The major stock market indexes remain under pressure at the noon hour on Monday, after lifting above midmorning lows. The Dow Jones Industrial Average has bounced but is still trading lower by nearly 500 points.
XThe Nasdaq composite has lost 2.1%. The S&P 500 is down 1.7% while the Dow Jones has trimmed 1.5%.
The Russell 2000 small-cap ETF (IWM) is lower by 1.7%, slightly better than the Nasdaq 100-tracking ETF Invesco QQQ Trust (QQQ). The big tech benchmark is trading 2.1% lower after dropping below the 21-day exponential moving average.
NYSE volume is down 5.3% and Nasdaq volume down 13.4%, compared to the same time on Friday.
The SPDR Select Energy ETF (XLE) has gained 0.1%. Crude oil has recovered deep losses, trading at $90 per barrel after the Saudi oil minister threatened to lower supplies. Natural gas is showing strength, up 3.9%.
Bitcoin futures are relatively flat, gaining 0.1% to $21,245.
Yield on the 10-year Treasury note is up 5 basis points to 3.02%.
Markets now see a 47.5% likelihood the Fed will boost rates by 50 basis points in September and a higher 52.5% chance of a 75 basis-point hike.
Natural Gas Refiner Breaks Out
Norway-based oil and gas refiner Equinor (EQNR) has gained 3.2% and broken out of an undefined base, hitting the 39.25 buy point on heavy volume.
Equinor is the No. 1 stock in the Oil and Gas Integrated group, as well as a member of the IBD 50 and Leaderboard Leaders watchlists.
Phoenix-based natural foods grocer Sprouts Farmers Market (SFM) is up 0.5%, breaking out of a cup-with-handle base and hitting the 31.59 buy point on the MarketSmith chart.
The Wall Street Journal's Heard on the Street stock-picking contest recently featured the grocer.
Vipshop (VIPS), a Chinese online discount retailer, is up 8.2% on heavy volume. Credit Suisse just upgraded the stock to "Outperform" with a price target of 12. Citigroup also upgraded its rating on VIPS to "Neutral" from "Sell."
Stock Market Today: Buffett Disputes OXY Takeover Rumors
Occidental Petroleum (OXY) changed course after Friday's 9.9% gain, falling 2.8% on heavy volume.
The Wall Street Journal reported that "Mr. Buffett hasn't informed Occidental of any plans to acquire a controlling stake in the company and is unlikely to do so in the near-term." Buffett's Berkshire Hathaway had received permission to buy up to 50% of the driller's shares, causing investors to speculate about a possible takeover.
Meme Stocks Still Falling
AMC Entertainment (AMC) has plunged 35.8% after newly-issued preferred shares begin to trade under the ticker symbol (APE).
GameStop (GME) has given up another 4.0%, continuing its downward spiral. Bed Bath & Beyond (BBBY) stock also continued to lose ground and is down 9.9% at this hour.
Stock Market Today: IBD 50 Stocks On The Move
The IBD 50 ETF (FFTY), a measure of growth stocks, is down 0.3%, holding up better than major indexes.
Fitness beverage company Celsius (CELH) is the IBD leader, up 5.2% with an impressive 98 Relative Strength Rating on the chart.
Comstock Resources (CRK) is having another strong day, up 4.8% after Goldman Sachs raises its price target to 13.50.
ON Semiconductor (ON) has shed 3.5%, with a heavy chip sector weighing on shares.
YOU MAY ALSO LIKE:
What Is CAN SLIM? If You Want To Find Winning Stocks, Better Know It
IBD Live: Learn And Analyze Growth Stocks With The Pros
Looking For The Next Big Stock Market Winners? Start With These 3 Steps
Want More IBD Insights? Subscribe To Our Investing Podcast
"stock" - Google News
August 22, 2022 at 11:34PM
https://ift.tt/4dOJcvK
Stock Market Struggles Near Lows; Natural Gas Refiner Breaks Out - Investor's Business Daily
"stock" - Google News
https://ift.tt/gK20iuJ
https://ift.tt/5ob68pO
Bagikan Berita Ini
0 Response to "Stock Market Struggles Near Lows; Natural Gas Refiner Breaks Out - Investor's Business Daily"
Post a Comment