- Salesforce was the biggest decliner yesterday after giving up 7.35% As things stand, Paycom (down 7.18%) and Albemarle (down 6.7%) are underperforming today
- Asia-Pacific markets are currently lower as trading gets underway.
Before today's session: leading equity indices in the US declined as S&P 500 was down 1.79% before closing the session at 3,999. Dow Jones shed 1.4% and closed at 33,947.
US markets are now currently closed and set to reopen today; meanwhile, Asia-Pacific markets are down as KOSPI Composite Index is down by 0.57%, slides down to 2,405.56 European markets ended a mixed session yesterday whilst CAC slumps to 6,697 (down 0.67%).
Amid the market gloom, United States ISM Non-Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 56.5, while the previous figure was 54.4. United States Factory Orders beat analyst expectations of 0.7% and the previous reading of 0.3% with new data of 1%. United States ISM Non-Manufacturing Employment (Nov) came out at 51.5.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims projected to decline to 230,000 while previous data was 225,000; data will be released Thursday.
In addition, United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million. It previously stood at -12.58 million; data will be released tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook will be released today at 17:00 UTC.
Yesterday's bearishness affected individual stocks as Salesforce lost 7.35% yesterday before closing at $133.93. Paycom (down 7.18%), Albemarle (down 6.7%) also underperformed yesterday.
Bearish mood pushes Albemarle to session low of $265.12
Early in yesterday's session, Albemarle Corp dropped to $265.12 from $284.28 at the end of Friday, before closing at $265.23. During the session, it lost 6.7%.
Albemarle's market cap currently stands at $31 billion with an average daily volume of 1.51 million shares. The S&P 500 has been doing worse in 2022, it has been passing it by 39.71%.
Salesforce ended the session at $133.93, continuing its bearish run
Yesterday's session continued the recent downtrend: Salesforce shed 7.35%, falling to $133.93. The company's market cap is $133.93 billion with an average daily trading volume of 8.92 million shares. So far in 2022, it has been under-performing the Dow Jones by 35.75%.