September is historically the most difficult month of the year for the stock market and this year was no different. Today the S&P 500 lost another 1% bringing the loss for the month to nearly 5%, its worst month since March of 2020.
At the close:
Dow -546 to 33844
S&P 500 -52 to 4307
NASDAQ -64 to 14448
Oil +.26 to 75
Gold +34 to 1755
In corporate news shares of Bed, Bath & Beyond lost 23% of their value today after the company slashed its revenue and earnings outlook citing supply chain challenges and a sharp decline in customer traffic. Kohls dropped 12% after Bank of America double downgraded the shares from buy to underperform. Carmax has had a strong year but lost 12% today after reporting earnings for the most recent quarter 10% below what most were expecting. Virgin Galactic gained 12% after the FDA cleared the company to resume launches after their July 11th incident.
U.S. stocks closed up today as the market bounced back...
U.S. stocks closed lower today with equities resuming a downward...
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