Stocks Tumble As Yields Soar; Apple, Builders FirstSource, CF Industries Holding Key Levels | Summary and Q&A

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January 18, 2022
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Investor's Business Daily
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Stocks Tumble As Yields Soar; Apple, Builders FirstSource, CF Industries Holding Key Levels

TL;DR

The stock market had a rough day with major indexes down, sectors in decline, and a rise in treasury yields affecting growth stocks.

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Questions & Answers

Q: What were the major stock indexes' performance in today's session?

The Nasdaq was down 2.6%, the Dow was down 1.5%, the S&P 500 was down 1.8%, and the Russell 2000 was down 2.8%.

Q: Were there any sectors that saw money flowing in during this market decline?

Cash was the only sector that saw significant inflows. Other sectors, like financials and utilities, also experienced declines.

Q: Why are treasury yields a significant factor in market performance?

Rising treasury yields affect growth stocks as they make future growth prospects less attractive. High PE (price-to-earnings ratio) stocks are particularly affected.

Q: How did Apple perform in today's market?

Apple closed down about 1.9% and is currently at its 10-week line. While it has held up better than other tech stocks, caution is advised due to the overall market conditions.

Q: What is the current state of Builders First Source (BLDR)?

BLDR, a standout stock in 2021, is now below its 10-week line and facing a key test. Although it has performed well, it is advisable to be cautious given the market situation.

Summary & Key Takeaways

  • Major indexes, including the Nasdaq, Dow, S&P 500, and Russell 2000, experienced significant declines.

  • The market showed weakness across sectors, with even strong performers like financials and utilities falling.

  • Energy stocks saw a reversal despite energy prices reaching multi-year highs.

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