Despite the Nasdaq (QQQ) trading at new all-time highs only a few days ago, wary investors are looking for signs of market stability. Readers should watch three stocks that fell by 7.56% or more.
Airbnb (ABNB) fell by 5% in the last week. Investors are pricing in the impact of persistently high energy prices. Fuel costs will raise airfare prices, which hurts travel volumes. ABNB stock closed below $150 but managed to rebound back to $157.5. Still, it erased its August Rally that had sent the stock to a high of $193.45.
Meta Platforms (META) has a powerful AI agent that will help its users shop for the best mobile phone, insurance, and other service rates. ABNB stock potentially fell on fears that the AI assistant/agent disrupts its business model.
Paychex (PAYX) lost 12% in the last week to close at $101.37. That is below the 200-day simple moving average. The firm posted first-quarter profits of $429.7 million ($1.21 in EPS).
Watch Energy Prices
Markets will nervously monitor the price of oil. Prices bounced on Wednesday, reversing Tuesday’s decline. Brent crude futures jumped over the weekend, trading recently at nearly $106. Investors who built a position in BP plc (BP), ExxonMobil (XOM), and ConocoPhillips (COP) will get rewarded.
S&P Global (SPGI) posted strong manufacturing and services purchasing managers’ index data. The booming U.S. business suggests that the Federal Reserve will need to raise interest rates again at its next meeting in October.
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