Weekly Market Recap. March 19-23, 2018
Is this the bubble? Here is this week U.S. stock market movers recap.
Monday tech sector stocks pressured on Facebook (FB) and Alphabet Class A (GOOGL), data breached that leads to deeper scrutiny. Dow Jones closing down -335.60 points, SPY -1.35%, QQQ -2.13%, IWM -0.96% and IBB --2.00%.
Tuesday tech sector continued to see the dropped with most notable are from social media stocks: Twitter (TWTR) and Facebook Inc (FB). Market rallies ahead of Fed FOMC meeting with Dow closed +116.36 points, SPY +0.17%, QQQ +0.33%, IWM -0.03%, IBB +0.05%
Wednesday Fed chair Jerome Powell first announcement on rate. Fed boost benchmark interest rate by 25 basis points, see three more hike in 2018. Stock market retreat from Dow up 200 points to close -44.96 points, SPY -0.19%, IWM +0.58%, QQQ -0.44% and IBB +0.12%.
Thursday Trump announce $50 Billion in China Tariffs. Economic data with Initial Claims 229k vs 225k, continuing 1.83m vs 1.87m. Dow Jone -722.14 points, SPY -2.48%, QQQ -2.47%, IWM -2.15% and IBB -2.30%
Friday with trade wars on investor mind, the U.S. stock market continued to take second day big hit. Dow close -424.69 points, a combined two days plunges of 1,146.83 points. SPY -2.14%, IWM -2.13%, QQQ -2.67% and IBB -2.63%.
- Heron Therapeutics Inc (HRTX) HTX-011 achieved all primary, key secondary endpoints in trial
- Cidra Therapeutics Inc (CDTX) P2 STRIVE trial of rezafungin meets primary objectives
- Facebook (FB) reports of data misuse. Stock dropped -6.77% to closing at 172.56
- Alphabet Class A (GOOGL) dropped -34.35 points or -3.03%.
- Facebook (FB_ to investigated by FTC for use of personal data, -Bloomberg. Stock down -2.56%
- Arena Pharmaceuticals Inc (ARNA) After hours closed on Monday, announced Phase 2 trial UC met endpoints. Stock up+28.68%
- ROKU Inc (ROKU:NASDAQ)- Roku app to be available on Samsung smart TVs. Stock up +2.60%
- Twitter Inc (TWTR:NYSE) TWTR Israel Justice Minister weighing whether to take legal action against the site. Stock down -10.38% to $31.35 closed
- Prothena Corporation PLC (PRTA), Celgene Corp (CELG) collaboration deal
- Achaogen Inc (AKAO) advisory Committee meeting set for May 2, 2018
- MuleSoft Inc (MULE) and Salesforce.com Inc (CRM)Buys MuleSoft for $6.5 Billion in Expansion
- Guess? inc (GES) earning report, link https://www.tradersfish.com/Earning/guess-inc
- Omeros Corp (OMER) favorable Medicare policy in Congressional Spending Bill. Stock up +35.31%
- Boeing Co (BA) -5.19% negative reaction to tariff
- Wynn Resorts Ltd (WYNN) Steve Wynn sell entire stake in company
- Amazon.com Inc (AMZN) -3.19% or -49.36 points,
- Alphabet Class A (GOOGL) -2.53% or -26.60 points
Thanks for reading our recap. Happy weekend, everyone.