engagement
Stock Market Today: Stocks Drop on Russia-Ukraine, Fed Uncertainty
Stocks were dragged lower for a second straight day after several U.S. officials issued warnings that Russia could attack Ukraine in the next several days.
Also, presentations by several members of the Federal Open Market Committee left investors wanting for more detail about the central bank’s impending tightening plans.
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Among them was New York Fed President John Williams, who, while speaking at a New Jersey City University event, said “it will be appropriate to raise the target rate” in March but didn’t specify by how much.
Also in focus today was data from the National Association of Realtors that showed existing-home sales climbed 6.7% month-over-month in January to a seasonally adjusted annual rate of 6.5 million units.
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This was the biggest sequential rise since July 2020, says Jennifer Lee, senior economist at BMO. And the gains were broad-based across both categories of homes and regions in the U.S. According to Lee, this is likely indicative of “the rush to get in before borrowing costs move higher. The Fed’s communication has been crystal clear on that front ⦠warning that higher rates are just around the corner.”
At the close, the Nasdaq Composite was down 1.2%% at 13,548, the S&P 500 Index was off 0.7% at 4,348 and the Dow Jones Industrial Average ended with a 0.7% loss at 34,079 â though all three indexes finished off their session lows.
As a reminder, the U.S. stock market will be closed Monday in observance of Presidents’ Day.
YCharts
Other news in the stock market today:
- The small-cap Russell 2000Â gave back 0.9% to end at $2,009.
- U.S. crude futures shed nearly 0.8% to settle at $81.07 per barrel.
- Gold futures slipped 0.1% to $1,899.80 an ounce.
- Bitcoin fell 2.2% to $40,032.78. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
- DraftKings (DKNG) plunged 21.6% after the sports betting company reported earnings. In its fourth quarter, DKNG reported a slimmer-than-expected adjusted loss of 35 cents per share on higher-than-anticipated revenue of $473 million. But the firm said it expects a fiscal 2022 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $825 million to $925 million, wider than what Wall Street is projecting. “DraftKings is facing intense pressure from newer entrants in the mobile sports betting space from established brands like Caesars and BetMGM,” says Jonathan Dube, executive in residence at investment bank Progress Partners. “Investors will be watching new state rollouts aggressively. The recent rollouts in New York and Louisiana have pushed off projected profitability from Q4 2022 to at least Q4 2023, according to the latest guidance, due to intense competition and high marketing costs.”
- Roku (ROKU) was another post-earnings loser, shedding 22.3% after the streaming giant’s fourth-quarter results. ROKU recorded adjusted earnings of 17 cents per share for the three-month period, higher than the 9 cents per share analysts were anticipating. However, fourth-quarter revenue of $865.3 million fell short of the $894 million expected by Wall Street and the company offered up current-quarter revenue guidance below analysts’ consensus forecast. “After its relatively lackluster fourth-quarter results, ROKU sees global supply-chain disruptions and inflationary pressures still weighing on its 2022 active account growth and video monetization in some ad categories,” says CFRA Research analyst Tuna Amobi, who maintained a Hold rating on the stock. “Still, we think ROKU remains relatively well-positioned for an accelerated secular shift to streaming from traditional TV, likely to bode well for longer-term audience engagement.”
What Corporate America is Really Talking About
While the stock market may be worried about a potential Russian invasion of Ukraine, S&P 500 companies don’t seem to be.
“During each corporate earnings season, it is not unusual for companies to comment on subjects that had an impact on their earnings and revenues in a given quarter, or may have an impact on earnings and revenues in future quarters,” says John Butters, senior earnings analyst at FactSet.
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But in a search of all S&P 500 firms that had earnings conference calls between Dec. 15 and Feb. 17, “Ukraine” was cited in just 4% of those calls. “By contrast, 72% of S&P 500 companies have cited ‘inflation’ on earnings calls over this same period,” Butters adds.
While companies often have options in combating higher inflation, so too do investors. One potential way to guard a portfolio against inflation risk is with defensive, dividend-paying plays such as healthcare stocks or real estate investment trusts (REITs).
