Markets tried to climb into positive territory several times during Wednesday’s trading session.
But in the end, sellers held the line.
The indexes all posted losses again…
- Dow Jones -0.5%
- Nasdaq -1.2%
- S&P 500 -0.7%
- Russell 2000 -0.9%
Sector Round Up
Buyers had favorites, sending 4 of 11 sectors into a green close.
At the top…
- Energy (XLE) +1.3%
- Real Estate (XLRE) +0.2%
- Utilities (XLU) +0.2%
Risk-on stocks held the bottom…
- Communications (XLC) -1.1%
- Consumer Discretionary (XLY) -1.2%
- Technology (XLK) -1.3%
Who’s Buying Second Hand?
Two marketplaces for second-hand goods popped higher after reporting “narrower net losses than analyst expectations.”
- The RealReal (REAL) +15%
- ThredUp (TDUP) +26%
Both platforms are tweaking their systems to attract higher-end customers.
- The average order value is growing
- Though demand appears stagnant
- Combined, the companies added $118 million in market cap on Wednesday
If you’ve been active over the past few weeks, it’s felt like a major drawdown.
So zoom out and look left….
The S&P 500 hasn’t broken a single notable support level. And futures are notably higher this morning after closing at support yesterday.
Seasonal weakness is sending prices marginally lower.
But it’s not creating fear or panic.
Your latest readout…
This morning at 8:30, the latest headline inflation numbers drop.
The CPI report is expected to show continued cooling.
Secondary watchlist—float 100+ million
KTOS support at $16
RKT support at $11
BGC support at $5
FOLD support at $13.50, resistance at $14