Dow plunge still not at last gasp levels
The US30's momentum is showing bearish pressure. If it maintains current readings, prices are likely to decline further.
The US30's momentum is showing bearish pressure. If it maintains current readings, prices are likely to decline further.
The US Index posted its worst day since the height of the pandemic yesterday, as major retailers saw their bottom lines getting crushed, causing risk aversion and renewed fears of stagflation
Large US retailers were in focus this week, as they reported their earnings, which showed lower profitability and margins in an environment of high inflation
The US30 bounce since last week Thursday has run into overhead resistance.
Elon Musk's takeover of Twitter (TWTR.us) cannot proceed until the company provides proof that the number of fake or spam accounts makes up less than 5% of total accounts.
Dow breaks out of short-term continuation pattern ahead of cash open.
The week of May 09-13 was bad for Wall Street and definitely did not lack headlines, as Elon Musk just put the Twitter deal temporarily on hold, Ford sold Rivian shares, Disney+ impressed and other news attracted attention
The S&P 500 is rallying pre-cash open. However, key levels above suggest caution still needs to be exercised.
The Walt Disney Company reported strong financial results for fiscal Q2 2022 on Wednesday, with an addition of 7.9 million users in Disney+ and a profit for its Parks (DPEP) segment
The online crypto exchange released its quarterly report on Tuesday, which showed a steep Revenue decline, in a backdrop of falling cryptocurrency prices
Stocks are under pressure following the Fed press conference last Wednesday. Fed Chair Powell took 75bps off the table for the next two meetings, and the market is now questioning this, given the rampant inflation.
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