CBOE's Market Recap: April 25 To April 29

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Last week’s stock market movements did not show any deviation from the market’s general activity in 2022, continuing the downtrend that stretched across the first quarter of the year. 

Cboe Global Markets Inc. CBOE reports a decline in a number of U.S. funds tracking major indices, including the Nasdaq 100 Index, the Russell 2000 Index and the S&P 500 Index. Similar weakness is observed in European stock markets, specifically in Germany’s DAX 30, France’s CAC 40 and Europe’s MSCI European. The iShares DAX 30 EXS, representative of the London Stock Exchange, was the only exchange-traded fund (ETF) mentioned that increased in value last week.

Lawrence Culp Jr.’s General Electric Co. GE wins chart of the week following a strong reaction to a recently released earnings report. 

Finally, Cboe notes important upcoming earnings that may lift investors’ eyebrows in the following week.

Quick Bites

Exchange-Traded Funds 

  • The SPDR S&P 500 ETF SPY declined 3.3% last week, representing the fourth consecutive week of price depreciation.
  • The Invesco QQQ Trust Series 1 QQQ declined 3.85% last week despite a positive earnings report from Meta Platforms Inc. FB
  • The iShares Russell 2000 ETF IWM declined 4.01% last week, breaking the low of a 12-week range that kept the security’s price between $212.25 and $187.92 per share. 
  • The Cboe Volatility Index™ VIX increased 18.4% last week, a follow through on the sharp increase experienced last week.

World Markets

  • The MSCI European ETF IEUR declined 3.38% week-on-week.
  • The iShares FTSE 100 ISF rose 0.31% week-on-week, showing market-opposing strength. 
  • The iShares DAX 30 EXS declined 0.31% week-on-week. 
  • The Lyxor CAC 40 ETF CAC declined 0.2% week-on-week. 

Chart Of The Week: GE

This photo was taken from the TradingView platform

Shares of the multinational conglomerate General Electric tumbled 5 points – 5.59% – in the after-market hours as a result of its earnings report. Amid market weakness, the security’s price continued to take a beating, closing at roughly $74.5 per share on April 29, a 17.39% decrease from its pre-earnings valuation. 

GE has labeled supply chain issues and rising inflation as the two main reasons for its stock’s slump. 

Major Cryptos

    • Bitcoin BTC/USD declined 2.51%, representing its fifth week of consecutive decline. 
    • Ethereum ETH/USD declined 3.27%, representing its fourth week of consecutive decline.
  • Solana SOL/USD declined 9.64%, representing its fourth week of consecutive decline.

Upcoming Earnings And Catalysts

May 2

BlackRock BLK, Berkshire Hathaway (NYSE: BRK-A) and Expedia Group Inc. EXPE reported earnings on May 2, with the earnings per share announced at $9.52, $3,702 and -$0.47 respectively.

May 3

Several major corporations reported earnings on May 3, including Pfizer Inc. PFE, Advanced Micro Devices Inc. AMD, Airbnb Inc. ABNB, Starbucks Corp. SBUX and Hilton Hotels Corp. HLT

According to Kiplinger, analysts are optimistic heading into Advanced Micro Devices first-quarter 2022 report. Consensus estimates are for the company to report earnings of 91 cents per share, up 75% year-over-year (YoY), and revenue of $5.5 billion, up 60.3% YoY.

May 4

Moderna Inc. MRNA, Uber Technologies Inc. UBER, CVS Health Corp. CVS, Etsy Inc. ETSY and Marathon Digital Holdings Inc. MARA report earnings on May 4. 

The earnings estimates for each are $5.74, -$0.27, $2.16, $0.57 and $0.22, respectively. 

Other notable earnings thorough the week include Shopify Inc. SHOP, Fubotv Inc. FUBO, Crocs Inc. CROX, Lucid Group Inc. LCID and DraftKings Inc. DKNG.

Click here for more weekly insights by Cboe. 

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