eToro
By eToro

Commodities have rough week, Wall Street rallies: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Novavax, Inc. (NVAX), Coinbase Global Inc. (COIN), Aurora Cannabis Inc. (ACB), MercadoLibre (MELI), and Roku Inc. (ROKU). 

  • Novavax, Inc. (NVAX) share price rose more than 28% last week. The biotech company has had a rollercoaster June, with its share price dropping more than 35% before bouncing back since mid-June. Last week, the company received good news that its Covid-19 vaccine has received emergency use authorization (EUA) in Taiwan.
  • Coinbase Global Inc. (COIN) shares skyrocketed despite an analyst downgrade, as a reasonably steady cryptocurrency market supported the cryptocurrency exchange stock.
  • Aurora Cannabis Inc. (ACB) shares soared after the cannabis producer had its rating adjusted from neutral to overweight by a Cantor Fitzgerald analyst.
  • Shares of MercadoLibre (MELI) surged after the Latin American online marketplace company announced it was starting to offer life insurance in Brazil.
  • Roku Inc. (ROKU) shares jumped more than 19% last week after an analyst commented that Netflix’s entrance into the ad-based streaming tier could benefit Roku. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Novavax, Inc. (NVAX) 11.43 (+28.40%) 51.67 Consumer Goods
Coinbase Global Inc. (COIN) 11.49 (+22.43%) 62.71 Financial
Roku Inc. (ROKU) 16.35 (+19.84%) 98.77 Services
Aurora Cannabis Inc. (ACB) 0.24 (+18.46%) 1.54 Healthcare
MercadoLibre (MELI) 104.24 (+16.41%) 739.46 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Robolox Corp. (RBLX), Unity Software Inc. (U), Cloudflare (NET), Palantir Technologies Inc. (PLTR), and Shopify Inc. (SHOP).

  • Shares of online gaming company Robolox Corp. (RBLX) surged despite not making any official announcements last week. Roblox was near its all-time low when investors saw the stock as a bargain.
  • Shares of game engine software company Unity Software Inc. (U) roared back to their earlier trading price as of the beginning of June. The company’s shares had dropped along with the general fear of a recession as well as an analyst’s “sell” rating of the stock at the beginning of the month. However, the stock has now bounced back.
  • Cloudflare (NET) shares jumped as the cloud services provider announced its Cloudflare One Partner Program, offering zero trust solutions to its partners. The climb occurred during a week when the company suffered an outage that affected businesses worldwide.
  • Shares of software company Palantir Technologies Inc. (PLTR) and e-commerce company Shopify Inc. (SHOP) popped after receiving “buy” ratings from analysts.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Robolox Corp. (RBLX) 9.55 (+35.54%) 36.42 Technology
Unity Software Inc. (U) 11.33 (+31.93%) 46.81 Consumer Goods
Cloudflare (NET) 10.63 (+25.79%) 51.84 Technology
Palantir Technologies Inc. (PLTR) 1.95 (+23.67%) 10.11 Technology
Shopify Inc. (SHOP) 68.34 (+21.57) 385.23 Technology

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for ACADIA Pharmaceuticals Inc. (ACAD), Tellurian Inc. (TELL), CalAmp Corp (CAMP), Centennial Resource Development Inc/DE (CDEV), and Green Plains Inc. (GPRE).

  • ACADIA Pharmaceuticals Inc. (ACAD) shares tanked after the FDA voted against approving the company’s Pimavanserin drug for treating Alzheimer’s disease psychosis, citing that the data did not sufficiently demonstrate the drug’s effectiveness in treating hallucinations and delusions.
  • Energy stock Tellurian Inc. (TELL) declined this week as the company was sensitive to the volatile oil and gas markets which took a dive last week. In addition, as interest rates go up, Tellurian’s new LNG plant currently under construction is only costing more without generating revenue.  
  • Shares of CalAmp Corp (CAMP) dropped after the company reported a $12.2 million loss in its first-quarter earnings report and fell short of analysts’ expectations. 
  • Oil producer Centennial Resource Development Inc/DE (CDEV) had a rough week as its shares fell 13% over the last week, joining a number of other energy companies who were negatively affected by the plunge in oil and gas prices.
  • Ethanol fuel producer Green Plains Inc. (GPRE) saw its shares tumble more than 11% last week. The Nebraska-based company has seen its share price slide around 30% since the beginning of June.   

