The Santa Selloff Continues

2022-12-23

The Santa Selloff Continues. All 11 of 11 sectors closed in the red.

Here are three reasons that markets lost a short-lived rally on Thursday.

Hot economic data: Initial weekly jobless claims for the week ending Dec. 17 rose by 2,000 to 216,000, according to the Labor Department. That’s less than the Dow Jones consensus estimate of 220,000.
Weak corporate earnings: $CarMax(KMX)$ shares fell about 3.7% after the company reported weaker-than-expected profit and revenue in its latest quarter. $Micron Technology(MU)$ shares slipped 3.4% after the company reported a wider-than-expected quarterly loss and miss on revenue after the close on Wednesday.
Bearish comments about the market: David Tepper, founder of Appaloosa Management, told CNBC on Thursday that he’s leaning short on equities because it’s unusual for global central banks, including theFederal Reserve, the European Central Bank and Bank of England, to tighten at the same time.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Jason1616
2022-12-23
Jason1616
No santa rally. 😅
- VivianLau:
  I agree
phongy 45
2022-12-23
phongy 45
red seas ... til 2023 ...
- VivianLau:
  so sad... even longer...
SR050321
2022-12-26
SR050321
One day up then down, friday was up, is it consider rally ? Maybe the big fish try to make it rally then dump it later 😅
DannDann
2022-12-23
DannDann
Thanks for sharing. Exellent read. Thumbs up 👍🏻👍
gawri
2022-12-25
gawri
yes yes yes
Kelvin_Qiu
2022-12-24
Kelvin_Qiu
[LOL] [Facepalm]

