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Stock Market Today Was As Bad As June 2020 Lows After CPI Report

Dow Jones today was in the red along with the S&P 500 Index or SPX, Russell 2000, and Nasdaq-100. Overall, the stock market had the worst day since June 2020 after the Consumer Price Index or CPI report was released. However, some energy commodities that influence inflation were higher. These included gasoline and natural gas. The crypto product, bitcoin price was down almost 10% and traded in the $20K level. Stocks that saw weakness were Costco (COST), Amazon (AMZN), Tesla (TSLA), Microsoft (MSFT), Apple (AAPL), and Meta Platforms (META). Next, Scott Connor weighs in on Twitter (TWTR) shareholders approving Elon Musk’s offer, but he is still fighting to get out of the deal. Also, the Oracle (ORCL) earnings report was released and showed a miss in both top and bottom lines, but the company has a positive outlook on the cloud space. Finally, Connor discusses economic data like the CPI report that showed higher than expected inflation.

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13 Sep 2022

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