The financial community is examining the avalanche of earnings that banks and payment networks continue to generate.
While earnings announcements have yet to start up in our coverage, we can assume that the names are moving in lockstep with what their financial services counterparts are saying.
Without a doubt, inflation is rising. Interest rates are rising in an effort to offset some of the inflationary impacts. Consumer spending is strong, but there is still a chance that demand in all areas of commerce may fall.
It should be noted that the corporations we cover are equally weighted in the Index, implying that even the smallest capitalization companies have the same clout as their much larger competitors. In certain cases, the most remarkable changes in our universe were not necessarily followed by company-specific news.
Blend plummeted by 20% in one week. Concerns about a housing slowdown may be impacting on Opendoor Technologies, which was down almost 16 percent. Upstart lost around 14% of its value.
