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Cboe's Weekly Market Recap: May 2nd To May 6th

Published 11/05/2022, 17:31
Updated 11/05/2022, 18:18
© Reuters.  Cboe's Weekly Market Recap: May 2nd To May 6th

Photo by m. on Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

The Federal Reserve’s decision to raise the interest rate by 0.5% in last week’s Federal Open Market Committee (FOMC) meeting was met with enthusiasm in the stock market, triggering a more than 10-point rise on SPDR S&P 500 ETF (NASDAQ: SPY (NYSE:SPY)). Unfortunately, this enthusiasm was short-lived. The SPY tumbled back to previous levels the following day, erasing the upward move and plunging further downward.

Cboe Global Markets Inc. (BATS: CBOE) reports a decline in a number of U.S. funds tracking major indices, including the Nasdaq 100 Index, the Russell 2000 Index and the S&P 500 Index. Similar weakness is observed in European stock markets, specifically in Germany’s DAX 30, France’s CAC 40 and Europe’s MSCI European.

Lisa Su’s Advanced Micro Devices Inc. (NASDAQ: NASDAQ:AMD) wins chart of the week following a strong reaction to a recently released earnings report.

Finally, Cboe notes important upcoming earnings that may lift investors’ eyebrows in the following week.

Quick Bites Exchange-Traded Funds

  • The SPDR S&P 500 ETF declined 0.16% last week, representing the fifth consecutive week of price depreciation.
  • The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) declined 1.28% last week, breaking below $320 for the first time since February last year.
  • The iShares Russell 2000 ETF (NASDAQ: IWM) declined 1.28% last week, recording its third consecutive week of price falloff.
  • The Cboe Volatility Index™ (INDEXCBOE: VIX) decreased 9.55% last week after failing to break above 35.

World Markets

  • The MSCI European ETF (NYSE: IEUR) declined 3.08% week-on-week.
  • The iShares FTSE 100 (LSE: ISF) declined 4.07% week-on-week.
  • The iShares DAX 30 (BIT: EXS1) declined 3.22% week-on-week.
  • The Lyxor CAC 40 ETF (EPA: CAC) declined 3.72% week-on-week.

Chart Of The Week: AMD

This photo was taken from the TradingView platform

Shares of the semiconductor company Advanced Micro Devices (AMD) climbed 7 points – 7.68% – in the aftermarket hours as a result of a strong earnings report surprise. The company’s earnings per share (EPS) stood at $1.13, a pleasant surprise for analysts who had placed the figure at $0.91. Similarly, AMD reported revenue of $5.88 billion, a nearly 20% higher figure than the estimated $5 billion.

AMD’s stock price has flirted with pre-earnings valuations, but it maintains a positive front, closing up 11.48% on the week amid overall market weakness.

Major Cryptos At the time of writing:

    • Bitcoin (CRYPTO: BTC) declined 10.93%, representing its sixth week of consecutive decline.
    • Ethereum (CRYPTO: ETH) declined 10%, representing its fifth week of consecutive decline.
  • Solana (CRYPTO: SOL) declined 15.46%, representing its fifth week of consecutive decline.

Upcoming Earnings And Catalysts May 9 AMC Entertainment Holdings Inc. (NASDAQ: AMC), BioNTech SE (NASDAQ: BNTX), Blink Charging Co. (NASDAQ: BLNK), Groupon Inc. (NASDAQ: GRPN), Novavax Inc. (NASDAQ: NVAX) Palantir Technologies Inc . (NYSE: NYSE:PLTR) and Upstart Holdings (NASDAQ: NASDAQ:UPST) report earnings on Monday, May 9th.

Earnings-per-share estimates stand at -$0.59, $9.17, -$0.41, $3.41, -$0.37, $0.04 and $0.53, respectively.

May 10 Coinbase (NASDAQ:COIN) Global Inc. (NASDAQ: COIN), Electronic Arts Inc . (NASDAQ: NASDAQ:EA), Hyatt Hotels Corp. (NYSE: H), Peloton (NASDAQ:PTON) Interactive Inc. (NYSE: PTON), Planet Fitness Inc. (NYSE: PLNT), Roblox Corp. (NYSE: RBLX), Sysco Corp . (NYSE: NYSE:SYY), Unity Software Inc. (NYSE: U) and Occidental Petroleum (NYSE: NYSE:OXY) report earnings on May 10th.

Earnings-per-share estimates sit at $0, $1.43, -$0.38, -$0.84, $0.27, -$0.18, $0.55, -$0.08 and $2.03, respectively.

According to Kiplinger, analysts, on average, are expecting Occidental Petroleum to report earnings of $2.03 per share in the first quarter versus a per-share loss of 15 cents in the year-ago period. Revenue is projected to jump 47.3% to $8.1 billion.

May 11 Beyond Meat Inc . (NASDAQ: NASDAQ:BYND), Bumble Inc. (NASDAQ: BMBL), Krispy Kream Inc. (NASDAQ: DNUT), Rivian Automotive Inc. (NASDAQ: RIVN), Toyota Motor Corp. (NYSE: TM), Wendy’s Co. (NASDAQ: WEN) and Walt Disney Co. (NYSE: NYSE:DIS) report earnings on May 11th.

The earnings-per-share estimates for each are -$0.94, -$0.04, $0.07, -$1.40, $2.46, $0.18 and $1.06, respectively.

Other notable earnings throughout the week include Aurora Cannabis Inc. (TSE: ACB), Duolingo Inc. (NASDAQ: DUOL), Honda Motor Co. Ltd. (NYSE: HMC) and Affirm Holdings Inc. (NASDAQ: AFRM).

Click here for more weekly insights by Cboe.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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