CNBC Daily Open: Markets see worst day in months on FedEx slump
Publishing timestamp: 2023-12-20 18:47:34
Summary
The article discusses the recent decline in U.S. markets, with all major indexes experiencing one of their worst trading sessions in months. It also mentions the dip in U.S. Treasury yields. The article highlights the lower-than-expected UK inflation rate and the closure of Citigroup's global distressed-debt group. It notes that Tesla is attracting a significant amount of individual investor dollars and warns that the market rally may need a breather. The article also discusses FedEx's disappointing forecast and its potential impact on the broader market. Despite the market decline, there were pockets of strength, such as Alphabet's gain and an increase in consumer confidence. The article concludes by stating that market losses were more technical than fundamental and that pullbacks are natural in overbought conditions.
Sentiment: MIXED
Tickers: SPY, .DJI, C, FDX, .FTSE, .IXIC, GOOGL, TSLA, .SPX,
Keywords: nasdaq composite, fedex corp, united states, banks, dow jones industrial average, business news, ftse 100, technology, spdr s&p 500 etf trust, world markets, alphabet inc, economic events, citigroup inc, markets, s&p 500 index, tesla inc,
Source: https://www.cnbc.com/2023/12/21/stock-markets-markets-see-worst-day-in-months-on-fedex-slump-.html