The View from 5th Avenue

The View from 5th Avenue – 16 May 2022

The Nasdaq’s down -1.2% final today may incite a bit of PTSD from the past few weeks of losses. But despite the weakness, there was a real lack of conviction that left investors feeling unsettled. Pre-open, some were still trying to determine whether Friday's relief rally was the start of something real or barely a blip. For perspective, CCMP's (+3.8%) best day since 2020 left it -2.8% for last week, which marked 6 consecutive weekly losses of more than -1% (first time since 2001).

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