Pessimistic mood enables market slide

Pessimistic mood enables market slide
  • Canopy Growth Corporation and Adobe the latest companies to report earnings for Q1
  • SoFi Technologies was the biggest decliner after giving up 9.95% yesterday
  • CAC climbs to 7,388.65 (up 1.34%).

Yesterday's market activity meant that leading equity indices in the US declined as after dropping 0.68%, Nasdaq closed at 13,700. S&P 500 slipped 0.37% and closed at 4,409.59.

Trading in the US will continue Monday in around a day time, meanwhile upbeat European markets ended yesterday higher as CAC is up by 1.34%, hitting 7,388.65. Asia-Pacific markets closed higher yesterday whilst ASX 200 increases by 1.06%, reaching 7,251.2.

The earnings season is coming to an end and Canopy Growth Corporation and Adobe have release their reports.

Market's down-tick coincides with some negative macro data published earlier as United States Initial Jobless Claims fell short of the 250,000 projections, with new data of 262,000.

Markets are trading lower today despite some positive data published earlier as highly important Retail Sales data from United States beat analyst expectations of -0.1% with a reading of 0.3%.

Meanwhile, United States Philadelphia Fed Manufacturing Index (Jun) released Thursday with a figure of -13.7, while the previous figure was -10.4.

While markets are generally down so far today, some assets outperformed such as nCino gained 24.47% to reach $31.69. Coherent (up 7.02%) is also performing well.

Yesterday's bearishness meant that SoFi Technologies lost 9.95% yesterday before closing at $8.6.

NCino | -24.47% yesterday including 2.97% gain in aftermarket trade

  • The cloud-based banking software developer now trading 46.24% above its 3-month low of $21.29.
  • NCino has posted further gains as part of a 3 day trend that has already seen the stock gain $1.44.

The past 3 months have been positive for the financial technology company as it added 46.24% compared to its 3-month low of $21.29. Currently, the cloud-based banking software developer has a market capitalization of $3.56 billion with an average daily volume of 1.33 million shares. NCino last reported revenue of $113.67 million with an EPS of -18 cents.

SoFi Technologies | Closed down 9.95% at $8.6 yesterday

SoFi Technologies has lost 11.7% over the last 3 days. Yesterday's session continued down the same path: after ending Thursday at $9.55, SoFi Technologies declined to $8.5 yesterday before closing at $8.6, thereby losing 9.95% in total. Daily trading volume (106.46 million shares) increased, making up 148% of the 21-day average (72.14 million).

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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