Wednesday, the market was in decline after earnings from Tesla, Visa, and Google were not enough to keep investors from selling. Shortly after 4 pm ET, the $S&P 500 Index (.SPX.US)$ fell 2.32%, the $Nasdaq Composite Index (.IXIC.US)$ fell 3.64% . The $Dow Jones Industrial Average (.DJI.US)$ 1.25%.
2600 equities were in the green, and 8900 declined.
In macro, PMI numbers came out Wednesday morning, about 20 bips higher than estimated at 55.3 vs 55.1. Last month, the index was at 54.8, so prices producers paid climbed in July.
This week in macroeconomic news, investors are awaiting PCE results on Friday. Investors will watch for lesser inflation gauge indexes throughout the week. Quarterly GDP estimates for the second quarter will arrive on Thursday, one of the largest inflation indicators.
Tuesday, existing home sales for June came in at 3.8M, about .1M lower than estimated.
Yesterday, users said that Tesla would bust and miss earnings, and many of you were right! One user said in the long term, there is nothing to worry about.
Traders, what are you watching today? Comment below and I will share it with moomoo tomorrow!
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