Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 15:00 GMT+0

Traders return to their desks tomorrow following Friday's selloff

  • FedEx was the biggest decliner after giving up 21.4% Friday As things stand, Bright Health (down 9.21%) and Outbrain (down 7.44%) are underperforming today
  • European markets were down Friday as DAX is down by 1.66%, reaching 12,741

Friday's market activity meant that leading equity indices in the US declined as after dropping 0.72%, S&P 500 closed at 3,873.33. Nasdaq slipped 0.9% and closed at 11,448. Dow Jones closed at 30,822, a 0.45% change.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets were down Friday as DAX is currently down 1.66% and trading around 12,741. Asia-Pacific markets closed lower Friday.

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

While price action maintains a negative bias, United States TIC Net Long-Term Transactions (Jul) released Friday with a figure of 21.4 billion, while the previous figure was 121.8 billion. United States CFTC Gold speculative net positions came out at 97,300. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 11,800.

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

Friday's bearishness meant that FedEx lost 21.4% Friday before closing at $161.02. Bright Health (down 9.21%), Outbrain (down 7.44%) also underperformed Friday.

Lacklustre market Friday sentiment sees Outbrain drop 7.44%

Friday's session suggests a further slow down: early in Friday's session, Outbrain Inc. Common Stock dropped to $3.52 from $3.9 at the end of Thursday, before closing at $3.61. During the session, it lost 7.44%.
The company has a market cap of $201.22 million with an average daily volume of 453,991 shares.

Bright Health sheds 9.21% within $1.38 to $1.5 daily range

Friday's session continued down the same path: early in Friday's session, Bright Health dropped to $1.38 from $1.52 at the end of Thursday, before closing at $1.38. During the session, it lost 9.21%.
The company's market cap is $868.98 million with an average daily trading volume of 1.83 million shares. So far in 2022, it has been doing worse than the Nasdaq by 22.67%.

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