The three major indexes slid to begin a pivotal week for investors.
 | MON, JUL 11, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 144.87 | -2.17 | -1.48% | | INTC | 37.20 | -0.79 | -2.08% | | MSFT | 264.51 | -3.15 | -1.18% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 76.95 | -2.40 | -3.02% | | TWTR | 32.65 | -4.16 | -11.30% | | AAPL | 144.87 | -2.17 | -1.48% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 76.95 | -2.40 | -3.02% | | AAPL | 144.87 | -2.17 | -1.48% | | AMZN | 111.75 | -3.79 | -3.28% | |
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Stocks kicked off a big week for economic data and quarterly results on a sour note. The S&P 500 lost 1.15% as investors braced for the start of corporate earnings season and June's consumer price index report for more clues into the health of the U.S. economy. Tech shares took the brunt of Monday's losses, with Twitter plummeting 11.3% after Elon Musk canceled his deal to buy the social media company. Earnings season kicks off Tuesday with results from PepsiCo. This time, investors are closely watching guidance and how stocks react to comments from management. |
Last earnings season saw some companies experience huge drops in their share price following quarterly results. The decline continued for a number of stocks. Adam Sarhan, CEO at 50 Park Investments points to names like Netflix, which collapsed 35% in one day on the back of disappointing subscriber numbers. Shares of the streaming company have kept on falling since then. "We've seen a series of just gap downs and then the stocks will get clobbered afterwards for the next few weeks and months, until the next quarter and they gap down again," he said. "I want to see that trend stop, and this is the quarter that it's going to make or break the bear slash bull market." |
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