Another is to consider consumer staples stocks, which tend to hold up during periods of higher prices. Read on as we look at some of the best consumer staples stocks for 2022, many of which offer investors some level of defense against rising prices.
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5 In-Demand Jobs in 2022
There are various in-demand jobs in 2022 as companies begin to fill empty roles. In 2021, several million Americans left their jobs voluntarily, also known as the "Great Resignation". These workers were burnt out, looking for better pay, or deciding to shift to a brand-new career. In fact, according to the Bureau of Labor Statistics, the quitting rate reached 2.9%, the highest since 2000. As a result, businesses and organizations are looking to hire hard-working individuals with impressive professional experiences and education. As a job seeker, you can find an available position in most industries, but especially in teaching, technology and health care. Here are the top in-demand jobs in 2022.
Customer marketing manager
A highly in-demand job opportunity in 2022 is as a customer marketing manager. These positions are being filled through various industries, such as computer software, information technology and internet software. Customer marketing managers work between the marketing and sales departments to drive customer interactions. In fact, they work with both teams to develop and carry out different marketing activities that drive customer engagement — for example, putting on an awards program or a special event for dedicated consumers. Depending on where you find an available position, you could earn anywhere from around $90,000 to $155,000 annually.
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Full stack software developer
Another job opportunity in demand this year is a full stack software developer. Full stack developers are needed for every industry, including e-Commerce, health care, machine manufacturing and real estate. If you want to work in this field, you’ll need to know how to work with the latest development tools, such as a Cargo and Docker registry by JFrog. Using a Cargo registry, you can enable full control of your deployment and dependency resolution process. This way, you can benefit from a universal, enterprise-ready, and cloud-native solution. The salary range for this position varies greatly, but the median salary can be expected to be around $75,000.
Information security analyst
Information security analysts are also an in-demand position for hiring companies. They are in high demand through various industries since businesses are increasingly focused on data privacy and company security. Responsibilities include designing and integrating efficient IT security systems and services to protect organizations. Additionally, information security analysts likely have to monitor complex computer networks to find any flaws, vulnerabilities or potential risks. As a result, those who work in this position should understand vulnerability solutions such as penetration testing, patch management and IDPS concepts. Information security analysts earn anywhere from about $78,000 to $133,000 a year.
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Market research analyst
Of course, with companies hoping to expand their visability and revenue, online marketing research analysts are in high demand. These analysts are integrated within entrepreneur operations, start-ups and industries looking to create the next big thing. Responsibilities include market condition research and determining a product's chances of success. In fact, market research analysts need to know how to display data as charts and graphs to portray the market information that was found. For example, collecting product data such as who would buy a specific product and for how much would be a common topic for a presentation in this position. Find, apply and be hired as an analyst to earn a median salary of about $65,0000 a year.
Product manager
Finally, product managers are highly sought after, especially as the economy recuperates from COVID-19. According to ADP, following the first wave of the pandemic, jobs such as admin support and company management positions have increased. In fact, the demand for these positions will continue to grow. Responsibilities as a product manager include developing certain business products —for example, creating and programming business' websites and applications. More so, this role manages a development team. Product managers collaborate with the development team to test software functionalities and follow through on the launch process. If hired as a product manager, you can earn a median salary of about $88,000 a year.
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There are hundreds of in demand jobs for 2022 as hiring trends shift upwards. Customer marketing managers are highly sought after in computer software, information technology, and digital industries for an annual average of about $122,000. Full stack software developers are required throughout all industries to create reliable and useable programs for an average of $75,000 a year. More so, information security analysts, who earn an average of $105,000 annually, are in high demand throughout various industries since they provide data protection and business privacy. Additionally, market research analysts are being vetted to assist in successful product market releases for around $65,000 annually. Finally, product managers are highly sought after to maintain website or app development processes and teams for around $88,000 a year.
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Finances and Engagement: The MONEY Talk
Congratulations on your engagement! You and your significant other are perfect for each other, and you want to spend the rest of your lives together. But did you have the talk? Youâre probably thinking, âWhat talk?â Letâs talk about MONEY….
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