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Sept. 7, 2022, 8:51 a.m. EDT

CBOE's Weekly Market Recap: August 22 to August 26

By Jad Malaeb, Benzinga

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Chicago, Illinois, Sep 07, 2022 (News Direct via Comtex) -- --News Direct--

Macroeconomic conditions seem to have caught up with the world’s markets last week, causing a cascade of down-trending indices around the globe.

Cboe Global Markets Inc. (bats:CBOE) reports that all major indices and exchange-traded funds (ETFs) recorded in this series have, in the prior week, experienced downward trending price action. Since Federal Reserve Chairman Jerome Powell’s speech on Friday, the SPDR S&P 500 ETF Trust (nysearca:SPY) has fallen more than 5%. Most of the drop occurred on Aug. 26.

Global markets and top cryptocurrencies have reflected the downward pressure scene on the S&P 500. Europe’s iShares Core MSCI Europe ETF (nysearca:IEUR), for example, declined by 4.05% last week, and Bitcoin (crypto:BTC) dropped by 9.1%.

Providing a hint of optimism in last week’s market movements is Snowflake Inc. /zigman2/quotes/220991541/composite SNOW +4.37% . The company, led by CEO Frank Slootman, won chart of the week following a positive reaction to its recently released earnings report.

Finally, CBOE notes earnings that have occurred this week for investors to keep tabs on.

  • The SPDR S&P 500 ETF decreased by 3.99% last week, the ETF’s largest weekly decline since mid-June.

  • The Invesco QQQ Trust Series 1 /zigman2/quotes/208575548/composite QQQ +0.98% decreased by 4.78% last week, the most substantial decrease among the three exchange-traded funds recorded in this series.

  • The iShares Russell 2000 ETF /zigman2/quotes/209961116/composite IWM +0.63% decreased by 2.91% last week, following suit with its larger counterparts.

  • The Cboe Volatility Index™ (indexcboe:VIX) increased by 24.09% last week.

  • The iShares Core MSCI Europe ETF (nysearca:IEUR) decreased by 4.05% week-on-week.

  • The iShares FTSE 100 UCITS ETF /zigman2/quotes/203510042/delayed UK:ISF -0.22% decreased by 1.5% week-on-week.

  • The iShares Core DAX UCITS ETF (bit:EXS1) decreased by 4.27% week-on-week.

  • The Lyxor CAC 40 ETF (epa:CAC) decreased by 3.43% week-on-week.

Shares of cloud-based storage and data analytics company Snowflake Inc. skyrocketed following an earnings report that surprised Wall Street analysts.

On Aug. 24, the company reported an earnings per share (EPS) profit of $0.007. While this may not seem significant on its own, Wall Street analysts estimated that the figure would hover around negative $0.01, making this a 161.87% deviation from estimates.

With revenue reported at $497.248 million — 6.37% higher than consensus estimates — shares of the company gapped up 20% overnight. In a market that has declined rapidly since Snowflake’s reported earnings, the ticker remains one of the few tech-based projects experiencing upward momentum.

/zigman2/quotes/220991541/composite
US : U.S.: NYSE
$ 143.41
+6.00 +4.37%
Volume: 4.12M
Dec. 8, 2022 2:24p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$44.19 billion
Rev. per Employee
$466,037
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/zigman2/quotes/208575548/composite
US : U.S.: Nasdaq
$ 283.27
+2.74 +0.98%
Volume: 28.96M
Dec. 8, 2022 2:25p
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/zigman2/quotes/209961116/composite
US : U.S.: NYSE Arca
$ 180.67
+1.13 +0.63%
Volume: 12.61M
Dec. 8, 2022 2:25p
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/zigman2/quotes/203510042/delayed
UK : U.K.: London
732.60 p
-1.60 -0.22%
Volume: 985,904
Dec. 8, 2022 4:35p
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