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Stock market news today 2022
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The market rally took a pause this week - June 3, 2022
Related:
The stock market started the year with a selloff - January 7, 2022
The stock market continue with the inflation tolerant stocks - January 15, 2022
The stock market was decimated into correction territory - January 21, 2022
The stock market close the week off on a positive note - January 28, 2022
The stock market show recovery for the second consecutive week - February 4, 2022
The stock market gave back previous week's gains - February 11, 2022
The stock market conditions seem to be deteriorating - February 18, 2022
The stock market is trying to rebound after Russia invades Ukraine - February 25, 2022
The stock market may be looking to test the bottom soon - March 4, 2022
The stock market made a closing low this week - March 11, 2022
The stock market closed strong this week despite first rate hike - March 18, 2022
The stock market rise for the second consecutive week - March 25, 2022
The stock market took a breather this week - April 1, 2022
The stock market conditions deteriorated this week - April 8, 2022
The stock market conditions continue to deteriorate this week - April 15, 2022
Was the recent rally since March 14 bottom a bear market rally? - April 22, 2022
Nasdaq and Russell 2000 confirmed bear market rally - April 29, 2022
Is stock market showing signs of bottoming? - May 6, 2022
Stock market attempt rally after new lows - May 13, 2022
Stock market decimated rally and S&P 500 made new intraday bear market - May 20, 2022
Stock market is on the verge of relief rally - May 27, 2022
Is this another bear market rally? - June 10, 2022
Bear market continues as stock market indices made new low - June 17, 2022
The stock market show signs of improvements - June 24, 2022
This has been a disappointing week for the stock market - July 1, 2022
The stock market rebound strongly this week - July 8, 2022
The stock market is stuck in a trading range - July 15, 2022
The stock market breaks out - July 22, 2022
Why is stock market bullish today, or is it going to turn bearish soon
Is stock market ready for a pause or will it continue this rally? - August 5, 2022
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The market rally took a pause this week - June 3, 2022
What happen to the market this week?
The market rally took a pause this week after Microsoft gave a downward forecast revision on their earnings. Jamie Dimon from JP Morgan also gave a bleak outlook on the economy saying an economic hurricane is coming. And Tesla has announced a 10% workforce cut as CEO Musk also has a super bad feeling about the economy. The job report is much stronger than expected. A Fed representative signals September rate hike most likely with futures signal rate hikes of 0.50% in June, July and September.
This week the major indices gave back a little bit of gains after turning out the best weekly performance this year in the week before.
| Index | May 31 - Jun. 3 |
| Nasdaq | -0.98% |
| S&P 500 | -1.20% |
| Dow Jones | -0.94% |
| Russell 2000 | -0.26% |
Is stock market showing signs of bottoming?
The market rally is trying to hold on to previous week's huge gains. This week it suffers smaller losses.
| 2021-2022 Correction | |
| Nasdaq (since Nov 22, 2021 to May 20, 2022) | -31.93% |
| S&P 500 (since Jan 4, 2022 to May 20, 2022) | -20.93% |
| Dow Jones (since Jan 5, 2022 to May 20, 2022) | -17.09% |
| Russell 2000 (since Nov 8, 2021 to May 12, 2022) | -30.82% |
It is possible that we may have a definite bottom of this bear market, but it could also be that we are in a bear market rally. Only time will tell. But for now, this market rally seems to be gaining some momentum as more stocks are being accumulated as shown in this article below, but things could turn quick if there are any signs of companies growth slowing amid a weaker economy.
What is the current support level?
All the general market indices are trying to hold above its short term 10 and 21 days moving average. If it can hold, the next challenge will be its 50 days moving average.
- NASDAQ - below its 50 days moving average line near 13000; current at 12012
- S&P 500 - below its 50 days moving average line near 4300; current at 4108
- DJIA - below its 50 days moving average line near 33600; current at 32899
- RUSSELL 2000 - below its 50 days moving average line near 1940; current at 1883
Psychological levels
- Nasdaq is now above 12000.
- S&P 500 is now above 4100.
