Weekly Markets Wrap - Allbirds Positive, Netflix Misses, Fed News Encourages, Oil Continues Up

Here's your weekly wrap for the stock and commodities market - I'll give you a quick snap-shot of the major economic, stock and commodities news that should be on your radar. Let's get started!

Netflix (NASDAQ: NFLX)

Netflix shares fell below a critical support level. The stock of Netflix has fallen below its 200-day moving average line. In 2021, the stock underperformed the S&P 500. It faces mounting concerns that it may fail its fourth-quarter membership growth forecasts.

Allbirds (NASDAQ: Bird)

Allbirds is a new firm, having launched its initial public offering (IPO) in early November of last year. Allbirds is rapidly expanding.Sales in the third quarter of 2021 surged 33% .Morgan Stanley set a price estimate of $17 per share.


FeD Meeting

During the week, the S&P 500 was hit 1.9 percent sparked by Fed meeting minutes that suggested the central bank is poised to hike rates sooner and higher than previously predicted.  Overall, the index finished down 2.12%.


Gold edged higher on Friday, hovering near a two-week low touched the day before after the World Health Organization's (WHO) chief stated that the Omicron form cannot be classified as 'mild,' but higher yields capped bullion's gains.

Crude oil

After reaching their highest level since late November. The price of West Texas Intermediate (WTI) crude in the United States increased by $1.61, or 2.1%, to $79.46. The contract reached an all-time high of $80.24 during the session.

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