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Stocks Are Down in Choppy Session as Markets Digest Fed, Earnings

July 20, 2023
in Trade Tube
Reading Time: 1 min read
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It’s a choppy session with the S&P 500 and Dow Jones Industrial Average lower in midday trading Thursday. Volatility was triggered by the market digesting a range of earnings from Alcoa (AA) to Walgreens (WBA) and following unexpectedly divided opinions on rate hikes in the Fed’s March minutes. Bed, Bath & Beyond (BBBY) was the worst performer on the S&P 500, down more than 5%. The home-wares retailer reported an in-line fourth quarter, while comparable-store sales grew at a slower-than-expected pace. Zynga dragged on the Nasdaq on news founder and Chairman Mark Pincus would be back as CEO. Current CEO Don Mattrick had been at the helm less than 2 years.

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