Traders eye rebound tomorrow following Friday's market slide

Published: March 19 2023, 14:00 GMT+0

Traders eye rebound tomorrow following Friday's market slide

  • First Republic Bank was the biggest decliner Friday after giving up 32.8% As things stand, GoHealth (down 24.46%) and Bright Health (down 12.19%) are underperforming today
  • European markets were down Friday as CAC slumps to 6,925.4 (down 1.43%).

Friday's market activity meant that leading equity indices in the US declined as Dow Jones shed 1.19% and closed at 31,862. S&P 500 slipped 1.1% and closed at 3,916.64.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets were down Friday as CAC is down by 1.43%, reaching 6,925.4 Asia-Pacific markets closed higher Friday whilst Nikkei increases to 27,334 (up 1.2%).

Friday's bearishness meant that First Republic Bank lost 32.8% Friday before closing at $23.03. As things stand, GoHealth (down 24.46%), Bright Health (down 12.19%) are also underperforming today.

Bright Health | -12.19% at 27.51 cents

Having fallen 17.73 cents in 5 days, Friday's session continued down the same path: during Friday's session, Bright Health toiled and struggled for upward momentum before closing at 27.51 cents. By the close, the the health insurance provider suffered a 3.82 cents or 12.19% loss. Daily trading volume (11.44 million shares) was above the current multiday average of 2.94 million.

First Republic Bank | -15.37% to $19.49 in pre-market trade with 23 hours until open

  • This year has been a gloomy one for the wealth management company after trading as high as $170.53 and going on to lose 72.5% of its value.

The current year has not been the best for the wealth management company as it lost 72.5% from its highest point of $170.53. So far this year, it has been under-performing the S&P 500 by 73.3%. First Republic Bank's market cap currently stands at $4.29 billion with an average daily trading volume of 10.72 million shares. First Republic Bank is forecasted to generate revenues of $1.44 billion and EPS of $1.82.