Market Recap – July11th
Stocks fell yesterday with investors positioning for high inflation readings and the start of an economically significant earnings season, which may provide clues on whether the economy is heading toward a recession. The market was pushed down by mega caps like Tesla and Apple which saw their lowest trading volume of 2022. Moreover, the 10-year US yields dropped below 3%.
Looking at specific investments, we’re watching Twitter and Wynn Resorts. Twitter fell during both premarket and during trading hours after Elon Musk announced late Friday that he was abandoning his $44 billion takeover deal. Wynn Resort dropped 6% in light of COVID spreading in Macau, a gambling enclave.
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.