Market Recap – September 16th
At Friday’s close, major indices had fallen ahead of investors’ predictions for the Fed’s plan of attack this week. The S&P 500 was down 0.72% to 3,873, threatening the 3,900-support level. Both the Nasdaq Composite and The Dow Jones were down 0.90% and 0.45%, respectively. At the top of the midday news, however, was FedEx, which significantly dropped around 21.4% after weakened demand in global shipment volumes prompted them to post disappointing preliminary earnings. Uber’s stock price also took a dip, going down 3.6% after they had cybersecurity issues, referencing a hacker that took control of Uber’s internal systems through an employee’s compromised Slack account.
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.