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
ACADIA Pharmaceuticals Inc.

(ACAD)

 -4.53 (-23.22%)  14.98 Consumer Goods
Tellurian Inc. (TELL) -0.63 (-17.85%) 2.90 Consumer Goods
CalAmp Corp (CAMP) -1.06 (-17.52%) 4.99 Services
Centennial Resource Development Inc/DE (CDEV) -0.95 (-13.10%) 6.30 Consumer Goods
Green Plains Inc. (GPRE) -3.38 (-11.17%)  26.87 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Avaya Holdings Corp. (AVYA), Ecopetrol SA (EC), Excelerate Energy Inc. (EE),  Teck Resources Ltd (TECK), and Comstock Resources, Inc. (CRK) all experienced negative movement over the past week.

  • Avaya Holdings Corp. (AVYA) shares crashed late last week after the communications software company announced it would be issuing more debt. Avaya will soon have close to $250 million in debt obligations.
  • Shares of Colombian-based Ecopetrol SA (EC) plunged last week after Gustavo Petro was elected the new president of the country. Petro has pledged to phase out fossil fuels and investors began reacting to this potential reality.
  • Excelerate Energy Inc. (EE) stock dropped almost 15% last week. The LNG solutions company had a rough week along with the broader natural gas market which took a dive last week. 
  • Teck Resources Ltd (TECK) shares dropped last week after Foundation Resource Management, Inc. reduced its stake in the company in the first quarter by almost 6%.
  • Comstock Resources, Inc. (CRK) shares fell more than 12% last week and were trading just above $13 per share at the end of the week. In early June, the company reached a 52-week high of more than $22 per share and since then has been tumbling.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Avaya Holdings Corp. (AVYA) -1.08 (-27.34%) 2.87 Technology
Ecopetrol SA (EC) -2.65 (-19.37%) 11.03 Consumer Goods
Excelerate Energy Inc. (EE) -3.66 (-14.94%) 20.83 Basic Materials
Teck Resources Ltd (TECK) -4.77 (-13.08%) 31.69 Basic Materials
Comstock Resources, Inc. (CRK) -1.59 (-12.59%) 13.19 Consumer Goods

Highlights and Lowlights

Wall Street had a positive week as major US stock indices broke a three-week losing streak. The NASDAQ 100 jumped more than 7%, the SPX500 gained more than 6%, and the DJ30 added more than 5%. Commodities had a rough week with oil continuing to plunge as it dropped approximately $8 over the week and was trading under $107 at the outset of the week. The price of wheat fell close to 15%, down $150 at the end of the week. Natural gas fell more than 10% last week, and copper fell around 8%. Bitcoin fell briefly to under $18,000 at the beginning of the week, although it rose more than $3,000 during the week and was trading above $21,000 at the beginning of this week.

What’s in Store for the Week?

Some major companies are set to announce earnings reports this week, including Nike, Jeffries Financial Group on Monday, Paychex and General Mills on Wednesday, Micron,  Constellation Brands and Walgreens on Thursday. For a list of all of the companies set to report earnings this week, see the eToro earnings season calendar.

On Wednesday, Fed Chair Jerome Powell, Bank of England Governor Andrew Bailey, and European Council Bank President Christine Lagarde will speak at a central banking conference in Portugal. In addition, the third estimate of 2022 first-quarter GDP will be released. On Thursday, the Bureau of Economic Analysis will release CPI data for the month of May. Weekly unemployment claims will be released by the US Department of Labor. On Friday, the Institute for Supply Management will release PMI data for June.

eToro
By eToro

copy_of Commodities have rough week, Wall Street rallies: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Novavax, Inc. (NVAX), Coinbase Global Inc. (COIN), Aurora Cannabis Inc. (ACB), MercadoLibre (MELI), and Roku Inc. (ROKU). 

