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Home ANALYSIS

US stocks nervous as yields move higher, earnings ahead, CPI inflation tomorrow

A.R Chowdhury by A.R Chowdhury
April 11, 2022
Reading Time: 2 mins read
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The major US indices all closed lower as worries about higher rates, higher inflation, slower global growth, recession, you name it.

  • S&P and NASDAQ closed lower for the second consecutive day
  • S&P closed below its 200 hour moving average at 4420.58
  • NASDAQ gapped below its 200 hour moving average up at 13707 and closed near session lows and down over 2%
  • NASDAQ is down nearly 6% month to date
  • All 11 sectors of the S&P moved lower led by energy (-3.1%), technology (-2.6%), and healthcare (-2.0%)

The final numbers are showing:

  • Dow industrial average down -413.04 points or -1.19% at 34308.07
  • S&P index down -75.73 points or -1.69% at 4412.54
  • NASDAQ index down -299.03 points or -2.18% at 13411.97
  • Russell 2000 down -14.23 points or -0.71% at 1980.32

As mentioned, the S&P index fell below its 200 hour moving average for the first time since March 17. That moving average comes in at 4420.58. Stay below it is more negative.

S&P

S&P closes below its 100 hour moving average

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US 10 year yield

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A.R Chowdhury

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