Price declines seen in the equities market have been mimicked in trends on the cryptocurrency scene.
EQS-News: Cboe Global Markets, Inc.
CBOE's Weekly Market Recap: Sept. 12-16
23.09.2022 / 14:00 CET/CEST
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Last week, the SPDR S&P 500 ETF (NYSEARCA: SPY) experienced its third-largest decline since January, ushering in a wave of selling and bearish sentiment.
A series of macroeconomic figures seem to have exacerbated the selling last week, including a worse-than-expected consumer price index (CPI) report and an increase in the federal budget debt.
Cboe Global Markets Inc. (BATS: CBOE) reports that all the exchange-traded funds (ETFs) and indices recorded in this series have experienced a price decline last week. This finding perhaps indicates economic weakness extending onto a global scale.
Price declines seen in the equities market have been mimicked in trends on the cryptocurrency scene. Both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) experienced a price decline greater than 9% last week, leading investors to wonder whether the bottom has finally been reached.
BJ Wholesale Club Holdings Inc. (NYSE: BJ) wins chart of the week, following a series of earning reports over the past few quarters that showed accelerated earnings and revenue. In 2022, the stock has risen 50% since its low in May.
Finally, Cboe notes earnings reports that may raise investors’ eyebrows in the following week.
Quick BitesExchange-Traded Funds
Chart Of The Week: BJ
Shares of BJ Wholesale Club Holdings Inc., an American membership-only warehouse club chain, have been steadily rising over the past couple of months, showing strength in a weak market.
Over its last three earnings reports, BJ has had three consecutive quarters of accelerated earnings. On March 3, May 19 and August 18, BJ reported earnings per share (EPS) of 8 cents, 87 cents and $1.06 respectively. Despite a slight negative surprise in reported revenue on March 3, BJ’s revenue has largely tracked its earnings acceleration, recording $4.496 billion and $5.10 billion on May 19 and Aug 18, respectively.
Popular growth investors Willaim O’Neil and Mark Minervini have long championed bear markets for their abilities to introduce new market leaders. According to these investors, strong candidates typically demonstrate upward trends and challenge their 52-week highs as the market continues to drop.
BJ currently meets these two categories and is supported by three consecutive weeks of earnings acceleration.
Upcoming Earnings Releases
A number of companies report earnings next week, including:
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23.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
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1449151 23.09.2022 CET/CEST