The indices, SPX, $DJI, NDX, and RUT, gapped lower and faded and all closed in the red. 9 out of the 11 S&P 500 sectors were down. Crude oil (/CL) traded up at 91.65 but closed at 81.80, gas (/RB) is down 0.95%, natural gas (/NG) closed slightly higher, and gold (/GC) moved lower, which marks a five-day drop for gold. The TNX briefly touched 3%, the VIX closed at 20.43, and bitcoin (/BTC) traded down to 21,300. There was strength in healthcare, energy, utilities, especially in stocks DUK, MRK, UNH, OXY, and COP. There was weakness in communication services and consumer discretionary, specifically in GOOGL, META, AMZN, and TSLA. Bed Bath & Beyond (BBBY) saw a 40% drop on the day as Ryan Cohen sold his entire BBBY stake. Foot Locker (FL) rose after earnings and announced a CEO transition. The Baker Hughes Rig Count did not show much change, and new home sales and durable goods reports will be coming up next week. Tune in to find out more.
19 Aug 2022