Reply To: Traders Market Weekly: Fed, Inflation and Profit Warnings

#43747
TradersCom
Keymaster

Nine of the 11 S&P 500 sectors closed in the red.

Only health care (+0.6%) and financials (+0.3%) could squeeze out a gain
Health care sat atop the leaderboard thanks to Humana (HUM 497.24, +38.39, +8.4%), which traded up after raising its FY22 EPS guidance.

Energy (-2.5%), utilities (-2.5%), and information technology (-2.4%)
information technology was weighed down by Adobe (ADBE 309.13, -62.39, -16.8%) after participants reacted negatively to the company’s $20 billion cash-and-stock acquisition of Figma.
Energy stocks sold off as energy complex prices fell. WTI crude oil futures settled down 3.9% to $85.11/bbl and natural gas futures fell 8.6% to $8.31/mmbtu. These moves are being attributed to the news that a national railroad workers strike has been averted.