Markets are down midway through the trading session

Published: September 29 2022, 15:00 GMT+0

Markets are down midway through the trading session

  • Carmax tumbles 22.21% halfway through the session As things stand, Oatly (down 7.89%) and Bright Health (down 5.08%) are underperforming today
  • European markets are dropping as FTSE is down by 2.21%, drops to 6,850.25

The trading session is well on its way, the leading indices are currently lower — S&P 500 drawing back 2.11% to 3,640.64. Nasdaq slipping 2.91% and closing at 10,730.

European markets are down as FTSE drops to 6,850.25 (down 2.21%). Asia-Pacific markets are up as ASX 200 added 1.44% to trade at 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 United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -215,000, falling short of the 443,000 projections and continuing its decline from the previous 1.14 million figure.

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) will be released tomorrow at 12:30 UTC.

Carmax is trading at $67.23, tumbles 22.21%. 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%. The company has a market cap of $705.26 million with an average daily trading volume of 2 million shares. So far in 2022, it has been under-performing the Nasdaq by 25.02%.