- Dow Jones Industrial Average is slightly below 33000.
- Small cap Russell 2000 is now above 1800.
Stock market breadth - Accumulation vs Distribution for this week:
| Accumulation | Distribution | |
| #industry groups | 55 | 26 |
| #stocks | 277 | 122 |
We continue to see more accumulation this week despite a down week. This is a good sign for the market.
Check out our course How to measure or calculate stock market breadth.
Which stocks from each industry group show strength?
Although down from last week, there are still many industry groups from different sectors that show strength this week with accumulation in many stocks. This is a bullish sign.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Special) | 2 | SPSC, VMW |
| Technology | Technology | Computer Software: Prepackaged Software (Database) | 5 | CVLT, DBX, ESTC, MDB, OTEX |
| Technology | Technology | Computer Software: Prepackaged Software (Design) | 2 | BSY, U |
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | 12 | ALIT, AUDC, BLKB, CRM, DDOG, ECOM, NOW, PATH, PCTY, SMAR, TRMR, YMM |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | 1 | ACIW |
| Technology | Technology | EDP Services (Medical) | 3 | AMWL, EVH, VEEV |
| Technology | Technology | Computer Software: Prepackaged Software (Security) | 5 | CHKP, HRT, KNBE, OKTA, VRNT |
| Technology | Technology | Electronic Components | 1 | PSTG |
| Technology | Technology | Computer Manufacturing | 2 | HPQ, SMCI |
| Technology | Technology | EDP Services (Integrated System) | 1 | AGYS |
| Technology | Technology | Computer Communications Equipment | 2 | DGII, SWIR |
| Technology | Technology | EDP Services (Tech Services) | 2 | CDW, RCMT |
| Technology | Technology | Semiconductors | 1 | AMD |
| Technology | Technology | Semiconductors (Equip) | 1 | PLAB |
| Technology | Technology | Semiconductors (Manufacturing) | 2 | IMOS, ON |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | 8 | ATHM, BIDU, BZ, DHX, FENG, KIND, MOMO, WB |
| Technology | Technology | EDP Services | 1 | TCX |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | 2 | ADTN, CMTL |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 7 | CPRI, CRI, GIII, GIL, PVH, RL, UA |
| Retail | Consumer Non-Durables | Shoe Manufacturing | 3 | CROX, NKE, WWW |
| Retail | Capital Goods | Auto Manufacturing | 2 | LI, NIO |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 5 | APTV, DAN, MOD, THRM, TSP |
| Retail | Capital Goods | Auto Parts:O.E.M. (Parts) | 1 | SMP |
| Retail | Consumer Durables | Automotive Aftermarket | 1 | TWI |
| Retail | Consumer Services | Other Consumer Services | 2 | FC, TEDU |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | 3 | EL, ELF, MED |
| Retail | Capital Goods | Industrial Machinery/Components | 1 | IDCC |
| Retail | Consumer Services | Catalog/Specialty Distribution | 1 | CVGW |
| Retail | Consumer Services | Hotels/Resorts (Gaming) | 1 | GDEN |
| Retail | Consumer Services | Hotels/Resorts (Lodging) | 1 | CHH |
| Retail | Consumer Services | Consumer Electronics/Video Chains | 1 | CURI |
| Retail | Consumer Services | Marine Transportation | 1 | EDR |
| Retail | Miscellaneous | Business Services | 1 | SOND |
| Retail | Consumer Durables | Automotive Aftermarket | 1 | LAZY |
| Retail | Consumer Services | RETAIL: Building Materials | 1 | BXC |
| Retail | Consumer Non-Durables | Consumer Specialties | 1 | BRLT |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 2 | LULU, URBN |
| Retail | Consumer Services | Other Specialty Stores | 2 | LOVE, RH |
