Market Recap – February 22nd
The markets returned to their choppy nature, trading gains and losses throughout the day. The Fed minutes had a major role in swaying investor sentiment on Wednesday, leaving a sense of confusion regarding how the central bank would go ahead and implement these changes. The closing bell rang with the S&P 500 down 0.16%, the Dow Jones down 0.26%, and the NASDAQ up 0.13%.
For the first time in the past week, tech outperformed with the NASDAQ being the only index positive on the day. Although not a tech stock, Wingstop rose by 7.70% to $179.00 following amazing sales growth in part to their new chicken sandwiches, a worthwhile investment on their end. On the energy side, Transocean fell by 10.82% to $6.10 after reporting a major loss per share and lagging revenue estimates as investors are still seeking the value in the stock.
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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.