Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 20:00 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 after dropping 0.72%, S&P 500 closed at 3,873.33. Nasdaq lost 0.9% and ended the session at 11,448. Dow Jones slipped 0.45% and closed at 30,822.

US markets are currently closed but will resume tomorrow in around 17 hours time. European markets closed lower Friday. Asia-Pacific markets were down Friday as ASX 200 is down by 1.52%, falls to 6,739

The earnings season is coming to an end and Oracle and 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. United States CFTC Gold speculative net positions released Friday with a figure of 97,300, while the previous figure was 103,900. 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. As things stand, Bright Health (down 9.21%), Outbrain (down 7.44%) are also underperforming today.

Bearish mood pushes Outbrain to session low of $3.52

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's market cap is $201.22 million with an average daily volume of 453,991 shares.

Bright Health lost 9.21% Friday, closed at $1.38

More of the same from Friday's session: after ending Thursday at $1.52, Bright Health dropped to $1.38 early in Friday's session and closed at $1.38. Overall, it lost 9.21% of its value. Bright Health is currently trading with a market cap of $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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