| Retail | Miscellaneous | Business Services (Internet) | 5 | AMZN, CHWY, JD, LVLU, PDD |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | 1 | DTC |
| Retail | Consumer Services | Department/Specialty Retail Stores | 1 | COST |
| Retail | Consumer Services | Restaurants | 2 | BH, SBUX |
| Retail | Basic Industries | Package Goods/Cosmetics | 1 | ECL |
| Industrial | Capital Goods | Military/Government/Technical | 6 | BA, HEI, MRCY, NOC, RADA, TDY |
| Industrial | Consumer Durables | Building Products | 5 | AWI, CSTE, SWIM, WMS, WTS |
| Industrial | Capital Goods | Tools/Hardware | 1 | TTC |
| Industrial | Capital Goods | Engineering & Construction | 1 | PWR |
| Industrial | Basic Industries | Forest Products | 2 | LPX, WFG |
| Industrial | Basic Industries | Major Chemicals | 1 | BAK |
| Industrial | Basic Industries | Major Chemicals: Plastics | 1 | TG |
| Industrial | Basic Industries | Major Chemicals: Others | 5 | MEOH, NGVT, OEC, TROX, UNVR |
| Industrial | Miscellaneous | Business Services | 1 | RGP |
| Industrial | Technology | Diversified Commercial Services | 2 | URI, WSC |
| Industrial | Technology | Professional Services | 1 | KFRC |
| Industrial | Technology | Industrial Machinery/Components | 1 | EMR |
| Industrial | Technology | Electrical Products | 1 | KE |
| Industrial | Consumer Durables | Metal Fabrications | 2 | GNRC, ROK |
| Industrial | Miscellaneous | Industrial Machinery/Components | 2 | LASR, WCC |
| Industrial | Capital Goods | Fluid Controls | 2 | ERII, ZWS |
| Industrial | Basic Industries | Aluminum | 2 | IIIN, ROCK |
| Industrial | Basic Industries | Paper | 2 | CLW, VRTV |
| Industrial | Basic Industries | Environmental Services | 2 | DCI, TTEK |
| Industrial | Consumer Services | Diversified Commercial Services | 2 | ITRN, NSSC |
| Industrial | Transportation | Air Freight/Delivery Services | 1 | UPS |
| Industrial | Transportation | Railroads | 1 | CP |
| Industrial | Consumer Services | Marine Transportation | 3 | CPLP, EGLE, ESEA |
| Industrial | Transportation | Trucking Freight/Courier Services | 1 | ODFL |
| Industrial | Capital Goods | Auto Manufacturing | 1 | PCAR |
| Industrial | Public Utilities | Power Generation | 1 | GNE |
| Industrial | Basic Industries | Electric Utilities: Central | 2 | NEE, POR |
| Industrial | Public Utilities | Water Supply | 1 | AWK |
| Health | Health Care | Major Pharmaceuticals | 19 | AMRN, ANIK, BPMC, CRSP, DNA, ENTA, NBIX, NGM, PBYI, RARE, RCKT, RGC, RGNX, RPTX, SAGE, SPPI, SRNE, SURF, TRVN |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 1 | ENDP |
| Health | Health Care | Medical Specialities | 1 | AMEH |
| Health | Health Care | Medical/Dental Instruments | 1 | SILK |
| Health | Health Care | Medical Specialities (Services) | 1 | IRTC |
| Health | Health Care | Medical Specialities (Supplies) | 1 | ELAN |
| Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | 2 | AXNX, WAT |
| Health | Health Care | Other Pharmaceuticals | 1 | PETQ |
| Commodities | Consumer Services | Farming/Seeds/Milling | 1 | DAR |
| Commodities | Basic Industries | Agricultural Chemicals | 1 | SMG |
| Commodities | Energy | Industrial Machinery/Components | 2 | CHPT, NEP |
| Commodities | Energy | Coal Mining | 1 | METC |
| Commodities | Technology | Semiconductors (Solar) | 3 | CSIQ, JKS, RUN |
| Commodities | Capital Goods | Industrial Machinery/Components | 1 | LNN |
| Commodities | Basic Industries | Precious Metals | 1 | AGI |
| Commodities | Basic Industries | Precious Metals | 1 | SCCO |
