Stock Market Recap: This Week’s 5 Top Stories

It’s been a busy week for the stock market and no one would blame you for missing out on some of the biggest stories. That’s why we’re going over the top stories from this week in our stock market recap!

stock market recap: skyscraper buildings viewed from the ground with Wall Street street sign in the foreground (10 richest people on Wall Street)

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There’s been plenty of news moving stocks throughout the week. One major factor that continues to affect markets is the ongoing war between Russia and Ukraine. Add in inflation and persisting Covid-19 fears and it’s no surprise the market has been through a lot already this year.

But let’s get into the biggest stories from just this week that have stocks moving.

Stock Market Recap: Cannabis News

There’s been quite a bit of marijuana news that’s excited investors this week. That started when two mergers of cannabis companies were announced. Following that, we’re seeing an increase in marijuana stocks today, including Sundial Growers (NASDAQ:SNDL), Canopy Growth (NASDAQ:CGC) and Tilray (NASDAQ:TLRY), as a legalization bill heads of the U.S. House of Representatives.

Stock Market Recap: Chip News

Chips stocks got a boost this week on reports that Nvidia (NASDAQ:NVDA) and Intel (NASDAQ:INTC) may be working on a deal. That would have INTC taking over some chip production for Nvidia to move part of its manufacturing to the U.S.

Stock Market Recap: Fertilizer News

Fertilizer is facing a shortage as the war between Russia and Ukraine constrains supplies. As a result, shares of stocks in the sector, such as Archer-Daniels-Midland (NYSE:ADM), Nutrien (NYSE:NTR), Mosaic (NYSE:MOS) and CF Industries (NYSE:CF), got a boost.

Stock Market Recap: Uranium News

Uranium has been a hot topic over in Europe on talk that nuclear energy might become a new focus point. That’s also a result of the war in Ukraine as nuclear is being looked at as an option to replace oil exports from Russia. The news saw shares of Cameco (NYSE:CCJ), Denison Mines (NYSEAMERICAN:DNN), and others moving.

Stock Market Recap: Meme News

And it wouldn’t be a fun trading week without meme stocks making waves. The big news this week came from Reddit darling GameStop (NYSE:GME). Included in that is Chairman Ryan Cohen buying 100,000 shares and a non-fungible token (NFT) marketplace from the video game retailer.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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