The stock ended a difficult week with an ugly Friday. The sluggish performance was due to the Federal Reserve’s rapid completion of its monetary assistance program for the markets and the economy – the performance of the options market added insult to injury.
Fell 532 points or 1.5%
Fell 1%, and
Decreased by 0.1%.
During the week, the Dow, S&P 500 and Nasdaq Composite fell 1.7%, 2% and 2.9%, respectively. Meanwhile, the S&P 500 IT sector fell 3.9% over its worst weekly performance so far this year.
With the Federal Reserve’s decision on Wednesday to hasten the decision to ease the size and put the pencil on three interest rate hikes for next year, investors will no doubt have to worry about the central bank’s slump. The Bank of England interest rate increase 0.1% to 0.25% finally stuck to investors.
“Investors [continue to] Most of the central banks around the world are digesting the hawk change this week, while concerns about the health of the economy continue, ”wrote Tom Essay, founder of Sevens Report Research.
However, other banks take it much easier. The Central Bank of Japan appeared on the side of the European Central Bank on Friday, hitting an overall bad tone, announcing the withdrawal of some of its emergency Govit-19 epidemic funds. Bank of Japan Governor Haruhiko Kuroda stressed that the monetary incentive would continue and that borrowing costs would be lower in the coming months.
But sometimes markets can move by internal factors rather than anything fundamental, and that may be now NatAlliance Securities’ Andrew Brenner said. On Friday, he noted, “Four times the magic, “Stock options, stock-index futures, single-stock futures and index options all expire in a single day. These days, market makers are forced to maintain positions that can create stock-reducing feedback loops.
Edward Moya, Onda’s senior market analyst, wrote on Friday that the market has seen some additional volatility due to the options market.
JJ Kinahan, Chief Marketing Strategy at DD Ameridrate, wrote, “When traders open these trades it causes more volatility.
Although technology stocks moved away from the worst levels of the day, most stocks ended the day lower. According to FactSet, three-quarters of the shares in the S&P 500 were undervalued.
Asian stock markets closed 13-month low on Friday with Japanese stocks
Index down 1.8%, Hong Kong
Hong Cheng Index and The
Both are down 1.2%.
European markets followed a general trend with Pan-European Stoxx 600 The index is down 0.6%.
Oil prices fell 1.9% to $ 70.47 a barrel.
Here are six stocks moving on Friday:
Shares in Electronic Medical Registration Company
(Ticker: CERN) up 12.9%, after The Wall Street Journal announced that the software maker
(ORCL) was In the speech to receive The company has a contract worth about $ 30 billion.
The stock fell 6.4%.
U.S. Distribution Group
(FDX) increased 5% as the company withdrew its original 2022 financial forecast after easing concerns about labor shortages.
(RIVN) Electric-Automotive Company fell 10.3% in its first results presentation since the listing, which fell short of this year’s production target and investors were disappointed with lower forecast numbers.
(X) Interest, tax depreciation and depreciation decreased by 1.6% after publishing lower-than-expected fourth-quarter earnings guidance.
(TSLA) rose 0.6% after CEO, Elon Musk, sold more shares.
Write to Jacob Sonenshine at [email protected], [email protected] at Pierre Briançon and [email protected] at Ben Lewison
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