Stocks fell Thursday after jobs data showed the labor market is still strong despite the Federal Reserve’s interest rate hikes to tame inflation. The Dow shed 1.02%. The S&P 500 fell 1.17%. The Nasdaq dropped 1.47%.
The Dow Jones Industrial Average fell 340 points, or 0.89%, to 32,929.72. It was weighed down by Walgreens, which lost 6.13% after earnings showed a $5.2 billion opioid litigation settlement drove a quarterly loss.
The S&P 500 shed 1.17% to close at 3,807.99 and the Nasdaq Composite slipped 1.47% to 10,305.24. Bed, Bath & Beyond shed 29.88% after saying its short on cash and considering bankruptcy, and crypto-friendly bank Silvergate Capital plummeted 42.73% after it disclosed major customer withdrawals.Bullish sentiment in weekly retail investor survey among 60 lowest in history
Weekly bullish stock market sentiment fell to 20.5% in the latest survey by the American Association of Individual Investors, down from 26.5% last week and among the 60 lowest readings in the history of the survey, which began in 1987. Neutral sentiment climbed to 37.5% — the highest since March 2022 — from 25.9% in the survey ended Dec. 28, while bearish sentiment fell to 42% from 47.6%.
Earlier this week, the weekly Investors Intelligence survey of financial newsletter writers showed bullish sentiment at 36.6%, down from 37.5% the week before and a December high of 43.3%. Bearish view edged up to 33.8% from 33.3%, but remains far below the recent peak of 44.1% seen in early October.
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