Pessimistic mood enables market slide

Published: September 20 2022, 22:00 GMT+0

Pessimistic mood enables market slide

  • Sotera Health was the biggest decliner today after giving up 16.58% As things stand, Taboola (down 5.86%) and Bright Health (down 4.8%) are underperforming today
  • European markets were down today as CAC is currently down 1.35% and trading around 5,979.47.

Today's market activity meant that leading equity indices in the US declined as Dow Jones closed at 30,700, a 1% change. S&P 500 slipped 1.13% and closed at 3,856. Nasdaq shed 0.95% and closed at 11,425.

US markets are set to open tomorrow in around 15 hours. In the meantime, European markets closed lower today. Asia-Pacific markets closed higher today whilst ASX 200 is up by 1.29%, hitting 6,806.4.

The earnings season is coming to an end and Adobe and FedEx Corp have release their reports.

Meanwhile, United States Building Permits (Aug) released today at 12:30 UTC with a figure of 1.52 million, while the previous figure was 1.69 million. United States API Weekly Crude Oil Stock came out at 1 million, while a consensus of analysts was expecting 2.32 million. United States 20-Year Bond Auction released today at 17:00 UTC with a figure of 3.82, while the previous figure was 3.38.

Looking ahead, ongoing depreciation may be prolonged as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 2.32 million from the preceding figure of 2.44 million. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 218,000, following on from the preceding figure of 213,000. New data is set to be published Thursday.

Furthermore, United States Interest Rate is expected tomorrow at 18:00 UTC.

Today's bearishness meant that Sotera Health lost 16.58% today before closing at $8.2. As things stand, Taboola (down 5.86%), Bright Health (down 4.8%) are also underperforming today.

Today's 4.8% loss extends a 6 day bearish run in which Bright Health Group Inc. had already lost 43 cents from its share value. Daily trading volume (2.33 million shares) increased, making up 123% of the 21-day average (1.90 million).

Sotera Health depreciates 16.58% with $8 as the low of the day

Today's session continued the recent downtrend: early in today's session, Sotera Health dropped to $8 from $9.83 at the end of yesterday, before closing at $8.2. During the session, it lost 16.58%.
Sotera Health's market cap currently stands at $2.32 billion with an average daily volume of 2.24 million shares.