Traders eye rebound tomorrow following Friday's market slide

Published: March 19 2023, 07:00 GMT+0

Traders eye rebound tomorrow following Friday's market slide

  • First Republic Bank suffered relatively more than others Friday after 32.8% dip As things stand, GoHealth (down 24.46%) and Bright Health (down 12.19%) are underperforming today
  • European markets were down Friday as CAC draws back 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 currently down 1.43% and trading around 6,925.4. Upbeat Asia-Pacific markets ended Friday higher as Nikkei rises by 1.2%, reaching 27,334.

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 | Closed 3.82 cents (-12.19%) lower at 27.51 cents

Having fallen 17.73 cents in 5 days, More of the same from Friday's session: during Friday's session, Bright Health toiled and struggled for upward momentum before closing at 27.51 cents. By the close, the the US health insurance company 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 has been on a downtrend for 7 days, losing $88.95, with Friday's session adding to the run. Daily trading volume (139.67 million shares) was higher than the current multiday average of 10.72 million. First Republic Bank disclosed a quarterly dividend of 27 cents per share on Friday, January 13th that was paid on Thursday, February 9th to all shareholders of record up until Thursday, January 26th. Based on current prices, the company's decision thereby provides First Republic Bank investors with an annual dividend yield of 4.69%.

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