Leave a comment

453

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":9922201464,"tweetId":"9922201464","gmtCreate":1671766172358,"gmtModify":1676538590115,"author":{"id":9000000000000523,"idStr":"9000000000000523","authorId":9000000000000523,"authorIdStr":"9000000000000523","name":"VivianLau","avatar":"https://community-static.tradeup.com/news/2198c19b3e8cb76662d9e3a96221e6b1","vip":8,"userType":8,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":85,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/58643f4ba970bef1f7bd95bbdff49420","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/038910e9f2e870146aa813b8b10f69f3","width":"-1","height":"-1"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/58643f4ba970bef1f7bd95bbdff49420","width":"-1","height":"-1"}],"title":"The Santa Selloff Continues","html":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/58643f4ba970bef1f7bd95bbdff49420\" tg-width=\"-1\" tg-height=\"-1\">The Santa Selloff Continues.&nbsp;All 11 of 11 sectors closed in the red.<img src=\"https://community-static.tradeup.com/news/038910e9f2e870146aa813b8b10f69f3\" tg-width=\"-1\" tg-height=\"-1\">Here&nbsp;are&nbsp;three reasons that markets lost a short-lived rally on Thursday.<ol>\n <li>Hot economic data:&nbsp;Initial weekly jobless claims for the week&nbsp;ending Dec. 17 rose by 2,000 to 216,000, according to the Labor Department. That’s less than the Dow Jones consensus estimate of 220,000.</li>\n <li>Weak corporate earnings:&nbsp;<a href=\"https://ttm.financial/S/KMX\">$CarMax(KMX)$</a>&nbsp;shares fell about 3.7% after the company reported weaker-than-expected profit and revenue in its latest quarter.&nbsp;<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$</a>&nbsp;shares slipped 3.4% after the company reported a wider-than-expected&nbsp;quarterly loss&nbsp;and miss on revenue after the close on Wednesday.</li>\n <li>Bearish comments about the market:&nbsp;David Tepper, founder of Appaloosa Management,&nbsp;told CNBC on Thursday&nbsp;that he’s leaning short on equities because it’s unusual for global central banks, including theFederal Reserve, the&nbsp;European Central Bank&nbsp;and&nbsp;Bank of England, to tighten at the same time.</li>\n</ol></body></html>","htmlText":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/58643f4ba970bef1f7bd95bbdff49420\" tg-width=\"-1\" tg-height=\"-1\">The Santa Selloff Continues.&nbsp;All 11 of 11 sectors closed in the red.<img src=\"https://community-static.tradeup.com/news/038910e9f2e870146aa813b8b10f69f3\" tg-width=\"-1\" tg-height=\"-1\">Here&nbsp;are&nbsp;three reasons that markets lost a short-lived rally on Thursday.<ol>\n <li>Hot economic data:&nbsp;Initial weekly jobless claims for the week&nbsp;ending Dec. 17 rose by 2,000 to 216,000, according to the Labor Department. That’s less than the Dow Jones consensus estimate of 220,000.</li>\n <li>Weak corporate earnings:&nbsp;<a href=\"https://ttm.financial/S/KMX\">$CarMax(KMX)$</a>&nbsp;shares fell about 3.7% after the company reported weaker-than-expected profit and revenue in its latest quarter.&nbsp;<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$</a>&nbsp;shares slipped 3.4% after the company reported a wider-than-expected&nbsp;quarterly loss&nbsp;and miss on revenue after the close on Wednesday.</li>\n <li>Bearish comments about the market:&nbsp;David Tepper, founder of Appaloosa Management,&nbsp;told CNBC on Thursday&nbsp;that he’s leaning short on equities because it’s unusual for global central banks, including theFederal Reserve, the&nbsp;European Central Bank&nbsp;and&nbsp;Bank of England, to tighten at the same time.</li>\n</ol></body></html>","text":"The Santa Selloff Continues. All 11 of 11 sectors closed in the red. Here are three reasons that markets lost a short-lived rally on Thursday. Hot economic data: Initial weekly jobless claims for the week ending Dec. 17 rose by 2,000 to 216,000, according to the Labor Department. That’s less than the Dow Jones consensus estimate of 220,000. Weak corporate earnings: $CarMax(KMX)$ shares fell about 3.7% after the company reported weaker-than-expected profit and revenue in its latest quarter. $Micron Technology(MU)$ shares slipped 3.4% after the company reported a wider-than-expected quarterly loss and miss on revenue after the close on Wednesday. Bearish comments about the market: David Tepper, founder of Appaloosa Management, told CNBC on Thursday that he’s leaning short on equities because it’s unusual for global central banks, including theFederal Reserve, the European Central Bank and Bank of England, to tighten at the same time.","highlighted":2,"essential":1,"paper":2,"likeSize":453,"commentSize":40,"repostSize":1,"favoriteSize":0,"link":"https://ttm.financial/post/9922201464","repostId":0,"isVote":1,"tweetType":1,"viewCount":3894,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["KMX","MU"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":801,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":105311283,"commentId":"105311283","gmtCreate":1671770461350,"gmtModify":1671772164619,"authorId":3572267605406030,"author":{"id":3572267605406030,"idStr":"3572267605406030","authorId":3572267605406030,"name":"Jason1616","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"No santa rally. 😅","text":"No santa rally. 😅","html":"No santa rally. 😅","likeSize":1,"commentSize":1,"subComments":[{"id":105311660,"commentId":"105311660","gmtCreate":1671772185560,"gmtModify":1671772199408,"authorId":9000000000000523,"author":{"id":9000000000000523,"idStr":"9000000000000523","authorId":9000000000000523,"name":"VivianLau","avatar":"https://community-static.tradeup.com/news/2198c19b3e8cb76662d9e3a96221e6b1","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":105311283,"supIdStr":"105311283","prevId":0,"prevIdStr":"0","content":"I agree","text":"I agree","html":"I agree"}],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":105310691,"commentId":"105310691","gmtCreate":1671767876176,"gmtModify":1671767889805,"authorId":4101978790494150,"author":{"id":4101978790494150,"idStr":"4101978790494150","authorId":4101978790494150,"name":"phongy 45","avatar":"https://static.tigerbbs.com/f6f41e543307358288f75d55fe347ad2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"red seas ... til 2023 ...","text":"red seas ... til 2023 ...","html":"red seas ... til 2023 ...","likeSize":1,"commentSize":1,"subComments":[{"id":105311673,"commentId":"105311673","gmtCreate":1671772264079,"gmtModify":1671772276751,"authorId":9000000000000523,"author":{"id":9000000000000523,"idStr":"9000000000000523","authorId":9000000000000523,"name":"VivianLau","avatar":"https://community-static.tradeup.com/news/2198c19b3e8cb76662d9e3a96221e6b1","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":105310691,"supIdStr":"105310691","prevId":0,"prevIdStr":"0","content":"so sad... even longer...","text":"so sad... even longer...","html":"so sad... even longer..."}],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":105336938,"commentId":"105336938","gmtCreate":1672015035083,"gmtModify":1672015047824,"authorId":3577965120664925,"author":{"id":3577965120664925,"idStr":"3577965120664925","authorId":3577965120664925,"name":"SR050321","avatar":"https://community-static.tradeup.com/news/7a02781de36c0ac0f4851adb1cee54ff","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.18","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"One day up then down, friday was up, is it consider rally ? Maybe the big fish try to make it rally then dump it later 😅","text":"One day up then down, friday was up, is it consider rally ? Maybe the big fish try to make it rally then dump it later 😅","html":"One day up then down, friday was up, is it consider rally ? Maybe the big fish try to make it rally then dump it later 😅","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":105310616,"commentId":"105310616","gmtCreate":1671767475930,"gmtModify":1671767488776,"authorId":4120013852628412,"author":{"id":4120013852628412,"idStr":"4120013852628412","authorId":4120013852628412,"name":"DannDann","avatar":"https://community-static.tradeup.com/news/8e44cc7f66b632797c9ec7fed53fddd0","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.11.17","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Thanks for sharing. Exellent read. Thumbs up 👍🏻👍","text":"Thanks for sharing. Exellent read. Thumbs up 👍🏻👍","html":"Thanks for sharing. Exellent read. Thumbs up 👍🏻👍","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":105326851,"commentId":"105326851","gmtCreate":1671917377316,"gmtModify":1671917390149,"authorId":4095801066631640,"author":{"id":4095801066631640,"idStr":"4095801066631640","authorId":4095801066631640,"name":"gawri","avatar":"https://static.tigerbbs.com/e2a4ba3e8eef9fc632dd7f5b79546e64","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"yes yes yes","text":"yes yes yes","html":"yes yes yes","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":105318273,"commentId":"105318273","gmtCreate":1671818250360,"gmtModify":1671818263123,"authorId":3581638828642415,"author":{"id":3581638828642415,"idStr":"3581638828642415","authorId":3581638828642415,"name":"Kelvin_Qiu","avatar":"https://static.tigerbbs.com/58df4d9e030a9766be7d0b65f5e798af","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss Tiger","description":"The transaction amount of the securities account reaches $100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.04.15","exceedPercentage":"60.52%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9922201464,"objectIdStr":"9922201464","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"[LOL] [Facepalm]","text":"[LOL] [Facepalm]","html":"[LOL] [Facepalm]","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/9922201464"}