Commodities & Agriculture:
Brent crude (UKOIL) futures fell $4.75, or -4.84%, to $93.40 a barrel by 1201 GMT after settling 1.5% down on Friday.
U.S. West Texas Intermediate crude (USOIL) was down $4.52, or -4.91%, at $87.57 after dropping 2.4% drop in the previous session.
Forex:
- The U.S. dollar index against six peers rose +0.6% to 106.3, consolidating near the middle of its range this month.
- British pound (GBP) also fell -0.55% against the dollar to $1.2068.
- AUD/USD fell -0.5% to 0.7084.
- NZD/USD dropped -0.6% to 0.6411.
- EUR/USD fell -0.2% to 1.0237, weighed by concerns that the continent’s energy crisis, soaring inflation and the European Central Bank lifting interest rates will drag the Eurozone into recession later in the year or early in 2023.
- USD/JPY fell -0.1% to 133.36.
Cryptocurrency:
- Cardano, Solana and Polkadot dropped more than 3% over the past 24 hours
- Bitcoin was trading above $24,600 at time of writing, flat over the past 24 hours.
During Market hours Friday — (Friday – 12.08.2022):
- The Dow (Symbol: DIA) went up +1.23%. The S&P 500 (Symbol: SPY) gained +1.69% and the Nasdaq (Symbol: QQQ) rose +1.95%.
- Peloton (Symbol: PTON) — Shares of Peloton jumped +6% after the company told employees it was cutting about 780 jobs, raising prices on some equipment and closing a number of retail stores.
- Illumina (Symbol: ILMN) — The gene-sequencing technology company dropped more than -9% after reporting lower-than-expected second-quarter profit and revenue. Illumina also issued an outlook that fell short of analyst estimates.
- New York Times (Symbol: NYT) — Shares of the newspaper fell -3%, retreating from a near 11% rally in the previous session. Thursday’s rally came after activist investor ValueAct Capital took a 6.7% stake, pushing the publisher to charge more for subscriber-only content.
- Toast (Symbol: TOST) — Shares of the payment tech company jumped more than +12% after it raised its earnings outlook for the year. The company also reported a loss for the latest quarter, but it was narrower than what analysts had anticipated.
- Poshmark (Symbol: POSH) — The online fashion retailer saw its shares tumble almost -10% after issuing weaker-than-expected revenue guidance for the current quarter. While it reported a loss in the second quarter, sales beat analyst expectations.
- Olo (Symbol: OLO) — The restaurant software maker plummeted -36% following a weaker-than-expected current quarter and full-year revenue outlook. Additionally, Olo second-quarter revenue missed expectations.
- LegalZoom (Symbol: LZ) – Shares rose nearly +22% after the online legal platform reported quarterly results after the bell on Thursday that beat analyst expectations. While second-quarter revenue climbed 9% year-over-year, the company reported a net loss of $13.2 million for the quarter.
- Six Flags (Symbol: SIX) – Shares of the theme park company started to recover an 18.7% loss on Thursday, up almost +14% on Friday. Six Flags posted second-quarter earnings that sharply missed expectations Thursday and was downgraded by Keybanc on Friday to sector weight from overweight.
During Premarket hours today – (Monday – 15.08.2022):
- Poshmark (Symbol: POSH) — Shares spiked more than +5% after Barclays upgraded the online fashion retailer to overweight from equal weight. Poshmark will get a boost from the fast-growing second-hand clothing marketplace, especially if consumers trade down in a recession, Barclays said.
- Vroom (Symbol: VRM) — Shares dropped more than -3% after JPMorgan downgraded the stock to underweight from neutral, saying that the online used car retailer will continue to see challenges amid a broader economic slowdown. Vroom has already plunged 80% this year.
- Revolve (Symbol: RVLV) — The stock fell more than -2% following a downgrade to underweight from equal weight from Barclays. The investment firm cited slowing revenue growth and tough comparisons at the clothing store company.
- Green Plains (Symbol: GPRE) — Green Plains declined more than -3% after Bank of America downgraded the stock to neutral from buy. The investment firm said the current valuation for the ethanol fuel producer is fair.
- Baidu (Symbol: BIDU), Alibaba (Symbol: BABA), Pinduoduo (Symbol: PDD) — Shares of Chinese internet companies declined following weak economic data from China. Baidu, Alibaba and Pinduoduo each dropped more than -1%.
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