Inventory trade right this moment (06.02.2): Well being insurers lead one other slide within the share value – Kiplinger’s Private Finance

Investors did not get a full respite from yesterday’s strong selling, but at least caught their breath in a quieter Thursday session as major indices posted modest losses.

The first New Year’s unemployment benefit data was a bit disappointing, with the Department of Labor reporting 207,000 initial claims for the week ending January 1, higher than estimates of 195,000.

Government bond yields also continued to climb, with 10-year yields hitting 1.75%, down from 1.68% yesterday; that boosted the financial sector (+ 1.5%), especially regional banking companies such as Fifth third bancorp (FITB, + 4.2%) and PNC financial services (PNC, + 3.9%).

In the other direction went the health insurers, which crashed as a group Human (HUM, -19.4%) drastically lowered membership growth expectations for Medicare Advantage products from 325,000 to 375,000 to between 150,000 and 200,000 members. Names including UnitedHealth Group (UNH, -4.1%), Cigna (CI, -3.8%) and anthem (ANTM, -4.1%) fell in sympathy.

The indices were far less loud. the Dow Jones industry average led the 0.5% decline to 36,236, while the S&P 500 (-0.1% to 4,696) and Nasdaq composite (-0.1% to 15,080) also slipped again.

Sign up for Kiplinger’s FREE weekly email letter for stock, ETF, mutual fund recommendations and other investment advice.

More news on the stock exchange today:

  • The small cap Russell 2000 rose by 0.6% to 2,206.
  • Gold futures collapsed 2% to finish at $ 1,789.20 an ounce after minutes of Wednesday’s final meeting of the Open Market Committee (FOMC) suggested the central bank might hike rates earlier than expected.
  • Bitcoin fell again 1.8% to $ 43,217.10 due to the unrest in Kazakhstan, the world’s second largest source of bitcoin mining. That mining was halted when Kazakh President Kassym-Jomart Tokayev ordered the national telecommunications provider to shut down internet service, causing numerous miners to go offline. (Bitcoin trades 24 hours a day; the prices reported here are as of 16:00)
  • Bed bath in addition (BBBY) rose 8.0% even after the home goods retailer announced dismal third quarter results. Over the three month period, BBBY posted an adjusted loss per share of 25 cents versus analysts’ consensus estimate that the company will break even per share. Overall, Bed Bath & Beyond achieved $ 1.88 billion, falling short of analysts’ expectations of $ 1.95 billion. Pour the salt on the proverbial wound, sales in the same store declined 10% year-over-year and the retailer lowered its full-year forecast to reflect ongoing headwinds in the supply chain.
  • MGM Resorts International (MGM) was up 3.0% after Credit Suisse analysts Benjamin Chaiken and Sarah Murray named Casino shares the “top pick” for 2022, an attractive capital structure (net cash position) and upward trends 2023 and an improvement in investor sentiment, “they wrote in a press release. With today’s pop, MGM stock is now up more than 46% on a 12-month basis.

A big year for energy is ahead?

The front runner today, however, were energy stocks (+ 2.2%), which were the best S&P sector in 2021 with a total return of 53% (price plus dividends) and are also ahead this year with a plus of 9.0%.

Thursday’s gains were due to crude oil futures rising 2.1% to $ 79.46 a barrel amid the aforementioned turmoil in major oil producer Kazakhstan, where protests over fuel prices have sparked broader anti-government unrest.

It’s a temporary tailwind for a sector where most of Wall Street was optimistic about heading into 2022 – though the pros had their own, longer-term reasons. In particular, an eventual full reopening of the global economy is expected to stimulate energy demand once the COVID has finally subsided, which should keep prices on the uptrend that started in 2021.

Today we offer the last of our 11 annual sector forecasts – our best energy stocks for 2022. The energy sector often moves uniformly, with a rising tide of high commodity prices usually moving most boats. But some stocks appear better positioned than others to turn those courses into shareholder gains in 2022.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Stellar

7 Kryptowährungen, die Ihr Geld im Jahr 2022 verdreifachen können – Motley Idiot Deutschland

Trotz Benchmark S&P 500 seine durchschnittliche jährliche Gesamtrendite im Jahr 2021 im Vergleich zu...

By wpadminsonic164
7 Greatest Cryptos to Purchase Heading as We Look In the direction of 2022 – InvestorPlace Stellar

7 Greatest Cryptos to Purchase Heading as We Look In the direction of 2022 – InvestorPlace

Cryptos are the future of money, with Bitcoin (CCC:BTC-USD) being one popular alternative. It does...

