Dow Jones today finished in the red along with the S&P 500 Index or SPX, Nasdaq-100, and Russell 2000. Overall, the stock market fell near yearly lows. Some commodities that influence inflation like crude oil, gasoline, and gold were also lower. However, the crypto product, bitcoin price was up over 2% and traded in the $19K range. Stocks that showed strength included Apple (AAPL), Costco (COST), Walmart (WMT), Amazon (AMZN), and Tesla (TSLA). On the other hand, stocks that showed weakness included Exxon Mobil (XOM), Chevron (CVX), Crown Castle (CCI), Duke Energy (DUK), and Southern Company (SO). Next, Scott Connor weighs in on casino stocks rallying as Macau is set to allow tour groups from mainland China in November. Also, Lyft Inc. (LYFT) stock was downgraded to neutral from buy at UBS. Finally, Connor discusses economic data like the Chicago Fed National Activity Index and Dallas Fed Manufacturing Survey.
26 Sep 2022