Dow Jones' futures plummeted Thursday morning, as well as the future of the S&P 500 and the future of the Nasdaq. The stock market traded on Wednesday with CPI inflation data hotter than expected, the S&P 500 and Nasdaq broke below the latest low level.
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The market downturn and the Nasdaq bear market are showing no signs of slowing down. Revenge efforts are heartfelt and destructive. And despite the fears of a market downturn, the contrarian index, however, has not changed.
Meanwhile, the collapse of so-called stablecoins, digital currencies that should be targeted at the dollar, continues to sink, putting further pressure on Bitcoin and other cryptocurrencies.
Following the closure, Walt Disney (DIS) and Tesla (TSLA) rival Rivian (RIVN) reported weaker quarter results than expected. But investors are focused on Disney + Disney subscription figures after the dramatic decline of Netflix (NFLX). Rivian shareholders have entered into EV's first statement that it is reviving the delivery of bakkies delivered to major customers Amazon.com (AMZN).
Tesla stock is approaching a recent downturn in its broader and more volatile mix. Tesla faces many near and medium-term challenges.
Meanwhile, Merck (MRK) broke out briefly, while Eli Lilly (LLY), Anthem (ANTM), Chevron (CVX) and Dollar Tree (DLTR) traded their 50-day lines. They all show limited power.
Dow Jones Futures Today
The future of the Dow Jones is down 0.65% compared to the fair value. The future of the S&P 500 fell by 0.85% and the future of the Nasdaq 100 fell by 1.3%. The DIS stock is part of the Dow Jones and S&P 500.
Treasury's 10-year yield dropped by 9 points to 2.83%.
Crude oil prices in the U.S. decreased by 2%. The future of copper exceeds 3%. There is growing concern that the Fed rate hike to fight inflation will create a recession in the midst of many economic growth challenges.
8:30 a.m. ET, the Department of Labor will release the April manufacturer's price index and the latest weekly unemployment claims.
Keep in mind that the night action in Dow futures and elsewhere does not translate into real trading in the next stock market.
Stock Market Wednesday
The stock market was volatile at the opening of Wednesday following an April buyer price index. Inflation fell to 8.3% from March 40 to 8.5%, but that was much hotter than expected. Primary consumer prices rose 0.6% compared to March.
Trading up and down turned out to be very bad, especially for the Nasdaq. Big signals have dropped to 52 new levels, closing near their worst day levels.
The Dow Jones Industrial Average fell 1% in stock market trading on Wednesday. The S&P 500 index lost 1.6%. The Nasdaq combination dropped by 3.2%. Russell 2000 with small wheels exceeded 2.5%.
Treasury's 10-year yield dropped by 7 points to 2.92%, its third consecutive decline. That is after emerging 3.04% initially - and even more before CPI data opens. Meanwhile, the two-year yield increased by 1 point to 2.63%. The 2-year yield is very close to Fed rates, while the 10-year Treasury Department is hearing the effects of growth slowdown forecasts.
Prices for US crude oil prices have dropped by 6% to 105.71 a barrel. As the cases in Shanghai and China Covid plummeted over the past few weeks, hopes are growing that the Chinese government will ease the economic downturn, increasing the demand for crude oil and other commodities. But that has not happened yet.
ETFs
Among the leading ETFs, Innovator ETF (FFTY) decreased by 1.4%, while Innovator Breakout Opportunities ETF (BOUT) was up 0.15%. IShares Expanded Tech-Software Sector ETF (IGV) decreased by 3.3%. The lowest share price of VanEck Vectors Semiconductor ETF (SMH) is down 3.1%.
SPDR S&P Metals & Mining ETF (XME) fell 0.7% while Global X U.S. Infrastructure Development ETF (PAVE) decreased by 1.4%. The U.S. Global Jets ETF (JETS) decreased by 2.4%. SPDR S&P Homebuilders ETF (XHB) is down 3.6%. Energy Select SPDR ETF (XLE) improved by 1.3%, CVX stock is a big part. Financial Select SPDR ETF (XLF) is down 0.9%. The Health Care Select Sector SPDR Fund (XLV) is down 0.7%, with Merck, Eli Lilly and ANTM all having significant shares.
Demonstrating a highly speculative news stock, the ARK Innovation ETF (ARKK) fell by 10.1%, with key participants Unity Software (U) and Coinbase (COIN) falling into weak results and direction. ARK Genomics ETF (ARKG) decreased by 7.8%. Both ETFs are at a minimum of two years. TSLA stock remains No. 1 holding on all ETF ETFs.
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Courtesy Grizler.com
