Stocks Hit Early But Close Well Off Lows; Celsius, SPWR, ON Show Strength | Stock Market Today | Summary and Q&A

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September 16, 2022
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Investor's Business Daily
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Stocks Hit Early But Close Well Off Lows; Celsius, SPWR, ON Show Strength | Stock Market Today

TL;DR

Stocks experienced significant weekly losses, with the Nasdaq down 6%, while solar stocks showed strength. Market sentiment remains negative due to concerns about a potential recession and rising interest rates.

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Questions & Answers

Q: What were the major stock indexes' performance for the week?

The Nasdaq was down 6%, the S&P 500 was down 5.2%, and the Dow was down 0.5%.

Q: What caused the morning gap down in the stock market?

Negative sentiment was sparked by FedEx's CEO stating concerns about a worldwide recession, leading to a sell-off.

Q: What sectors performed well despite market weakness?

Solar stocks, such as SunPower and Celsius, showed strength and support in the unsettled market.

Q: How did the major indexes close compared to recent support levels?

The Nasdaq closed below the low from September 6 and July 26, indicating potential breakdown. It closed at 11,448, below the support level of 11,533.

Q: How did solar stocks perform in the market?

Solar stocks, including SunPower, showed strength and resilience, even when the broader market was sharply down.

Q: How did semiconductor stocks perform in the volatile market?

On Semiconductor showed relative strength and is poised to potentially become a market leader in the EV (electric vehicle) industry.

Q: What factors are contributing to market uncertainty?

Rising interest rates, concerns about a potential recession, and negative headlines are creating uncertainty in the market.

Q: What should investors consider amidst market volatility?

It is important to have a short-term mindset and closely monitor leading stocks. Holding onto underperforming stocks with the hope for recovery is a risky strategy in the current market.

Summary & Key Takeaways

  • Despite a strong rebound from morning lows, stocks closed the week with significant losses, including the Nasdaq down 6% and the S&P 500 down 5.2%.

  • Solar stocks, such as SunPower (SPWR) and Celsius (CELH), remained strong in a volatile market.

  • Semiconductor stocks, including On Semiconductor (ON), showed relative strength, but the broader market trend remains weak.

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