly hit $47K. Dogecoin is also higher at $0.1653. Unfortunately, Brainard’s comments seemed to negatively influence the market’s final hour after he said the balance sheet reduction occurring soon and ‘at a rapid pace.’
Today, the DOW’s losses were to losses from Boeing and Salesforce, Inc. In addition, the NASDAQ fell more than 2.3%, leading to stock-market losses as investors continue to observe the Ukraine/Russian fiasco plus weigh the Fed’s policy path. However, low red volume today suggests a wait-and-see posture on what the Fed will say on Wednesday.
Jamie Dimon warns of ‘volatile markets’ as the Fed shifts policy. JP Morgan chief’s annual shareholder letter predicts ‘inflation will eventually start to recede.’ JP Morgan (JPM) CEO Jamie Dimon also flagged the “strength of the U.S. economy” in his annual letter to shareholders on Monday, citing “plentiful jobs with wage increases and more than $2T in excess savings.” The consumer is in “excellent financial shape (on average),” he added, while leverage is “among the lowest on record.”
A summary of headlines we are reading today:
- U.S. Gas Production Set To Fall On Lack Of Pipelines
- Developers Are Flooding Arizona With Homes Even As Historic Western Drought Intensifies
- Gm And Honda To Develop Affordable Electric Vehicles That Cost Less Than $30,000
- Brainard Batters Bonds, Stocks, Bullion, & Bitcoin With ‘Fast & Furious’ QT Threat
- Bond Investors See The Prospect Of A More Deeply Inverted Yield Curve Ahead
These and other headlines and news summaries moving the markets today are included below.