On Friday, all the major averages declined as traders absorbed the prospect of rising interest rates from the Federal Reserve and the week's corporate quarterly results.
The Dow Jones Industrial Average lost 981.36 points, or 2.8%, to 33,811.40. The S&P 500 fell 2.8% to 4,271.78, or its worst day since March. The Nasdaq Composite dropped by 2.6% to 12,839.29. "There has been severe damage in many areas of the market, while money rotated into perceived 'defensives' like Utilities, Staples, Pharma, and even mega-cap growth," said Jonathan Krinsky, chief market technician at BTIG. "Those areas, despite their strong momentum, are now unwinding lower, while the low-momentum names continue to trend down."
Coca-Cola is expected to report before the bell on Monday with a management call set at 8:30 a.m. ET. Other companies reporting on Monday include Activision Blizzard, Otis, Whirlpool and Zions Bancorp. Wall Street is also looking forward to a key measure of inflation this week. The personal consumer expenditures index is set to be released Friday before the bell. In February, the core PCE jumped 5.4%.
Oil pam!?~~
The only 'fundamental' now is the end of QE and Rate hikes. The rest is noise... This is what happened to StockMarket in 2000 when FED stopped the liquidity and hiked rates from 4.75% to 6.5% -
This StockMarket Bubble would be called FAANG Bubble! Per WarrenBuffett INTRINSIC VALUE formula, based on 2021 annual reports, $FB $AAPL $GOOGL $NFLX are significantly overvalued, but $AMZN is worst of them all - overvalued by 5,007% !!!
Will Liberals ever take the responsibility for the things they have caused..? Or just keep blaming everyone else..?
No worries, just another day of computerized organized crime on fraud street
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Starting to get old with all the selling