By: Tom Gentile
on July 18th, 2022
Or rather its continued its slide that its been on all year so far.
Last Monday through Wednesday the markets were sliding back in price. They did not take out the lows on the year before reversing a bit last Thursday and then REALLY popping higher on Friday.
Friday’s surge higher did not erase the losses of last week, but came close.
Today, the markets selling resumed.
Three News Items for July 18. 2022 in the Financial Markets
Alphabet (NASDAQ: GOOGL) Class A and C stocsk are trading now post their 20:1 stock split. The stock valuation doesn’t change with a stock split, but there can be some expected buying due to the revised price.
That did not happen today as it with many other stocks sold off.
Apple, Inc. (NASDAQ: AAPL) had a report from Bloomberg news come out stating they would slow hiring as well there spending next year and post that news the shares of the stock ended up down 2$ on the day.
Last, sentiment for Home Builders was reported the lowest since May of 2020.
Were any of these three items the catalysts for the drop today? We would say no. not in and of themselves, but the culmination of all three plus all the other concerns that have been with us this year regarding inflation, rate hikes, global supply chain concerns, etc.
Morning Reports List: are you Bullish or Bearish?
Take inventory of your market sentiment.
Are you bnullish that the economic reports from last week, like the CPI, are behind us and the Fed should be able to figure out a soft landing for the economy so we go higher or is their a bigger drop to come?
The Morning Reports lists provide data on the activity for both bullish and bearish options.
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