  • Novavax, Inc. (NVAX) share price rose more than 28% last week. The biotech company has had a rollercoaster June, with its share price dropping more than 35% before bouncing back since mid-June. Last week, the company received good news that its Covid-19 vaccine has received emergency use authorization (EUA) in Taiwan.
  • Coinbase Global Inc. (COIN) shares skyrocketed despite an analyst downgrade, as a reasonably steady cryptocurrency market supported the cryptocurrency exchange stock.
  • Aurora Cannabis Inc. (ACB) shares soared after the cannabis producer had its rating adjusted from neutral to overweight by a Cantor Fitzgerald analyst.
  • Shares of MercadoLibre (MELI) surged after the Latin American online marketplace company announced it was starting to offer life insurance in Brazil.
  • Roku Inc. (ROKU) shares jumped more than 19% last week after an analyst commented that Netflix’s entrance into the ad-based streaming tier could benefit Roku. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Novavax, Inc. (NVAX) 11.43 (+28.40%) 51.67 Consumer Goods
Coinbase Global Inc. (COIN) 11.49 (+22.43%) 62.71 Financial
Roku Inc. (ROKU) 16.35 (+19.84%) 98.77 Services
Aurora Cannabis Inc. (ACB) 0.24 (+18.46%) 1.54 Healthcare
MercadoLibre (MELI) 104.24 (+16.41%) 739.46 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Robolox Corp. (RBLX), Unity Software Inc. (U), Cloudflare (NET), Palantir Technologies Inc. (PLTR), and Shopify Inc. (SHOP).

  • Shares of online gaming company Robolox Corp. (RBLX) surged despite not making any official announcements last week. Roblox was near its all-time low when investors saw the stock as a bargain.
  • Shares of game engine software company Unity Software Inc. (U) roared back to their earlier trading price as of the beginning of June. The company’s shares had dropped along with the general fear of a recession as well as an analyst’s “sell” rating of the stock at the beginning of the month. However, the stock has now bounced back.
  • Cloudflare (NET) shares jumped as the cloud services provider announced its Cloudflare One Partner Program, offering zero trust solutions to its partners. The climb occurred during a week when the company suffered an outage that affected businesses worldwide.
  • Shares of software company Palantir Technologies Inc. (PLTR) and e-commerce company Shopify Inc. (SHOP) popped after receiving “buy” ratings from analysts.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Robolox Corp. (RBLX) 9.55 (+35.54%) 36.42 Technology
Unity Software Inc. (U) 11.33 (+31.93%) 46.81 Consumer Goods
Cloudflare (NET) 10.63 (+25.79%) 51.84 Technology
Palantir Technologies Inc. (PLTR) 1.95 (+23.67%) 10.11 Technology
Shopify Inc. (SHOP) 68.34 (+21.57) 385.23 Technology

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for ACADIA Pharmaceuticals Inc. (ACAD), Tellurian Inc. (TELL), CalAmp Corp (CAMP), Centennial Resource Development Inc/DE (CDEV), and Green Plains Inc. (GPRE).

  • ACADIA Pharmaceuticals Inc. (ACAD) shares tanked after the FDA voted against approving the company’s Pimavanserin drug for treating Alzheimer’s disease psychosis, citing that the data did not sufficiently demonstrate the drug’s effectiveness in treating hallucinations and delusions.
  • Energy stock Tellurian Inc. (TELL) declined this week as the company was sensitive to the volatile oil and gas markets which took a dive last week. In addition, as interest rates go up, Tellurian’s new LNG plant currently under construction is only costing more without generating revenue.  
  • Shares of CalAmp Corp (CAMP) dropped after the company reported a $12.2 million loss in its first-quarter earnings report and fell short of analysts’ expectations. 
  • Oil producer Centennial Resource Development Inc/DE (CDEV) had a rough week as its shares fell 13% over the last week, joining a number of other energy companies who were negatively affected by the plunge in oil and gas prices.
  • Ethanol fuel producer Green Plains Inc. (GPRE) saw its shares tumble more than 11% last week. The Nebraska-based company has seen its share price slide around 30% since the beginning of June.   

