Stocks in Disarray Six Months Into 2022

The tech-heavy Nasdaq saw its worst quarter since 2008

Digital Content Manager
Jun 30, 2022 at 4:31 PM
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The end of the first half and second quarter of 2022 delivered another death blow to Wall Street. The Dow and S&P 500 finished deep in the red to wrap up their worst quarter since 2020, the former also logging its worst month since March 2020. That wasn't all for the S&P 500 either, which logged its worst first half of the year since 1970. Meanwhile, the tech-heavy Nasdaq saw its worst quarter since 2008.

It's a familiar laundry list of headwinds plaguing investors right now; high inflation across the globe, aggressive interest rate hikes, recession fears, the Russia-Ukraine conflict, and China's recent Covid-19 lockdowns. Today's core personal consumption expenditures price index for May, which revealed a 4.7% rise, only reinforced some of those fears. 

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

The Dow Jones Average (DJI -  30,775.43) lost 253.9 points, or 0.8% for the day, 6.7% for the month, and 11.3% for the quarter. Travelers (TRV) led the gainers, adding 2%. Walgreens Boots Alliance (WBA) paced the laggards with a 7.3% drop.

The S&P 500 Index (SPX - 3,785.38) shed 33.5 points, or 0.9% for the day, 8.5% for the month, and 16.5% for the quarter. Meanwhile, the tech-heavy Nasdaq Composite (IXIC - 11,028.74) lost 149.2 points, or 1.3% for the session, 8.8% for the month, and 22.5% for the quarter. 

Lastly, the Cboe Market Volatility Index (VIX - 28.71) added 0.6 point, or 2% for the day, 9.5% for the month, and 39.5% for the quarter. 

closing indexes june 30

nyse and nasdaq june 30

5 Things to Know Today

  1. The Supreme Court limited the Environmental Protection Agency’s (EPA) authority to set standards for greenhouse gas emissions for existing power plants. (CNBC)
  2. Apple (AAPL) has ended imports of gold and tungsten from Russia, after a Moral Rating Agency report examining its promises of exiting the country. (MarketWatch)
  3. A top-line beat propped up Acuity Brands stock.
  4. One analyst is betting on this healthcare retailer.
  5. RH stock sinks on dismal full-year revenue forecast.

sectors june 3

 uvol june 30

Oil, Gold Prices End June With Losses

Oil prices settled lower on Thursday to log a 7.8% monthly loss. However, black gold managed to net positive for the first half of the year, and tacked on 5.5% for the quarter. The commodity tumbled today, after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) confirmed there will be a production boost in August. As a result, August-dated crude lost $4.02, or 3.7%, to settle at $109.78 per barrel.

Gold prices finished lower for a fourth consecutive session, closing out the month with a more than 2% deficit. The precious metal suffered as the U.S. dollar strengthened, and rising interest rates became more likely. For the day, August-dated gold fell $10.20, or 0.6%, to close at $1,807.30 an ounce -- its lowest level since February. Gold also gave back 7.5% for the quarter.

 

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