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Stock impact report

Etsy, Bumble, Skillz, Teladoc, and Reddit Stocks Trade Down, What You Need To Know [Yahoo! Finance]

Skillz Inc. Class A (SKLZ) 
Company Research Source: Yahoo! Finance
A number of stocks fell in the afternoon session after a steeper-than-anticipated drop in U.S. consumer confidence raised alarms about future consumer spending. The Conference Board reported its consumer confidence index fell to 94.2 in September, its lowest reading since April. The decline was attributed to growing pessimism among Americans regarding inflation and a weakening job market. This data is particularly concerning for companies reliant on discretionary spending, such as those in online retail, travel, and the gig economy, as reports suggest a bleak consumer outlook could curb spending on non-essential items and services. The survey's Expectations Index, a measure of short-term outlook, has remained below a key threshold that often signals a future recession, adding to investor concerns about the economic landscape. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks wer Show less Read more
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