Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 19:00 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

Before tomorrow's session: leading equity indices in the US declined as S&P 500 was down 0.72% before closing the session at 3,873.33. Nasdaq closed at 11,448, a 0.9% change. Dow Jones closed at 30,822, a 0.45% change.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets closed lower Friday. Asia-Pacific markets closed lower Friday.

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

Amid the market gloom, 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. Fresh CFTC Gold speculative net positions data from United States came out at 97,300. United States CFTC Nasdaq 100 speculative net positions released Friday with a figure of 11,800, while the previous figure was 22,000.

Furthermore, United States Building Permits (Aug) scheduled to come out Tuesday.

Friday's bearishness meant that 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 down move comes on back of 16 days of trading sideways. Daily trading volume (1.99 million shares) increased, making up 439% of the 21-day average (453,991).

Bright Health depreciates 9.21% with $1.38 as the low of the day

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%.
Bright Health has a market cap of $868.98 million with an average daily 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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