- US indices launched today's cash trading lower
- ADP well above expectations
- Bed Bath & Beyond Inc (BBBY.US) is taking into account bankruptcy filing
Three major Wall Street indices launched today's session in red, with Dow Jones trading 0.80% lower, while the S&P 500 and Nasdaq fell 0.85% and 0.9% respectively as strong data from the US labour market reinforced the narrative that the Federal Reserve will stick to its aggressive tightening. ADP report showed that private businesses created 235K jobs in December, higher than an upwardly revised 182K in November and well above market forecasts of 150K. Jobless claims fell to 204k, from the previous week's revised level of 223k and below analysts’ estimates of 225k. Also hawkish FOMC minutes and fresh remarks from several FED members put pressure on risky assets. Fed's George said the US central bank will maintain rates until 2024, while Bostic believes that despite signs that prices are moderating, there is still a lot of work to be done.
S&P 500 index stocks categorized by sectors and industries. Size represents market cap. Source: xStation5
US2000 pulled back sharply on Thursday as buyers again failed to break above major resistance at 1790 pts, which is marked with previous price reactions. As long as price sits below this level, downward move may deepen towards support at 1700 pts or even 1650 pts where October lows can be found. Source: xStation5
Company news:
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Create account Try a demo Download mobile app Download mobile appBed Bath & Beyond Inc (BBBY.US) stock plunged over 20.0% as home goods retailer is taking into consideration bankruptcy filing due to decreasing sales, dwindling cash and debt load.
Bed Bath & Beyond Inc (BBBY.US) stock fell below all-time low at $3.00 and entered uncharted waters. Source: xStation5
Walgreens Boots Alliance (WBA.US) shares dropped over 2.0% in premarket despite the drugstore posting better than expected quarterly results raising its full-year financial guidance partly due to its U.S. health care segment’s acquisition of Summit Health.
Amazon (AMZN.US) stock fell over 1.0% despite e-commerce giant announced plans of cutting 18,000 jobs, more than initially planned.
Silvergate Capital (SI.US) stock plunged over 40.0% after the crypto-friendly bank revealed that its digital asset deposits dropped by $8.1 billion in the final quarter of 2022 to just $3.8 billion amid a “crisis of confidence” in the sector following FTX’s collapse.
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