$Rig's Platinum Penny Alerts

[RIGATONI]

I think we have some time before that will happen..

There are no good indicators and this wont turn around fast.

I have been hearing, "we are now bottomed" for months . Yea, eventually we will. And how mush destruction will be done by then?

A i said, sporadic movers is what we will see moving forward imo.

Admin has no sense of problem solving and actually doing something good which isnt in their DNA but incompetence seems to be.

Stock market news live updates: Stocks sink as Dimon warns of 'negative consequences' from inflation, Fed
Alexandra Semenova
Alexandra Semenova·Reporter
Thu, July 14, 2022 at 9:33 AM
In this article:

C
-3.65%


^IXIC
-1.77%


DAL
-1.06%


PEP
-1.12%


^GSPC
-1.87%


^DJI
-1.96%


JPM
-4.77%


U.S. stocks deepened losses at Thursday’s open as investors reeled from shock inflation data that renewed worries over aggressive Federal Reserve action and digested earnings from some of Wall Street's big banks.

The S&P 500 dropped 1.3% in pre-market trading, and the Dow Jones Industrial Average shed 470 points, or 1.5%. Tech-heavy Nasdaq fell 0.8%.

The moves come after all three major indexes tumbled Wednesday following fresh CPI data that showed prices across the U.S. economy surged at the fastest pace since 1981.

Also on the economic data front, initial jobless claims again edged higher last week in a potential sign the labor market may be cooling as the Federal Reserve tightens financial conditions. First-time filings for unemployment insurance in the U.S. increased to 244,000 in the week ended July 9, up by 9,000 from the prior period, Labor Department data showed Thursday morning. Economists surveyed by Bloomberg had expected the latest figure to come in at 235,000.

The producer price index for final demand — a gauge of wholesale and business prices — surged 11.3% year-over-year in June and 1.1% from the prior month, the Labor Department also reported Thursday, underscoring inflationary pressures at the wholesale level.