Bitcoin, Bed Bath & Beyond, Walgreens, Exxon: What to Watch in the Stock Market Today

Wall Street stock indexes slipped in morning trading after Thursday’s technology-driven rout. Here’s what we’re watching in Thursday’s session:

  • Course correction:

    Bed Bath & Beyond

    BBBY 9.02%

    shares jumped higher, a sharp reversal from premarket losses that came after it reported lower sales and a quarterly loss. Investors are digesting how the company’s recent performance was tracking to already-reduced expectations based on trends from the summer.

Bed Bath & Beyond was due to report earnings.



Photo:

Michael M. Santiago/Getty Images

  • Bitcoin is extending its slump, and crypto stocks are also sliding, including

    Coinbase,

    COIN -2.47%

    Bakkt Holdings

    BKKT -4.52%

    and bitcoin miners

    Marathon Digital

    MARA -2.55%

    and Hut 8 Mining.

  • Pharmacy retailer

    Walgreens

    WBA -1.24%

    Boots Alliance reported results that beat forecasts and lifted its full-year guidance.

  • Alcoholic beverage producer

    Constellation Brands

    STZ.B -0.01%

    posted lower sales and earnings in the latest quarter, though its adjusted profit beat analysts’ expectations.

  • Cloud security company

    Datadog

    DDOG 2.80%

    said it had entered a partnership with Amazon Web Services on product development.

  • Akamai Technologies

    AKAM -2.47%

    shares dropped after Piper Sandler cut its rating on the stock and lowered its price target.

  • Flagship meme stocks

    AMC Entertainment

    AMC -0.27%

    and

    GameStop

    GME -0.26%

    were wavering after suffering particularly badly during Wednesday’s broad market drop.

  • Crude prices are climbing, and energy companies are along for the ride.

    Chevron,

    CVX 0.72%

    Exxon

    XOM 1.47%

    Mobil and

    Occidental Petroleum

    OXY 2.42%

    were all ticking higher.

Chart of the Day
  • Investors are betting that rising interest rates and a tech swoon could bring American stocks’ winning streak to an end in 2022.

Write to James Willhite at james.willhite@wsj.com

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