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Aug. 31, 2022, 12:12 p.m. EDT

CBOE's Weekly Market Recap: August 15 To August 19

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Aug 31, 2022 (TheNewswire.ca via COMTEX) -- (via NewsDirect)

After four weeks of bullish action, it appears the market may be reaching the height of its rally.

Experts from BlackRock Inc. /zigman2/quotes/207946232/composite BLK -1.04% and JPMorgan Chase & Co. /zigman2/quotes/205971034/composite JPM +1.66% have been warning the public that the rally experienced in the last month is bound to be met with resistance soon, a premonition they attributed to worsening global economic conditions.

SPDR S&P 500 ETF Trust (nysearca:SPY) has, perhaps, begun validating these beliefs, declining 1.16% last week and starting off Monday by gapping down more than 1%. Cboe Global Markets Inc. (bats:CBOE) reports that European exchange-traded funds (ETFs) like the iShares Core MSCI Europe ETF (nysearca:IEUR), iShares Core DAX UCITS ETF (bit:EXS1) and Lyxor CAC 40 ETF (epa:CAC) have all experienced price drops last week, too.

Cryptocurrency leaders Bitcoin (crypto:BTC) and Ethereum (crypto:ETH) have mirrored the equities market, each declining more than 10% last week. Exemplifying the market's downturn is Zoom Video Communications Inc. /zigman2/quotes/211319643/composite ZM -1.47% , this week's chart of the week following a disappointing earnings report.

Finally, Cboe notes upcoming earnings that may lift investors' eyebrows in the week to follow.

  • The SPDR S&P 500 ETF decreased by 1.16% last week, hinting at a potential top following a strong rally throughout June, July and the first half of August.

  • The Invesco QQQ Trust Series 1 /zigman2/quotes/208575548/composite QQQ -0.80% increased by 2.28% last week, following suit with the SPY's overall movements.

  • The iShares Russell 2000 ETF /zigman2/quotes/209961116/composite IWM +0.38% rose by 2.85% last week, the highest increase among the three exchange-traded funds recorded in this series.

  • The Cboe Volatility Index(TM) (indexcboe:VIX) decreased by 0.15% last week.

  • The iShares Core MSCI Europe ETF (nysearca:IEUR) decreased by 3.69% week-on-week.

  • The iShares FTSE 100 UCITS ETF /zigman2/quotes/203510042/delayed UK:ISF +0.50% increased by 0.81% week-on-week, showing unusual strength.

  • The iShares Core DAX UCITS ETF (bit:EXS1) decreased by 1.86% week-on-week.

  • The Lyxor CAC 40 ETF (epa:CAC) decreased by 0.98 % week-on-week.

Shares of telecommunications company Zoom Video Communications tumbled following an earnings report that surprised Wall Street analysts.

On Aug. 22, the company reported an earnings per share (EPS) profit of $1.05, a figure 10% greater than consensus estimates. The positive EPS figure, however, was eclipsed by the company's revenue miss, which saw it record $1.099 billion instead of the $1.116 billion estimate.

The small deviation -- amounting to 1.45% -- was enough to drive the company's stock from $97.44 a share to $84.56 on the next day's open, a 13% decline overnight.

Since its height in October 2020, the company's stock has fallen a whopping 86%.

  • Bitcoin decreased by 11.48% last week following weeks of upward momentum. The cryptocurrency remains in a downtrend on the weekly and daily charts.

/zigman2/quotes/207946232/composite
US : U.S.: NYSE
$ 713.67
-7.51 -1.04%
Volume: 538,866
Nov. 29, 2022 3:49p
P/E Ratio
19.63
Dividend Yield
2.74%
Market Cap
$108.32 billion
Rev. per Employee
$988,424
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 136.59
+2.24 +1.66%
Volume: 5.36M
Nov. 29, 2022 3:50p
P/E Ratio
11.52
Dividend Yield
2.93%
Market Cap
$394.08 billion
Rev. per Employee
$512,134
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/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 70.54
-1.05 -1.47%
Volume: 3.61M
Nov. 29, 2022 3:50p
P/E Ratio
30.96
Dividend Yield
N/A
Market Cap
$20.93 billion
Rev. per Employee
$640,420
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/zigman2/quotes/208575548/composite
US : U.S.: Nasdaq
$ 280.45
-2.26 -0.80%
Volume: 31.92M
Nov. 29, 2022 3:50p
loading...
/zigman2/quotes/209961116/composite
US : U.S.: NYSE Arca
$ 182.53
+0.69 +0.38%
Volume: 12.08M
Nov. 29, 2022 3:50p
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/zigman2/quotes/203510042/delayed
UK : U.K.: London
737.20 p
+3.70 +0.50%
Volume: 3.66M
Nov. 29, 2022 4:35p
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