Markets are down midway through the trading session

Published: September 29 2022, 16:00 GMT+0

Markets are down midway through the trading session

  • Carmax crashes 23.1% halfway through the session As things stand, Oatly (down 7.89%) and Bright Health (down 5.08%) are underperforming today
  • European markets have struggled to gain ground and are now trading lower midway through the session.

The trading session is well on its way, the leading indices are currently lower — Nasdaq drawing back 2.5% to 10,775. S&P 500 trades at 3,655.7 after losing 1.7%.

European markets are down as FTSE drops to 6,881.59 (down 1.77%). Asia-Pacific session in progress; markets are rising as ASX 200 is up by 1.44%, hitting 6,555.

The earnings season is coming to an end and Paychex Inc & Cintas Corp have release their reports.

Market's down-tick coincides with some negative macro data published earlier as Crude Oil Inventories in United States fell short of market expectations (443,000) with a reading of -215,000, continuing the decline from the previous figure of 1.14 million.

Markets are trading lower today despite some positive data published earlier as United States Initial Jobless Claims beat analyst expectations of 215,000 and the previous reading of 209,000 with new data of 193,000. Highly important GDP data from United States beat analyst expectations of -0.6 with a reading of -0.6.

Furthermore, United States Core PCE Price Index (MoM) (Aug) scheduled to come out tomorrow at 12:30 UTC.

Carmax is currently trading at $66.46 after declining 23.1%. As things stand, Oatly (down 7.89%), Bright Health (down 5.08%) are also underperforming today.

Bright Health currently down 5.08% prior to afternoon session

Bright Health is trading close to the $1.12 level today, after ending yesterday at $1.18 and dropping 5.08%. Bright Health is currently trading with a market cap of $705.26 million with an average daily volume of 2 million shares. So far in 2022, it has been doing worse than the Nasdaq by 25.02%.

Oatly currently down 7.89% prior to afternoon session

Oatly drops 7.89% in early trade and remains within touching distance of the $2.57 level. The company's market cap is $1.52 billion with an average daily trading volume of 2.94 million shares. So far in 2022, it has been under-performing the Nasdaq by 23.41%.

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