Wall street ends lower after run of weak economic data
2022-08-24 10:00uSMART

U.S. stocks closed lower on Tuesday as a run of downbeat economic data pressured markets. When the closing bell rang on Wall Street, the S&P 500 was down 0.2%, the Dow off 0.5%, and the Nasdaq Composite was flat



US Markets posted their third day of losses in the U.S as market participants await Fed outlook at Jackson Hole

EU Markets closed lower  after a rise in oil prices and fresh economic data alongside a 20-year low of the euro

Asia Markets mostly slipped as concerns over aggressive Fed hikes reemerged, but Chinese markets rose after China cut its benchmark lending rates



Golds rises as dollar, Treasury yields fall after weak U.S. economic data

WTI Crude Oil falls slightly as fears of imminent OPEC+ output cut recede



Xpeng misses on earnings and guidance. Its share price fell near to 11% overnight

JD.com posts slowest quarterly growth on record. However, share price rose 3.4% due to earnings beat

Intuit is 5.7% higher in the after trading hours due to earnings beat. Management remains upbeat and gives strong sales guidance for the current fiscal year

KE Holdings jumped 7% overnight after Q2 earnings beat. In terms of guidance, the company expects total net revenues to be between RMB 16.5 billion and RMB 17 billion for Q3

Toll Brothers fell 2% after hours. It cut outlook for home sales and deliveries due to unforeseen delays with municipal inspectors, continued labor shortages, supply chain disruptions, softer demand



Today’s Earnings:

  • Nvidia(NVDA)
  • Salesforce(CRM)
  • Snowflake(SNOW)
  • Autodesk(ADSK)
  • Splunk(SPLK)


Economic Calendar (24 Aug 2022)

  • Durable Goods
  • Pending Home Sales
  • Crude Oil Inventories



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