Market Recap – June 16th
Markets are quite scared right now. Indeed, the infamous Fear & Greed Index is set at “extreme fear” as investors worry about a potentially incoming recession. Before the S&P 500 was trading above its moving average, however, nowadays the index is trading below this average, reflecting the skittish sentiment of investors.
Looking at specific stocks, we’re watching Revlon and Amazon. Revlon recently filed for Chapter 11 bankruptcy protection as it grappled with a cumbersome debt load and a snarled supply chain. Amazon has set its annual and popular “prime day” for July 12 and 13. The two-day sale will see major price cuts for popular items; if you are a prime member, you’ll have access to early deals beginning on June 21st.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.