US markets end yesterday lower alongside bearish sentiment in Asia-Pacific indices

Published: September 23 2022, 03:00 GMT+0

US markets end yesterday lower alongside bearish sentiment in Asia-Pacific indices

  • Costco & Accenture plc Class A (Ireland) are the latest companies to report Q2 earnings while Nike and Micron Technology next
  • Bright Health suffered relatively more than others yesterday after 4.24% dip
  • Asia-Pacific markets have struggled to gain ground and are now trading lower midway through the session.

Yesterday's market activity meant that leading equity indices in the US declined as Nasdaq closed at 11,067, a 1.37% change. S&P 500 shed 0.84% and closed at 3,758. Dow Jones lost 0.35% and ended the session at 30,077.

US markets are currently closed but will resume today in around 10 hours time. Asia-Pacific markets have struggled to gain ground and are now trading lower midway through the session. European markets were down yesterday as CAC is down by 1.87%, drops to 5,918.5

In a tough day for US markets, both stocks and bonds suffered from risk-off sentiment and a higher likelihood of a hawkish Fed at its next FOMC meeting. The iShares U.S. Treasury Bond ETF declined 0.99% to trade at $22.94.

The earnings season is coming to an end and Costco & Accenture plc Class A (Ireland) have release their reports.

Market's down-tick coincides with some negative macro data published earlier as following a previous reading of 2.44 million, Crude Oil Inventories in United States released Wednesday fell short of the 2.16 million figure expected by analysts with an actual reading of 1.14 million.

Markets are trading lower today despite some positive data published earlier as highly important Initial Jobless Claims data from United States beat analyst expectations of 218,000 with a reading of 213,000.

Amid the market gloom, United States Interest Rate released Wednesday with a figure of 3.25, while the previous figure was 2.5.

Furthermore, United States Fed Chair Powell speech set for today at 18:00 UTC.

While markets are generally down so far today, some stocks outperformed such as Outbrain gained 6.59% to reach $3.72. Playtika (up 6.03%).

Yesterday's bearishness meant that Bright Health lost 4.24% yesterday before closing at $1.13.

Bright Health dropped by 4.24% and closed the session at $1.13

Yesterday's session continued the recent downtrend: after ending Wednesday at $1.18, Bright Health Group Inc. dropped to $1.08 early in yesterday's session and closed at $1.13. Overall, it lost 4.24% of its value. Bright Health's market cap is currently $711.56 million with an average daily trading volume of 1.97 million shares. So far in 2022, it has been under-performing the Nasdaq by 26.22%.

Bullish mood lifts Outbrain to session high of $3.77

Pointing in a similar direction, yesterday's session was more of the same — ending Wednesday at $3.49, Outbrain rallied 6.59% yesterday and stayed at the $3.72 level. The company has a market cap of $207.35 million with an average daily volume of 466,495 shares.

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