Afternoon Note
By Karina Hernandez, Senior Research Analyst
7/20/2022 1:43 PM
Major indices pared gains after the news came out that Google (GOOGL) will pause its hiring for the rest of the year. The market is seeing the same reaction as similar news from Apple (AAPL) from Monday.
Regardless, all major indices continue to be above its 50-day moving average, although off the highs.
Netflix (NFLX) is providing support on the growth side and making Communication Services the best performing sector.
|
S&P 500 Index |
+0.52% |
|
|
Communication Services XLC |
+1.22% |
|
|
Consumer Discretionary XLY |
+1.10% |
|
|
Consumer Staples XLP |
-0.69% |
|
|
Energy XLE |
+0.26% |
|
|
Financials XLF |
-0.23% |
|
|
Health Care XLV |
-0.83% |
|
|
Industrials XLI |
+0.31% |
|
|
Materials XLB |
-0.35% |
|
|
Real Estate XLRE |
-0.24% |
|
|
Technology XLK |
+1.15% |
|
|
Utilities XLU |
-0.55% |
Don’t look now, but there are serious cracks in the housing boom. Mortgage applications dropped to a 22-year low. Existing home sales for last month swooned down 5.4%, the street was looking for a more modest decline of 1.1%.
If the Fed is looking to curb the wealth effect, it has to bust the housing boom.
Tesla (TSLA) reports after the close, the stock has rallied twice on the same day they reported in the last six quarters.
|
Earnings Stock Reaction TSLA |
1 Week |
1 Day |
|
4/20/22 |
-10.4% |
+2.5% |
|
1/26/22 |
-3.3% |
-11.5% |
|
10/20/21 |
+20.1% |
+3.4% |
|
7/26/21 |
+8.2% |
-1.7% |
|
4/26/21 |
-6.8% |
-4.2% |
|
1/27/21 |
-1.7% |
-3.9% |
| Tweet |
Log In To Add Your Comment
| 8/15/2022 1:03 PM | Housing Recession |
| 8/15/2022 9:37 AM | THE BOUNCE THAT WANTS TO BE A BOOM |
| 8/12/2022 1:50 PM | Winning Week |
| 8/12/2022 9:46 AM | SHOOTING STAR SIGHTING |
| 8/11/2022 2:14 PM | Markets Resolving |
| 8/11/2022 9:40 AM | MARKET CELEBRATES CPI |
| 8/10/2022 1:38 PM | Market Celebrating |
| 8/10/2022 9:48 AM | THAT KNOT IN YOUR STOMACH IS REAL |
| 8/9/2022 1:43 PM | Recession Ahead? |
| 8/9/2022 9:19 AM | SMALL-CAPS BASK IN THE SUN |
| 8/8/2022 1:20 PM | Retail is Back |
| 8/8/2022 9:40 AM | Small Caps Flexing Muscle |
| 8/5/2022 1:27 PM | Musing Out Loud |
| 8/5/2022 9:37 AM | THE FED FEELING BLUE |
| 8/4/2022 2:09 PM | BINGO |
| 8/4/2022 9:30 AM | Fed Shows True Colors |
| 8/3/2022 1:49 PM | Market Took Off |
| 8/3/2022 9:44 AM | WARRIORS…COME OUT AND PLAY |
| 8/2/2022 1:19 PM | Anxiety Easing |
| 8/2/2022 9:36 AM | WAVES OF BAD ECONOMIC DATA CAN’T BE IGNORED…OR DENIED |
| 8/1/2022 1:40 PM | Contraction Continues |
| 8/1/2022 9:26 AM | Thanks July…Now What About August? |
| 7/29/2022 1:33 PM | Tipping the Scale |
| 7/29/2022 9:44 AM | COULD A RECESSION BE OVER BEFORE IT STARTED? |
| 7/28/2022 1:12 PM | Shake The Trend |
| More commentary archives | |
|
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|