December 8, 2022

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Wall Street is falling from the start - E24

Wall Street is falling from the start – E24

On the first trading day of this week, the three leading indices on Wall Street fell.

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Wall Street fell from the start on Tuesday. In 1715 they look like this:

  • The Dow Jones Industrial Average fell 2.17 percent
  • The technology-heavy Nasdaq fell 1.05 percent
  • The broad S&P 500 index fell 2 percent

A barrel of North Sea oil is trading at $104.5 two hours after it opened on Wall Street on Tuesday. Thus, the price of oil is down 8.51% on the day.

Shares of oil companies such as Chevron fell 4.3 percent and Exxon Mobil 4.1 percent.

stagnation of fear

Investors write worried after a bad half year, some fear recession CNBC.

Credit Suisse’s Jonathan Globe isn’t worried.

Recession is characterized by increased unemployment and the inability of consumers and businesses to meet their financial obligations. Golub wrote according to CNBC

Tesla arrow straight down

Electric car maker Tesla, on Saturday, provided figures for the months of April, May and June, showing that Elon Musk delivered 254,695 electric cars during this period.

According to international media, this was lower than analysts had previously expected. And Reuters news agency wrote that the forecast was 295,078 cars, according to Refinitiv figures.

US CNBC wrote that analysts expected 256,520 vehicles to be delivered, according to FactSet numbers.

Tesla shares fell 2.67 percent.

Results season awaits

Investors are now preparing for the upcoming earnings season.

Consensus estimates for 2022 and 2023 remain largely unchanged since the start of the year, although stock prices have fallen significantly since then, notes Greg Marcus, chief executive officer of private wealth management at UBS, to CNBC Friday.

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But he believes new signals from companies could lead to changes:

Poor guidance could eventually lower earnings estimates, which could put more pressure on stocks.