Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 22:00 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 falls to 12,741 (down 1.66%).

Friday's trading session saw to it that leading equity indices in the US declined as S&P 500 shed 0.72% and closed 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 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 & Adobe have release their reports.

While price action maintains a negative bias, 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 released Friday with a figure of 11,800, while the previous figure was 22,000.

Furthermore, United States Building Permits (Aug) will be released Tuesday.

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

Risk-off mood drags Bright Health 9.21% lower

More of the same from Friday's session: early in Friday's session, Bright Health Group Inc. 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 under-performing the Nasdaq by 22.67%.

Outbrain ended the session at $3.61 (-7.44%)

Friday's session suggests a further slow down: early in Friday's session, Outbrain 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.

Back