“This is a confused market, confused about Ukraine, confused about how aggressive the Fed is going to be, and pretty much ignoring very strong earnings results from the fourth quarter,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. The indices logged weekly declines for the second straight week, buffeted by rising tensions between Moscow and the West over Ukraine. For the week, the S&P 500 fell 1.6 percent, the Dow lost 1.9 percent and the NASDAQ declined 1.8 percent. About 78 percent of the 417 S&P 500 companies have in this reporting season posted quarterly earnings above analyst estimates as per Refinitiv data. The S&P 500 posted eight new 52-week highs and 28 new lows; the NASDAQ Composite recorded 19 new highs and 395 new lows.

Source: Taipei Times February 20, 2022 02:35 UTC