Dow Jones today was down around 1% along with the S&P 500 Index or SPX, Nasdaq-100, and Russell 2000. The major indices post a third straight week of losses. Some commodities that influence inflation were higher. These included crude oil, gasoline, and gold. The crypto product, bitcoin price was relatively flat and traded in the $19K level. Stocks like Freeport-McMoran (FCX), Exxon Mobil (XOM), and ConocoPhillips (COP) showed relative strength. On the other hand, stocks like Crown Castle (CCI), UnitedHealth (UNH), Pfizer (PFE), Meta Platforms (META), and Alphabet (GOOG) showed weakness. Next, Scott Connor weighs in on the Lululemon (LULU) stock price rising after a better-than-expected earnings report. Also, Starbucks (SBUX) named Laxman Narasimhan as their new CEO. Finally, Connor discusses economic data like the Employment Situation and Factory Orders reports.
03 Sep 2022