Traders eye rebound tomorrow following Friday's market slide

Published: March 19 2023, 08:00 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 is currently down 1.43% and trading around 6,925.4.

A reminder of where Friday ended before the next session begins: leading equity indices in the US declined as Dow Jones closed at 31,862, a 1.19% change. After dropping 1.1%, S&P 500 closed at 3,916.64.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets closed lower Friday. Upbeat Asia-Pacific markets ended Friday higher as Nikkei climbs 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 | -12.19% at 27.51 cents

  • The US health insurance company has lost 15.71% over the last 9 days.
  • Daily trading volume (11.44 million shares) increased, making up 390% of the 21-day average (2.94 million).

So far this year, it has been doing worse than the Nasdaq by 43.92%. Bright Health's market cap currently stands at $173.39 million with an average daily trading volume of 2.94 million shares. Bright Health's last revenue report was $551.42 million with an EPS of -34 cents.

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

  • So far this year, the regional full-service bank has declined 72.5% while touching highs around $170.53 earlier this year.

So far this year, it has been under-performing the S&P 500 by 73.3%. The company has a market cap of $4.29 billion with an average daily volume of 10.72 million shares. First Republic Bank is forecasted to generate revenues of $1.44 billion and EPS of $1.82.