By wpadminsonic164
Gold Quintuple Stella May Over $ 2 Million At FUN US Cash Public sale – Coin Seller Publication Stellar

Gold Quintuple Stella May Over $ 2 Million At FUN US Cash Public sale – Coin Seller Publication

An exceptionally rare five-fold gold Stella could top $ 2 million if it is...

By wpadminsonic164
Deep Dive: NFT tasks had a stellar 2021 – The Every day Hodl Stellar

Deep Dive: NFT tasks had a stellar 2021 – The Every day Hodl

Second, NFTs eliminate delayed clearing and settlement functions. The processing delay can currently be...

By wpadminsonic164
Cade Cunningham indicators endorsement cope with BlockFi and receives signing bonus on Bitcoin – Yahoo Finance Stellar

Cade Cunningham indicators endorsement cope with BlockFi and receives signing bonus on Bitcoin – Yahoo Finance

Cade Cunningham made himself popular with fans in Stillwater, Oklahoma, with his outstanding game...

By wpadminsonic164
Hut 8 Attends BMO’s 2021 Know-how Summit, Crypto Mining Panel, on Aug 24, 2021 – Yahoo Finance Stellar

Hut 8 Attends BMO’s 2021 Know-how Summit, Crypto Mining Panel, on Aug 24, 2021 – Yahoo Finance

TORONTO, August 24, 2021 / CNW / - Hut 8 Mining Corp. (Nasdaq: HUT)...

By wpadminsonic164
Why the Stellar Improvement Basis Launched a New Account Mannequin – NewsBTC Stellar

Why the Stellar Improvement Basis Launched a New Account Mannequin – NewsBTC

The Stellar Development Foundation (SDF) has announced a new account model called Muxed via...

By wpadminsonic164
RxSeedCoin.io Declares WSOW Coin Itemizing on BitMart.com & BabySwap – Yahoo Finance Stellar

RxSeedCoin.io Declares WSOW Coin Itemizing on BitMart.com & BabySwap – Yahoo Finance

FORT WASHINGTON, MD / ACCESSWIRE / January 18, 2022 / Rx SeedCoin, Inc. (RxSeedCoin.io:WSOW),...

By wpadminsonic164

Latest Posts

Microstrategy is shopping for extra Bitcoin and now holds 124,391 BTC Bitcoin

Microstrategy is shopping for extra Bitcoin and now holds 124,391 BTC

Microstrategy, listed on the Nasdaq, has bought more Bitcoin for its corporate coffers. The...

By wpadminsonic164
Polkadot v1.0: Sharding and Financial Safety Polkadot

Polkadot v1.0: Sharding and Financial Safety

By Rob Habermeier, Polkadot founderThis post is about the technology powering Polkadot. Polkadot is...

By wpadminsonic164
Stellar

7 Kryptowährungen, die Ihr Geld im Jahr 2022 verdreifachen können – Motley Idiot Deutschland

Trotz Benchmark S&P 500 seine durchschnittliche jährliche Gesamtrendite im Jahr 2021 im Vergleich zu...

By wpadminsonic164
Polkadot

Why Binance Coin, Polkadot, and The Sandbox have been all down immediately – brinkwire

What happened Top cryptocurrencies Binance coin (CRYPTO: BNB), Speckle (CRYPTO: POINT), and The sandpit...

By wpadminsonic164
Why I beat the drum of the Cardano Lengthy-Time period Philosophy – Entrepreneur Cardano

Why I beat the drum of the Cardano Lengthy-Time period Philosophy – Entrepreneur

InvestorPlace - Stock News, Stock Advice & Trading Tips Investorplace.com - InvestorPlace Cardano (CCC:ADA-USD)...

By wpadminsonic164
Shiba Inu, Bitcoin, Ethereum, Dogecoin, BNB, Bitgert & Centcex – 3 information about these cryptocurrencies – Analytics Perception Dogecoin

Shiba Inu, Bitcoin, Ethereum, Dogecoin, BNB, Bitgert & Centcex – 3 information about these cryptocurrencies – Analytics Perception

Shiba Inu, Bitcoin, Ethereum, Dogecoin, BNB, Bitgert & Centcex - 3 facts about these...

By wpadminsonic164
Variety of ETH addresses with some ETH exceeded 71 million Ethereum

Variety of ETH addresses with some ETH exceeded 71 million

The number of ETH addresses holding some ETH Coins has reached 71 million and...

By wpadminsonic164
Bitcoin Breaks ALL-TIME-HIGH! Coinbase IPO Information + BTC, ETH, XRP, LINK, EOS and TRX Value Targets Videos

Bitcoin Breaks ALL-TIME-HIGH! Coinbase IPO Information + BTC, ETH, XRP, LINK, EOS and TRX Value Targets

Which cryptocurrency do you hold the biggest bag of? Let me know in the...

By wpadminsonic164