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
ACADIA Pharmaceuticals Inc.

(ACAD)

 -4.53 (-23.22%)  14.98 Consumer Goods
Tellurian Inc. (TELL) -0.63 (-17.85%) 2.90 Consumer Goods
CalAmp Corp (CAMP) -1.06 (-17.52%) 4.99 Services
Centennial Resource Development Inc/DE (CDEV) -0.95 (-13.10%) 6.30 Consumer Goods
Green Plains Inc. (GPRE) -3.38 (-11.17%)  26.87 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Avaya Holdings Corp. (AVYA), Ecopetrol SA (EC), Excelerate Energy Inc. (EE),  Teck Resources Ltd (TECK), and Comstock Resources, Inc. (CRK) all experienced negative movement over the past week.

  • Avaya Holdings Corp. (AVYA) shares crashed late last week after the communications software company announced it would be issuing more debt. Avaya will soon have close to $250 million in debt obligations.
  • Shares of Colombian-based Ecopetrol SA (EC) plunged last week after Gustavo Petro was elected the new president of the country. Petro has pledged to phase out fossil fuels and investors began reacting to this potential reality.
  • Excelerate Energy Inc. (EE) stock dropped almost 15% last week. The LNG solutions company had a rough week along with the broader natural gas market which took a dive last week. 
  • Teck Resources Ltd (TECK) shares dropped last week after Foundation Resource Management, Inc. reduced its stake in the company in the first quarter by almost 6%.
  • Comstock Resources, Inc. (CRK) shares fell more than 12% last week and were trading just above $13 per share at the end of the week. In early June, the company reached a 52-week high of more than $22 per share and since then has been tumbling.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Avaya Holdings Corp. (AVYA) -1.08 (-27.34%) 2.87 Technology
Ecopetrol SA (EC) -2.65 (-19.37%) 11.03 Consumer Goods
Excelerate Energy Inc. (EE) -3.66 (-14.94%) 20.83 Basic Materials
Teck Resources Ltd (TECK) -4.77 (-13.08%) 31.69 Basic Materials
Comstock Resources, Inc. (CRK) -1.59 (-12.59%) 13.19 Consumer Goods

Highlights and Lowlights

Wall Street had a positive week as major US stock indices broke a three-week losing streak. The NASDAQ 100 jumped more than 7%, the SPX500 gained more than 6%, and the DJ30 added more than 5%. Commodities had a rough week with oil continuing to plunge as it dropped approximately $8 over the week and was trading under $107 at the outset of the week. The price of wheat fell close to 15%, down $150 at the end of the week. Natural gas fell more than 10% last week, and copper fell around 8%. Bitcoin fell briefly to under $18,000 at the beginning of the week, although it rose more than $3,000 during the week and was trading above $21,000 at the beginning of this week.

What’s in Store for the Week?

Some major companies are set to announce earnings reports this week, including Nike, Jeffries Financial Group on Monday, Paychex and General Mills on Wednesday, Micron,  Constellation Brands and Walgreens on Thursday. For a list of all of the companies set to report earnings this week, see the eToro earnings season calendar.

On Wednesday, Fed Chair Jerome Powell, Bank of England Governor Andrew Bailey, and European Council Bank President Christine Lagarde will speak at a central banking conference in Portugal. In addition, the third estimate of 2022 first-quarter GDP will be released. On Thursday, the Bureau of Economic Analysis will release CPI data for the month of May. Weekly unemployment claims will be released by the US Department of Labor. On Friday, the Institute for Supply Management will release PMI data for June.

eToro
By eToro

copy_of copy_of Commodities have rough week, Wall Street rallies: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Novavax, Inc. (NVAX), Coinbase Global Inc. (COIN), Aurora Cannabis Inc. (ACB), MercadoLibre (MELI), and Roku Inc. (ROKU). 

