10/05/2022 13:33
Coming back in sight for Wall Street, in the aftermath of yet another bloodbath. At 1.30pm Italian time, futures on the Dow Jones rose by 0.55%, an increase of 170 points; futures on the Nasdaq are up by more than + 1%, those on the S&P 500 are up by 0.66%.
Yesterday the fear (now panic) of further flares of inflation caused the Dow Jones Industrial Average to drop by 1.99% (-653 points), the S&P 500 by 3.2%, and the Nasdaq Composite by 4.29. %.
In intraday lows, the S&P 500 index slipped below the psychological threshold of 4,000 points, to 3,975.48, the lowest since March 2021 and 17% below the record of the last 52 weeks.
The Nasdaq is traveling more than -27% lower than the last record of the last 52 weeks.
The sell-offs hit hi-tech stocks above all: Meta Platforms and Alphabet lost -3.7% and -2.8% respectively, while Tesla capitulated by over -9%.
Headlining at the moment in the pre-market is Peloton’s thud after the balance sheet results of the New York indoor fitness company, which indicated an increase in loss to $ 757.1 million, or $ 2.27 per share, compared to a net loss of $ 8. 6 million, or 3 cents per share, in the first quarter of 2021.
Liabilities per share were worse than the 83 cents red estimated by analysts.
Revenue stood at $ 964.3 million, up from $ 1.26 billion in the first three months of last year and worse than the estimated $ 972.9 million. The stock sinks 25% on Wall Street.