The first quarter of 2022 was the worst first quarter since 2020 in the stock market. The DOW and S&P 500 closed down -4.57% and -4.95%, respectively, and the NASDAQ lost -9.10%. Some of the contributing factors to this rough quester were the start of a rate hiking cycle from the Federal Reserve, high inflation, and Russia's invasion of Ukraine.
The major indexes made a late-session rally to close out the week, with the DOW adding 139.92 points or +0.40% to close at 34,818.27. The S&P 500 rose +0.34% to 4,545.86, while the NASDAQ gained +0.29% to end the day at 14,261.50.
On a weekly level, only the NASDAQ and S&P 500 were able to stretch their weekly win streak to three with a gain of +0.65% and +0.06, while the DOW snapped its weekly winning streak with a loss of -0.12%.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 4,161.72
- Dow (INDEX:DJI): 32,818.16
- NASDAQ (NASDAQ:COMP): 12,555.35
- U.S. Dollar (ICE:DX): 97.72
- Gold (NYMEX:GC.J22): 1,917.00
- Crude Oil (NYMEX:CL.K22): 107.80
- Bitcoin (BITCOIN:BITSTAMPUSD): 37,567.51
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
