Dow Jones today finished lower, while the S&P 500 Index or SPX, Nasdaq-100, and Russell 2000 were in the green. The stock market fell over 5% this week and had the worst week since 2020. Commodities that influence inflation like crude oil, gasoline, natural gas, and gold were down on the day. The crypto product, bitcoin price remained near the $20K level. Next, Scott Connor weighs in on Amazon (AMZN), Chipotle (CMG), Microsoft (MSFT), Alphabet (GOOG), and Meta Platforms (META) stocks showing strength. On the other hand, stocks that experienced weakness included Walmart (WMT), Procter & Gamble (PG), Duke Energy (DUK), Exxon Mobil (XOM), and ConocoPhillips (COP). Also, Baird upgraded American Express (AXP) to outperform with $175 price target. Another name, Tesla (TSLA) began layoffs and is expected to let go 10% of staff. Finally, Connor discusses economic data like the Industrial Production and Leading Indicators reports.
17 Jun 2022