| Commodities | Energy | Oil & Gas Production (Canada) | 1 | ERF |
| Commodities | Energy | Oil & Gas Production: Drilling | 1 | VAL |
| Commodities | Energy | Oilfield Services/Equipment | 3 | CLB, HAL, PUMP |
| Commodities | Energy | Integrated oil Companies | 5 | AM, EC, NFE, PTR, SNP |
| Commodities | Energy | Oil & Gas Production (International) | 4 | APA, COP, HES, OVV |
| Commodities | Energy | Metal Fabrications | 4 | BKR, FET, GEOS, NOV |
| Commodities | Energy | Integrated oil Companies | 8 | CVI, DINO, DK, MPC, PBF, TRGP, UGI, VLO |
| Commodities | Energy | Oil & Gas Production (Royalty Trust) | 3 | SBR, SJT, TPL |
| Commodities | Energy | Natural Gas Distribution | 9 | DCP, ENB, FLNG, GLNG, LPG, NVGS, PAA, RTLR, STNG |
| Commodities | Energy | Oil & Gas Production (U.S.) | 20 | BSM, CDEV, CIVI, DEN, DVN, EOG, ESTE, FANG, LPI, MNRL, NOG, OAS, PDCE, ROCC, SBOW, SD, SM, VNOM, WLL, WTI |
| Commodities | Basic Industries | Steel/Iron Ore | 1 | HWM |
| Financial | Finance | Commercial Banks | 3 | CIB, CM, NU |
| Financial | Finance | Major Banks (Midwest) | 1 | MBIN |
| Financial | Finance | Major Banks (Northeast) | 1 | WBS |
| Financial | Finance | Major Banks (Southeast) | 3 | FBK, HOMB, TRMK |
| Financial | Capital Goods | Homebuilding | 3 | BZH, DHI, HOV |
| Financial | Miscellaneous | Business Services | 2 | PAYS, STNE |
| Financial | Finance | Investment Bankers/Brokers/Service | 1 | FRHC |
| Financial | Finance | Investment Managers | 1 | WHG |
| Financial | Consumer Services | Real Estate Investment Trusts | 2 | NMIH, OCN |
| Financial | Consumer Services | Real Estate Investment Trusts | 3 | AMT, BNL, VICI |
| Financial | Finance | Major Banks (Savings) | 1 | PFC |
| Financial | Consumer Services | Other Consumer Services (Specialty) | 1 | NRDS |
| Financial | Finance | Specialty Insurers | 2 | ERIE, RYAN |
| Financial | Finance | Property-Casualty Insurers | 1 | HRTG |
| Financial | Finance | Real Estate | 1 | BEKE |
Which stocks from each industry group show weakness?
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Special) | -2 | IS, ZUO |
| Technology | Technology | Computer Software: Prepackaged Software (Education/Media) | -2 | BCOV, DAO |
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | -7 | APPS, HCP, LAW, NET, SNOW, WIX, ZEN |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | -1 | COIN |
| Technology | Technology | EDP Services (Medical) | -2 | GDRX, SGFY |
| Technology | Technology | EDP Services (Tech Services) | -1 | PRCH |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | -2 | DOYU, YY |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | -1 | VSCO |
| Retail | Capital Goods | Auto Manufacturing | -1 | TSLA |
| Retail | Consumer Non-Durables | Beverages Alcoholic (Production/Distribution) | -1 | TAP |
| Retail | Consumer Durables | Specialty Chemicals | -1 | CRON |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | -1 | HELE |
| Retail | Consumer Non-Durables | Specialty Foods | -1 | TR |
| Retail | Consumer Non-Durables | Meat/Poultry/Fish | -1 | HRL |
| Retail | Consumer Services | Catalog/Specialty Distribution | -2 | DOLE, MKC |
| Retail | Consumer Non-Durables | Packaged Foods | -4 | CPB, FLO, K, PEP |
| Retail | Consumer Non-Durables | Plastic Products | -1 | NWL |
| Retail | Consumer Services | Hotels/Resorts (Gaming) | -1 | DKNG |
| Retail | Consumer Non-Durables | Recreational Products/Toys, Motor Vehicles | -2 | DOOO, VSTO |
| Retail | Miscellaneous | Business Services | -1 | VCSA |
