Dow Jones today was down around 1% along with the Nasdaq-100, Russell 2000, and S&P 500 Index or SPX. Overall, stocks extended losing streak for the third straight day. Some commodities that influence inflation were also lower. These included crude oil, gasoline, natural gas, and gold. The crypto product, bitcoin price traded in the $19K level. The financial sector saw relative strength with both Bank of America (BAC) and Wells Fargo (WFC) finishing the day in the green. On the other hand, stocks that saw weakness were Deere & Co. (DE), Nucor (NUE), Exxon Mobil (XOM), and ConocoPhillips (COP). Next, Scott Connor weighs in on Elon Musk stating that claims of Twitter (TWTR) security issues are a breach of the agreement. Also, Best Buy (BBY) stock price finished higher after their earnings report beat expectations. Finally, Connor discusses economic data like Consumer Confidence and JOLTS reports.
30 Aug 2022