Market Recap – May 19th
Yesterday markets continued their trend into the red with the average level of the S&P sitting on the brink of a bear market. The losses seem to be driven by sell pressure from investors dumping equities in light of the Fed’s rate hikes and rapid inflation. Looking at specific indexes, nearly all indexes made little to no gains by mid-day, and all in all, held their level. All in all, markets seem to be doing their best to claw out of a bear market.Crypto markets saw slight gains yesterday, recovering some of the losses from the day before.
Looking at more specific investments we’re watching Kohls and Paramount Group. Kohl’s is seeing a potential sale on the horizon, with the retailer slashing full-year outlook in light of missed earnings. The Paramount group saw major gains – gaining 15% after Buffett’s Berkshire revealed their new stake in the company.
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.