STOCK MARKET WATCH -- Friday, 17 June 2022

[Tansy_Gold]

STOCK MARKET WATCH, Friday, 17 June 2022

Previous SMW:
SMW for 16 June 2022




AT THE CLOSING BELL ON 16 June 2022



Dow Jones 29,927.07 -741.46 (2.42%)
S&P 500 3,666.77 -123.22 (3.25%)
Nasdaq 10,646.10 -453.06 (4.08%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[Tansy_Gold]

1. Juneteenth Holiday on Monday!

See y'all back on Tuesday!

[bucolic_frolic]

2. Assets being repriced by meltdown, or US dollar being diluted by latent QE effects?

Stocks catching it from all sides. But as the KSS takeover last week witnessed, assets can become cheap and desirable. I see dozens of tech companies in a meltdown, and some of them only related to tech. It's been said that the next 10 years will be the era of growth in software companies, but to me they're just a representation of reality built to squeeze inefficiencies out of stocks, they don't have that much power themselves. Of course, I've been wrong before.

LEN INTC ABT MU NKE DIS all down at least 15 points over about 2 weeks ago. 15 points. Grab the short side of that.

High dividend stock ETFs beaten up with high yields (some dividend reduction in some companies will happen), and energy companies and their runup are frequently a component.

[progree]

3. S&P 500 closed down 3.25%, Dow down 2.42% (741 points), Nasdaq down 4.08%

If the Dow had fallen by the same percentage as the S&P 500, it would be down 995 points!

S&P 500 now down 23.6% from its Jan 3 all-time high. Its at 3667.

The last close before Inauguration Day was 3799, so its down 3.5% from that point.

https://finance.yahoo.com/news/stock-market-news-live-updates-june-16-2022-114840208.html
Stocks slide to lowest since Dec. 2020 amid renewed recession concerns, Emily McCormick, Yahoo Finance, 6/16/22

The headline is referring to the S&P 500. The Dow closed at its lowest since January 2021, and closed below 30,000 for the first time since January 2021.

[bucolic_frolic]

4. Internals advance/decline and 10 week overall stats some of the very worst since 1928

My take is privatization of concentrated wealth has bought up all the growth ideas and left no growth in the broad markets. This is what follows from a period of cheap money Fed policy. Every idea became a business when capital was, essentially, free! Now the cost of capital of those businesses is rising, and consumerism is pinched and can't buy output as much. And many startups still lack a revenue generating product.

Hunker down, DUers! Whatever that means for you.