Markets fall as trading session comes to a close

Published: September 30 2022, 19:00 GMT+0

Markets fall as trading session comes to a close

  • Nike crashes 12.2% as session draws to a close Bright Health (down 4.82%) has also underperformed today.
  • European session in progress; markets are rising as CAC ascends by 1.51%, reaching 5,762.34.

As the session draws to an end the leading indices are slipping — Dow Jones drawing back 1.18% to 28,881. S&P 500 slipping 0.91% and closing at 3,607.24.

European markets are trending positively as CAC added 1.51% to trade at 5,762.34. Asia-Pacific markets are dropping as Nikkei is down by 1.83%, dips to 25,937

The earnings season is coming to an end and Nike and Micron Technology have release their reports.

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

Amid the market gloom, United States Core PCE Price Index (MoM) (Aug) came out at 0.6, while a consensus of analysts was expecting 0.5.

While markets are generally down so far today, some stocks outperformed such as GBP/NZD gained 2.42% to reach 1.992.

Nike is trading at $83.7, crashes 12.2%. Bright Health (down 4.82%) has also underperformed today.

Bright Health sheds 4.82%; sets session low of $1.05

As the session draws to a close, Bright Health is recovering but is not all the way back to $1.12 after dipping down to $1.05 today. The company has a market cap of $671.26 million with an average daily trading volume of 2 million shares. So far in 2022, it has been under-performing the Nasdaq by 22.44%.

GBP/NZD goes back up to Feb 28 levels, reaching 1.9925

While yesterday ended at 1.945, today, GBP/NZD rallied above 1.9925 for the first time in 7 months and gained 470 pips — now trading at 1.992. Today's session seems to be pointing upwards and is building on GBP/NZD's 5 days of gains (+649 pips).

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