Stocks Eye Dismal Close to Q2, First Half of 2022

Investors have plenty of economic data to sift through today

Digital Content Manager
Jun 30, 2022 at 12:11 PM
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The Dow Jones Industrial Average (DJI) is down 263 points at midday, while the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are also firmly in the red. The S&P 500 is set to notch its worst first half of the year since 1962, while the Dow and Nasdaq aren't faring much better as they stare at steep losses of their own. The second quarter is also coming to a close, with the Dow and S&P eyeing their biggest quarterly drop since the first quarter of 2020, while the Nasdaq is looking at its worst quarter since 2008.

Meanwhile, investors are sifting through plenty of economic data. The Federal Reserve's favorite inflation gauge -- the core personal consumption price index -- rose 4.7% in May. Meanwhile, the Chicago purchasing managers' index (PMI) came in at a slightly lower-than-expected 56.

    Continue reading for more on today's market, including:

    • Top- and bottom-line beat boost Acuity Brands stock
    • Why this retail stock got slammed with bear notes. 
    • Plus, options bears ramp up bets on HTZ; RPID surges on buyout buzz; and RNLX bottoms out.

    midday market stats june 30

    Hertz Global Holdings Inc (NASDAQ:HTZ) is seeing a surge in bearish options activity today. At last glance, 13,000 puts have exchanged hands, which is 17 times the intraday average, as opposed to 5,566 calls. The August 15 put is the most popular, followed by the September 15 put, with positions being opened at the former. HTZ was last seen down 4.3% at $16.33, and is set to register a more than 26% quarterly drop, should today's losses hold. 

    One of the best performing stocks on the Nasdaq today is Rapid Micro Biosystems Inc (NASDAQ:RPID). The security was last seen up 38.1% to trade at $4.39, after Kennedy Lewis Investment Management made an offer to buy RPID for roughly $209.7 million, or $5 per share, which is a 57.2% premium to the stock's last close. RPID remains down 59.4% in 2022, but looks set to clear its 50-day moving average for the first time since March. 

    rpid june 30

    Renalytix PLC (NASDAQ:RNLX) is one of the worst performing stocks on the Nasdaq today, last seen down 43.8% at $2.23, after the company posted a widened loss for its fiscal third-quarter due to higher costs. The stock has seen near continuous downward movement since a late-October rally, led lower by the 40-day moving average. What's more, today's drop has RNLX trading at its lowest level on record, while carrying a 92.8% year-over-year deficit. 

     

     

     

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