S&P 500 Index

-11.65 (-0.27%)
StockTwits Share  Twitter Share  Facebook Share

$SPX In the Know - End of Day Market Wrap - 4-26-2022

Date Published:


The major market indices fell sharply, with the NASDAQ Composite dropping the most. VIX rose over 19% and Crude Oil prices rose more than 3.7%.

Both the NASDAQ Composite and the Russell 2000 dropped to the lowest closing levels since December 2020.

SPX 4175.2 -120.91 (-2.81%)
NASD 12490.74 -514.11 (-3.95%)
DJIA 33239.45 -810.01 (-2.38%)
R2K 1892.93 -61.28 (-3.14%)
VIX 32.18 +5.16 (+19.10%)
Oil 102.2 +3.66 (+3.71%)


• The NYSE Advance Decline Ratio dropped to 16%, and for NASDAQ it dropped to the same level, nearing 15 year lows.

Alphabet (GOOG/L) missed both revenue and earnings estimates for its latest quarter and the stock is trading down about 4% in the after hours trade, at the time of publication.

Microsoft (MSFT) beat both revenue and EPS estimates, and in a volatile after hours session, is trading nearly unchanged.

• One time COVID darling Robinhood (HOOD) announced that it is cutting about 9% of full-time employees.

Headlines of the Day
Alphabet Earnings Disappoint. The Stock Is Dropping.
Google’s parent company reported net income of $16.4 billion, or $24.62 per share. Analysts polled by FactSet had forecast earnings of $25.75. Revenues of $68.01 billion were in line with expectations.

Microsoft earnings beat across the board
Here’s how the company did:

Earnings: $2.22 per share, adjusted, vs. $2.19 as expected by analysts, according to Refinitiv.
Revenue: $49.36 billion, vs. $49.05 billion as expected by analysts, according to Refinitiv."

The University of Michigan consumer sentiment for the US unexpectedly jumped
The University of Michigan consumer sentiment for the US unexpectedly jumped to 65.7 in April of 2022 from an eleven-year low of 59.4 in March, preliminary estimates showed. Figures also beat market forecasts of 59, with the expectations index surging by 18% to 64.1.

Americans are spending nearly a third of their income on mortgages — the largest share since 2007
"The average household now spends 31% of its income on mortgage payments, according to Black Knight. That's up from 24% in December and the highest share since 2007."

Shanghai installs metal barriers to seal off streets, residential buildings to contain COVID outbreak
Authorities in Shanghai have installed metal barriers around the city to seal off streets and entrances to residential buildings to try to contain an outbreak of COVID-19.

The barriers, primarily made from mesh fences or thin sheets of metal, were put up to block small streets and entrances to apartment complexes where coronavirus-positive cases were reported, according to Caixin, a Chinese business media outlet."

Economic Data Results for 4-26-2022
United States Durable Goods Orders
New orders for US manufactured durable goods increased 0.8 percent month-over-month in March of 2022, recovering from a downwardly revised 1.7 percent drop in the previous month but below market expectations of a 1 percent gain.

United States House Price Index YoY
The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States increased a19.4 percent from a year earlier in February 2022, following a revised 18.3 percent gain in January. The 19.4% increase equals the largest number ever hit, equal to the value in July 2021.

United States New Home Sales
New home sales in the United States dropped 8.6% from a month earlier to a seasonally adjusted annual rate of 763,000 in March of 2022, following a revised 1.2% drop in the previous month and below market expectations of 765,000.

United States New Home Sales (month-over-month)
New Home Sales in the United States decreased 8.6 percent month-over-month in March of 2022, following a revised 1.2 percent drop in the previous period. It was the third consecutive monthly decline.

Economic Data Due Tomorrow on 4-27-2022
Pending Home Sales MoM MAR

Pending Home Sales YoY MAR

Retail Inventories Ex Autos MoM Adv MAR

Wholesale Inventories MoM Adv MAR

Get the "In the Know - End of Day Market Wrap"



The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Capital Market Laboratories (“The Company”) does not engage in rendering any legal or professional services by placing these general informational materials on this website.

The Company specifically disclaims any liability, whether based in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if we have been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses.

The Company makes no representations or warranties about the accuracy or completeness of the information contained on this website. Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated.