Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 14:00 GMT+0

Traders return to their desks tomorrow following Friday's selloff

  • FedEx suffered relatively more than others Friday after 21.4% dip As things stand, Bright Health (down 9.21%) and Outbrain (down 7.44%) are underperforming today
  • European markets were down Friday as DAX dips to 12,741 (down 1.66%).

A reminder of where Friday left off before tomorrow's session begins: leading equity indices in the US declined as S&P 500 closed at 3,873.33, a 0.72% change. Nasdaq lost 0.9% and ended the session at 11,448. Dow Jones was down 0.45% before closing the session at 30,822.

Trading in the US will continue tomorrow in around 23 hours time, meanwhile European markets closed lower Friday. Asia-Pacific markets closed lower Friday.

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

Meanwhile, United States TIC Net Long-Term Transactions (Jul) came out at 21.4 billion, while a consensus of analysts was expecting 121.6 billion. United States CFTC Gold speculative net positions released Friday with a figure of 97,300, while the previous figure was 103,900. United States CFTC Nasdaq 100 speculative net positions came out at 11,800.

Furthermore, United States Building Permits (Aug) is scheduled for Tuesday.

Friday's bearishness affected individual stocks as FedEx lost 21.4% Friday before closing at $161.02. As things stand, Bright Health (down 9.21%), Outbrain (down 7.44%) are also underperforming today.

Friday's fall added to a 5 day bearish run, during which Bright Health Group Inc. lost 16 cents. Daily trading volume (11 million shares) increased, making up 604% of the 21-day average (1.83 million).

Lacklustre market Friday sentiment sees Outbrain drop 7.44%

Friday's session suggests a further slow down: after ending Thursday at $3.9, Outbrain dropped to $3.52 early in Friday's session and closed at $3.61. Overall, it lost 7.44% of its value. The company's market cap is $201.22 million with an average daily volume of 453,991 shares.