Wall Street Update: Stock prices dropped in overnight trading

Oct 13, 2021 | Shaoni Ghosh

Wall Street Update: Stock prices dropped in overnight trading title banner

The marketing arena is solely dependent on scrutinizing, evaluating, surveying and measuring the market necessities. It deals with the management of the core foundation of the ups and downs of the market in terms of its performance.


It tends to assess the current stature of one's marketing ambitions and through an analytical view of the market, it shall propel one to decide how to invest.


(Must Check: Marketing Analytics - An Overview)


The Sudden Drop


To begin the week, the market has already experienced its downs with respect to the blue-chip Dow Jones Industrial Average discharging almost 250 points (250.19 points to be exact). 


Even the S&P 500 dropped 0.7% to 4,361.19 this Monday. After S&P 500 has suffered a 4.8% loss in the month of September, it has now been rising upwards more than 1% for the month of October and posits itself 4% for the record.And nine out of the eleven sectors have already put forward their experiences of the losses they have suffered. 


The Nasdaq Composite dipped 0.6 percent to 14,486.20. The U.S. stock market dropped to begin the week in total. It is so because investors weighed overflowing oil prices, economic issues and others.


(Also Check: Introduction to Stock Market Analysis)


The managing director of trading at E-Trade Financial, Chris Larkin stated that there are a lot of hurdles that may impede the progress, while they try to step into "corporate earnings" and that, traders will keep looking for any kind of guidance. 


He also added that with the surge in new data and as soon as the traders get access to some potential information related to growth opportunities, "it may be wise to prepare for more bumps in the road."


As reported by CNBC, JPMorgan Chase is ready to "kick off the third quarter earnings season" this week.It is expected that the growth of earnings will expand about 30 percent year over year this quarter and it will be followed by an expansion of 96.3% in the second quarter.


And the expectations related to the third quarter earnings will be announced as well in recent weeks, which shall create a stir in the market, as stated by the managing director at UBS Private Wealth Management Rod Von Lipsey, with its "upside surprises".


The recent employment data will be surveyed by the investors. The economists who went recorded their opinion by Dow Jones believe that there will be 10.9 million job openings in August.


The future of the stock market dropped in overnight trading, as soon as Wall Street ended the week on a not-so-sweet note. The stock futures ended up in the negative territory and the market had to undergo the hurdles on its September ride, as mentioned.


(Recommended Blog: 6 Basic Trading Principles)


Now, Wall Street major strategists are observing muted returns for the rest of the year, because if evaluated at the average year-end of S&P 500 target, it counts to 4,433, less than 2% from Monday’s close.

Tags #Business