  • Novavax, Inc. (NVAX) share price rose more than 28% last week. The biotech company has had a rollercoaster June, with its share price dropping more than 35% before bouncing back since mid-June. Last week, the company received good news that its Covid-19 vaccine has received emergency use authorization (EUA) in Taiwan.
  • Coinbase Global Inc. (COIN) shares skyrocketed despite an analyst downgrade, as a reasonably steady cryptocurrency market supported the cryptocurrency exchange stock.
  • Aurora Cannabis Inc. (ACB) shares soared after the cannabis producer had its rating adjusted from neutral to overweight by a Cantor Fitzgerald analyst.
  • Shares of MercadoLibre (MELI) surged after the Latin American online marketplace company announced it was starting to offer life insurance in Brazil.
  • Roku Inc. (ROKU) shares jumped more than 19% last week after an analyst commented that Netflix’s entrance into the ad-based streaming tier could benefit Roku. 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Novavax, Inc. (NVAX) 11.43 (+28.40%) 51.67 Consumer Goods
Coinbase Global Inc. (COIN) 11.49 (+22.43%) 62.71 Financial
Roku Inc. (ROKU) 16.35 (+19.84%) 98.77 Services
Aurora Cannabis Inc. (ACB) 0.24 (+18.46%) 1.54 Healthcare
MercadoLibre (MELI) 104.24 (+16.41%) 739.46 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Robolox Corp. (RBLX), Unity Software Inc. (U), Cloudflare (NET), Palantir Technologies Inc. (PLTR), and Shopify Inc. (SHOP).

  • Shares of online gaming company Robolox Corp. (RBLX) surged despite not making any official announcements last week. Roblox was near its all-time low when investors saw the stock as a bargain.
  • Shares of game engine software company Unity Software Inc. (U) roared back to their earlier trading price as of the beginning of June. The company’s shares had dropped along with the general fear of a recession as well as an analyst’s “sell” rating of the stock at the beginning of the month. However, the stock has now bounced back.
  • Cloudflare (NET) shares jumped as the cloud services provider announced its Cloudflare One Partner Program, offering zero trust solutions to its partners. The climb occurred during a week when the company suffered an outage that affected businesses worldwide.
  • Shares of software company Palantir Technologies Inc. (PLTR) and e-commerce company Shopify Inc. (SHOP) popped after receiving “buy” ratings from analysts.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Robolox Corp. (RBLX) 9.55 (+35.54%) 36.42 Technology
Unity Software Inc. (U) 11.33 (+31.93%) 46.81 Consumer Goods
Cloudflare (NET) 10.63 (+25.79%) 51.84 Technology
Palantir Technologies Inc. (PLTR) 1.95 (+23.67%) 10.11 Technology
Shopify Inc. (SHOP) 68.34 (+21.57) 385.23 Technology

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for ACADIA Pharmaceuticals Inc. (ACAD), Tellurian Inc. (TELL), CalAmp Corp (CAMP), Centennial Resource Development Inc/DE (CDEV), and Green Plains Inc. (GPRE).

  • ACADIA Pharmaceuticals Inc. (ACAD) shares tanked after the FDA voted against approving the company’s Pimavanserin drug for treating Alzheimer’s disease psychosis, citing that the data did not sufficiently demonstrate the drug’s effectiveness in treating hallucinations and delusions.
  • Energy stock Tellurian Inc. (TELL) declined this week as the company was sensitive to the volatile oil and gas markets which took a dive last week. In addition, as interest rates go up, Tellurian’s new LNG plant currently under construction is only costing more without generating revenue.  
  • Shares of CalAmp Corp (CAMP) dropped after the company reported a $12.2 million loss in its first-quarter earnings report and fell short of analysts’ expectations. 
  • Oil producer Centennial Resource Development Inc/DE (CDEV) had a rough week as its shares fell 13% over the last week, joining a number of other energy companies who were negatively affected by the plunge in oil and gas prices.
  • Ethanol fuel producer Green Plains Inc. (GPRE) saw its shares tumble more than 11% last week. The Nebraska-based company has seen its share price slide around 30% since the beginning of June.   