| Retail | Consumer Services | Newspapers/Magazines | -1 | NWSA |
| Retail | Consumer Services | Television Services | -1 | AMCX |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | -4 | ANF, DLTH, EXPR, ZUMZ |
| Retail | Consumer Services | Consumer Electronics/Video Chains | -1 | CONN |
| Retail | Consumer Services | Other Specialty Stores | -3 | AAN, BBBY, KIRK |
| Retail | Miscellaneous | Business Services (Internet) | -1 | REAL |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | -1 | SPWH |
| Retail | Consumer Services | Restaurants | -3 | CBRL, PLAY, SG |
| Retail | Consumer Services | Other Specialty Stores | -1 | JOAN |
| Retail | Consumer Services | Food Chains | -2 | CBD, NGVC |
| Retail | Transportation | Air Freight/Delivery Services | -2 | DAL, SNCY |
| Retail | Consumer Non-Durables | Food Distributors | -1 | PFGC |
| Industrial | Capital Goods | Military/Government/Technical | -1 | ISSC |
| Industrial | Basic Industries | Major Chemicals | -1 | LYB |
| Industrial | Basic Industries | Major Chemicals: Plastics | -1 | DOW |
| Industrial | Basic Industries | Major Chemicals: Others | -1 | CNEY |
| Industrial | Technology | Advertising | -2 | IPG, OMC |
| Industrial | Technology | Professional Services | -1 | MAN |
| Industrial | Technology | Electrical Products | -1 | LWLG |
| Industrial | Capital Goods | Electrical Products | -1 | FARO |
| Industrial | Basic Industries | Paper | -1 | IP |
| Industrial | Basic Industries | Electric Utilities: Central | -1 | FE |
| Health | Finance | Specialty Insurers | -1 | CRVL |
| Health | Health Care | Major Pharmaceuticals | -10 | ACOR, CGEN, EXAS, HRTX, INCY, INO, REGN, RIGL, TSVT, TWST |
| Health | Health Care | Major Pharmaceuticals (Diversified) | -1 | GSK |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | -1 | MRK |
| Health | Health Care | Major Pharmaceuticals (Generic Drugs) | -1 | TARO |
| Health | Health Care | Hospital/Nursing Management | -2 | HCA, UHS |
| Health | Health Care | Medical Specialities | -3 | CI, MOH, PGNY |
| Health | Health Care | Medical/Dental Instruments | -6 | CNMD, MDT, QDEL, TNDM, TXG, ZIMV |
| Health | Health Care | Biotechnology: Commercial Physical & Biological Research | -2 | ILMN, MYGN |
| Health | Health Care | Medical Specialities (Services) | -4 | DGX, LH, ME, NVTA |
| Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | -2 | FONR, STE |
| Health | Health Care | Other Pharmaceuticals | -2 | ABC, MCK |
| Financial | Finance | Major Banks (Northeast) | -1 | EGBN |
| Financial | Finance | Major Banks (West) | -1 | HMST |
| Financial | Finance | Finance: Consumer Services | -1 | LX |
| Financial | Finance | Investment Managers | -1 | MARA |
| Financial | Consumer Services | Real Estate Investment Trusts | -1 | DBRG |
| Financial | Consumer Services | Real Estate Investment Trusts | -4 | LAND, MPW, PCH, SLG |
| Financial | Consumer Services | Other Consumer Services (Specialty) | -3 | FRG, HUT, RIOT |
| Financial | Finance | Specialty Insurers | -2 | AON, FANH |
| Financial | Finance | Property-Casualty Insurers (Diversified) | -1 | AIG |
| Financial | Finance | Property-Casualty Insurers | -1 | HMN |
| Financial | Finance | Real Estate | -4 | CWK, JLL, NMRK, TCN |
Disclaimer: MCBOSS CAPITAL provides financial education and information research. None of this information should be used for investment purpose. Please seek professional advice. Information provided may not always be accurate.
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