Market Rollercoaster Continues In Wake Of Powell’s Comments

Market Rollercoaster Continues In Wake Of Powell’s Comments

If you ever wondered what it was like to be a yo-yo, this market is giving you the opportunity. Market volatility is such that the stocks that you hated yesterday, you may find that you love today. U. S. stocks up strongly this morning, reversing the move of yesterday's selloff. Both Dow and Nasdaq NDAQ futures gained over 1% leading into the market open, and futures on the Russell 2000 Index, which has been particularly hard-hit of late, rose nearly 2%. Accordingly, parts of the market that were struggling in yesterday's action are mostly rebounding this morning. This market volatility comes as the result of two main factors: concerns over the course of the Covid-19 omicron variant and a possible accelerated timeline for Fed tapering. Energy stocks are mostly higher this morning, following the price of crude oil, which is now above $69 per barrel. Additionally, major "reopening" stocks, such as Expedia (EXPE), Carnival (CCL), and Hilton Worldwide (HLT) are all up strongly. The yield on the 10-year Treasury note also has regained some ground, and is up near the 1. 5% level, although this is still well-below last week's yields of 1. 69%. Something to look for will be