Market Recap – March 9th
Yesterday investors drove new positions into war-torn and beaten-down equities across the market. Indeed, all three indexes were up during mid-day trading. The S&P was up 2.66%, the NASDAQ 3.51%, and the DOW up 2.12%. The reasons for this are hard to pinpoint but the moves likely come as investors felt prices had dropped disproportionately and significantly enough (despite the ongoing war) to invest again. Of course, a singular day move in the opposing trend of the last few weeks doesn’t dictate a change in direction, rather, a reminder that markets are often seemingly random in their timing to pop up or down in either direction. Currently, we are watching two specific stocks: Amazon and Netflix. Both stocks saw mid-day movement yesterday with a 2% spike and Barclays kept their overweight rating on the firm due to increasing higher-margin business units like AWS. Moreover, shares of Netflix rallied 5.7% due to an upgrade to overweight from Wedbush.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.