The majority of last week was negative due to the Omicron COVID-19 variant and the fear that came into the markets.
Friday’s unemployment figures came out mixed with the unemployment rate coming down lower to 4.2% the lowest it has been since the pandemic started in 2020, Non-Farm and Average hourly earnings however declined for the month.
The COVID cases in the US are on the rise which hasn’t been factored into the unemployment figures just yet but should come into the stats over the next couple of months.
- DocuSign (DOCU) was down 42.23% following a loss of a third of its revenue and rating cuts.
- Li Auto Inc (LI) was down 15.95% as a slump in the electric vehicle sector as well as the Chinese sector dragged the stock lower
- TME was down 11.94%
- XPEV was down 9.30% as a slump in the electric vehicle sector as well as the Chinese sector dragged the stock lower
Stocks to watch:
Target Corporation (TGT)
Heading into the festive season keeping an eye out of retail stocks that are set to have a huge influx of additional revenue should be the strategy for December.
Target made a strong decline back to its rising trend line on the daily timeframe and is set to continue a push higher given a break of the 20 and 50 moving averages price levels above $252.