Market Recap for 22nd Mar 2016 – Markets surprisingly shake off bloody terror attacks in Brussels

By Markus Heitkoetter

By now you’ve probably heard the news. Another horrible terrorist attack killed at least 30 people and injured hundreds in Brussels.

At first the attacks rattled the markets. U.S. stocks opened lower and there was a lot of uncertainty in the air.

But midday things began to turn around.

Crude Oil emerged from negative territory and the major indices worked their way higher. An afternoon rally put the major indices in positive territory for the first time of the day, but then retreated before the close.

Although the major indices finished the session mixed, there was a strong sense of resiliency considering the terrorist attacks.

Here’s where the major indices ended the day:

The S&P finished with a 0.1% loss. Down 2 points, the S&P ended at 2,050.

The DOW ended 0.2% lower. Losing 41 points, the DOW closed at 17,583.

The NASDAQ increased by 0.3%. With a 13 point gain, the NASDAQ finished at 4,822.

The win streaks in the DOW and S&P have come to an end. The DOW streak ends at 7 days and the S&P ends at 4 days. But the NASDAQ showed strength today and extended its win streak to 5 consecutive trading sessions.

Crude Oil (CL) traded lower following news of today’s attacks, then worked its way back into positive territory during the session. But in the end CL settled with a 0.2% loss at $41.45 a barrel.

Tomorrow the economic calendar picks up with FOMC Member Bullard speaking at 9:00am ET, New Home Sales at 10:00am ET, and Crude Oil Inventories at 10:30am ET

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