Market Digest: NDAQ, FE, KEY, NUE, UNP, VZ, DOW

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Summary

The stock market opens Monday looking for a fresh start after last week’s bruising. There are plenty of big earnings and economic reports coming to digest this week. On the docket are the big tech behemoths including Amazon (AMZN), Apple (AAPL), Alphabet (GOOG), Microsoft (MSFT), and Meta Platforms (META). Plenty of other giants report this week including Coca-Cola (KO), Chipotle (CMG), General Electric (GE), General Motors (GM), Boeing (BA), Exxon Mobil (XOM, Chevron (CVX), and Bristol Myers Squibb (BMY) among many others. The range of companies will give more data points on how different sectors are weathering the many external factors out there including – inflation, rising interest rates, and the continued war in Ukraine including economic sanctions on Russia. Last week, the Dow Jones Industrial average was down 640 points or 1.9%, the S&P 500 fell 2.8%, and the Nasdaq Composite was hit the hardest, losing 3.8%. Year-to-date, the Dow is down 7%, the S&P 500 is now in correction territory, off 10.4%, and the Nasdaq digs deeper into correction territory, down 17.9%. On Friday, the Dow suffered its worst one-day point loss since October 2020, shedding 981 points or 2.8%, the S&P 500 lost 2.8%, and the Nasdaq fell 2.6%. It was a rough week.

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