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
ACADIA Pharmaceuticals Inc.

(ACAD)

 -4.53 (-23.22%)  14.98 Consumer Goods
Tellurian Inc. (TELL) -0.63 (-17.85%) 2.90 Consumer Goods
CalAmp Corp (CAMP) -1.06 (-17.52%) 4.99 Services
Centennial Resource Development Inc/DE (CDEV) -0.95 (-13.10%) 6.30 Consumer Goods
Green Plains Inc. (GPRE) -3.38 (-11.17%)  26.87 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Avaya Holdings Corp. (AVYA), Ecopetrol SA (EC), Excelerate Energy Inc. (EE),  Teck Resources Ltd (TECK), and Comstock Resources, Inc. (CRK) all experienced negative movement over the past week.

  • Avaya Holdings Corp. (AVYA) shares crashed late last week after the communications software company announced it would be issuing more debt. Avaya will soon have close to $250 million in debt obligations.
  • Shares of Colombian-based Ecopetrol SA (EC) plunged last week after Gustavo Petro was elected the new president of the country. Petro has pledged to phase out fossil fuels and investors began reacting to this potential reality.
  • Excelerate Energy Inc. (EE) stock dropped almost 15% last week. The LNG solutions company had a rough week along with the broader natural gas market which took a dive last week. 
  • Teck Resources Ltd (TECK) shares dropped last week after Foundation Resource Management, Inc. reduced its stake in the company in the first quarter by almost 6%.
  • Comstock Resources, Inc. (CRK) shares fell more than 12% last week and were trading just above $13 per share at the end of the week. In early June, the company reached a 52-week high of more than $22 per share and since then has been tumbling.

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Avaya Holdings Corp. (AVYA) -1.08 (-27.34%) 2.87 Technology
Ecopetrol SA (EC) -2.65 (-19.37%) 11.03 Consumer Goods
Excelerate Energy Inc. (EE) -3.66 (-14.94%) 20.83 Basic Materials
Teck Resources Ltd (TECK) -4.77 (-13.08%) 31.69 Basic Materials
Comstock Resources, Inc. (CRK) -1.59 (-12.59%) 13.19 Consumer Goods

Highlights and Lowlights

Wall Street had a positive week as major US stock indices broke a three-week losing streak. The NASDAQ 100 jumped more than 7%, the SPX500 gained more than 6%, and the DJ30 added more than 5%. Commodities had a rough week with oil continuing to plunge as it dropped approximately $8 over the week and was trading under $107 at the outset of the week. The price of wheat fell close to 15%, down $150 at the end of the week. Natural gas fell more than 10% last week, and copper fell around 8%. Bitcoin fell briefly to under $18,000 at the beginning of the week, although it rose more than $3,000 during the week and was trading above $21,000 at the beginning of this week.

What’s in Store for the Week?

Some major companies are set to announce earnings reports this week, including Nike, Jeffries Financial Group on Monday, Paychex and General Mills on Wednesday, Micron,  Constellation Brands and Walgreens on Thursday. For a list of all of the companies set to report earnings this week, see the eToro earnings season calendar.

On Wednesday, Fed Chair Jerome Powell, Bank of England Governor Andrew Bailey, and European Council Bank President Christine Lagarde will speak at a central banking conference in Portugal. In addition, the third estimate of 2022 first-quarter GDP will be released. On Thursday, the Bureau of Economic Analysis will release CPI data for the month of May. Weekly unemployment claims will be released by the US Department of Labor. On Friday, the Institute for Supply Management will release PMI data for June.