Traders return to their desks tomorrow following Friday's selloff

Published: September 18 2022, 10:00 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 is currently down 1.66% and trading around 12,741.

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

Trading in the US will continue tomorrow in around a day time, meanwhile European markets closed lower Friday. Asia-Pacific markets were down Friday as ASX 200 is down by 1.52%, reaching 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) 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 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.

Risk-off mood drags Outbrain 7.44% lower

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%.
Outbrain's market cap currently stands at $201.22 million with an average daily volume of 453,991 shares.

Bearish mood pushes Bright Health to session low of $1.38

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 under-performing the Nasdaq by 22.67%.

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