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Nov. 23, 2021, 9:44 a.m. EST

Stick to these stock themes in what could be a volatile 2022, says Charles Schwab’s top strategist

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By Barbara Kollmeyer

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He also highlighs another chart from Bilello, showing that even some of those Nasdaq “soldiers” — growth/tech/IPO/SPAC favorite — taking it on the chin:

As some on Twitter responded to that chart, maybe the market correction has already happened and everyone should stop looking for it to happen in the major indexes.

The buzz

The White House announced it will release 50 million barrels of oil from its strategic oil reserves (SPR) as expected, and oil prices /zigman2/quotes/209723049/delayed CL00 +0.83% are continuing to fall. The market is now waiting to see if OPEC and its allies rethink their own plans to boost production. Oil /zigman2/quotes/209723049/delayed CL00 +0.83% has rebounded strongly, up more than 2%.

The pressure is on for Zoom Video /zigman2/quotes/211319643/composite ZM -1.32% after executives spoke of declining revenue , despite the video conferencing group’s upbeat results and full-year revenue outlook.

Also falling are Abercrombie & Fitch /zigman2/quotes/206677024/composite ANF -3.75% shares after the teen retailer beat forecasts , but also spoke of “ongoing supply chain constraints,” delivery delays and higher costs.

And cut-rate retailer Dollar Tree /zigman2/quotes/203712248/composite DLTR -5.67% is raising prices to $1.25 . Shares are down.

The markets

Stocks /zigman2/quotes/210599714/realtime SPX +0.01% /zigman2/quotes/210598065/realtime DJIA +0.03% are struggling for traction , with a little pressure on the Nasdaq /zigman2/quotes/210598365/realtime COMP -0.30% seeing a little pressure as 10-year /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +1.46% and 2-year /zigman2/quotes/211347045/realtime BX:TMUBMUSD02Y +1.73% yields surge. The Turkish lira /zigman2/quotes/210561895/realtime/sampled USDTRY +0.3540% is sinking to new lows, down 12% against the dollar after comments by the country’s leader.

Random reads

Here’s why China banned this viral song .

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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 111.20
+0.92 +0.83%
Volume: 24,824
May 23, 2022 2:22a
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 111.20
+0.92 +0.83%
Volume: 24,824
May 23, 2022 2:22a
loading...
/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 89.74
-1.20 -1.32%
Volume: 4.74M
May 20, 2022 4:00p
P/E Ratio
19.96
Dividend Yield
N/A
Market Cap
$26.84 billion
Rev. per Employee
$604,076
loading...
/zigman2/quotes/206677024/composite
US : U.S.: NYSE
$ 27.97
-1.09 -3.75%
Volume: 2.57M
May 20, 2022 4:00p
P/E Ratio
6.63
Dividend Yield
0.00%
Market Cap
$1.41 billion
Rev. per Employee
$117,866
loading...
/zigman2/quotes/203712248/composite
US : U.S.: Nasdaq
$ 127.88
-7.69 -5.67%
Volume: 4.93M
May 20, 2022 4:00p
P/E Ratio
22.07
Dividend Yield
N/A
Market Cap
$28.79 billion
Rev. per Employee
$125,003
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,901.36
+0.57 +0.01%
Volume: 3.00B
May 20, 2022 5:03p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,261.90
+8.77 +0.03%
Volume: 498.89M
May 20, 2022 5:03p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
11,354.62
-33.88 -0.30%
Volume: 0.00
May 20, 2022 5:16p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.83
+0.04 +1.46%
Volume: 0.00
May 23, 2022 2:32a
loading...
/zigman2/quotes/211347045/realtime
add Add to watchlist BX:TMUBMUSD02Y
BX : Tullett Prebon
2.62
+0.04 +1.73%
Volume: 0.00
May 23, 2022 2:31a
loading...
/zigman2/quotes/210561895/realtime/sampled
US : Tullett Prebon
15.9597
+0.0563 +0.3540%
Volume: 0.0000
May 23, 2022 2:32a
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