Plus 5 New Strong Buys for Today Stocks Ended Lower On Friday And For The Week On Fears Russia Could Invade Ukraine "At Any Time"
[Kevin Matras - EVP - Photo]
Profit from the Pros By Kevin Matras
Executive Vice President Stocks Ended Lower On Friday And For The Week On Fears Russia Could Invade Ukraine "At Any Time" [Stocks Ended Lower On Friday And For The Week On Fears Russia Could Invade Ukraine ]Image: Bigstock Stocks closed lower on Friday and for the week. The markets were up at the beginning of the session, and then traded back and forth within a relatively narrow range. But then reports that Russia could invade Ukraine "at any time," sent stocks sharply lower. Underscoring the possible imminence of such an invasion, U.S. National Security Advisor, Jake Sullivan, said "it could begin during the Olympics." He was quick to point out that he could not confirm whether a "decision has been taken" by President Putin on whether to invade or not. But with new Russian troops and additional military assets arriving at the Ukrainian border, the situation appears to only be escalating. Traders were already weary about inflation, and the possibility of a more aggressive tightening pace by the Fed. So the threat of war, and what that could mean for the rest of the world was enough for many to trim their stocks and buy treasuries ahead of the weekend. Adding to the weaker tone on Friday was the Consumer Sentiment report which came in at 61.7 vs. last month's 67.2 and views for 67.5. The reading was the weakest in more than a decade as rising inflation has weighed on consumers'outlook. While inflation, higher interest rates, and the threat of war are the negatives for stocks right now, the positives include the strength of the economy and the labor market, record corporate profits, falling Omicron case counts, and the lifting of Covid restrictions. It looks like volatility is here to stay for a while. But with a robust growth outlook, it looks like there's a lot more upside to go for the market. So be sure to use this time wisely by picking up more of your favorite stocks, albeit at cheaper prices, and getting into new ones at prices you only wished you could have gotten in at before. See you tomorrow, [Kevin Matras - Signature] Kevin Matras
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