Dow Jones today finished in the red along with the S&P 500 or SPX, Nasdaq-100, and Russell 2000. The stock market faded, and the SPX had the worst first half of the year since 1970. One of the commodities that influences inflation, natural gas, was down over 15%. The crypto product, bitcoin price broke below the $19K level. Next, Scott Connor weighs in on the utilities sector leading the way. Stocks included American Tower (AMT) and General Dynamics (GD). On the other hand, Amazon (AMZN), Alphabet (GOOG), Netflix (NFLX), Exxon Mobil (XOM), and ConocoPhillips (COP) showing weakness on the day. Morgan Stanley cut the Walt Disney (DIS) stock price target to $125 from $170. DIS shares are down about 40% year-to-date. Also, RH (RH) stock price fell to a 52-week low after cutting guidance. Finally, Connor discusses economic data like the PCE and Jobless Claims.
30 Jun 2022