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Google Business NewsJun 30, 2022
Oil falls 3% on uncertainty over future OPEC output, recession fears - Reuters.com
Oil falls 3% on uncertainty over future OPEC output, recession fears  Reuters.comCrude Oil Ends Seven-Month Winning Streak While EU Stocks Suffer  DailyFXOil On Course For First Monthly Decline In 8 Months  OilPrice.comCrude Oil Lower; Recession Worries Weigh By Investing.com  Investing.com

MarketWatch MarketPulseJun 28, 2022
EBay stock downgraded as UBS worries about potential recession impacts on e-commerce
Shares of eBay Inc. were falling 2.5% in Tuesday morning trading after UBS analyst Kunal Madhukar downgraded the stock to neutral from buy, writing of growth concerns regarding the online marketplace. "Expectations are low, with non-Focus categories declining and with Focus categories, which are doing better, comprising purely discretionary spend which could be disproportionately impacted in a downturn," Madhukar wrote in a note to clients. The downgrade comes amid a UBS analysis of how the e-commerce sector could fare in a downturn, with Madhukar highlighting the rising possibility of a recession. He sees "greater macro sensitivity" for the e-commerce space in a modern recession, whereas e-commerce was still a small portion of overall retail sales during the financial crisis. Additionally, he worries that when the market recovers, eBay "could lag smaller-cap peers (which are likely to grow much faster in a recovery) until investors have better visibility into organic growth at eBay." Shares of eBay have declined 35% so far this year as the S&P 500 has dropped 19%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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