Markets fall as trading session comes to a close

Published: September 29 2022, 20:00 GMT+0

Markets fall as trading session comes to a close

  • Carmax crashes 24.57% as session draws to a close As things stand, Oatly (down 8.15%) and Bright Health (down 5%) are underperforming today
  • European markets are down as FTSE is currently down 1.77% and trading around 6,881.59.

With the trading session drawing to a close, the leading indices are slipping — S&P 500 drawing back 2% to 3,645. Nasdaq slipping 2.76% and closing at 10,747.

European markets are showing losses. Asia-Pacific markets are up as ASX 200 soars by 1.44%, reaching 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 highly important Crude Oil Inventories data from United States beat analyst expectations of 443,000 with a reading of -215,000.

Markets are trading lower today despite some positive data published earlier as data for United States Initial Jobless Claims published today at 12:30 UTC came out at 193,000, beating projections of 215,000 and showing improvement over the preceding figure of 209,000. New GDP data from United States matched market expectations with a reading of -0.6 — a positive step in contrast to previous data of -1.6 from last month.

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

Carmax takes a hit, loses 24.57% of its value. As things stand, Oatly (down 8.15%), Bright Health (down 5%) are also underperforming today.

Bright Health sheds 5%; sets session low of $1.09

Bright Health Group Inc. falls 5.91 cents as trading session draws to a close around the $1.12 level. Bright Health's market cap is currently $705.83 million with an average daily volume of 2 million shares. So far in 2022, it has been under-performing the Nasdaq by 25.02%.

Carmax plunges to $65.19 after a disappointing performance report

As the current session draws to a close, Carmax remains in the $64.44 – $76 range after closing yesterday at $86.42 and dropping by 24.57%. Carmax's market cap currently stands at $10.38 billion with an average daily trading volume of 1.49 million shares. So far in 2022, it has been doing worse than the S&P 500 by 3%.

Carmax reported earnings of 0.79 per share and revenue at $8.14 billion.