S&P 500 breaks 4-week win streak | Bed Bath & Beyond craters | A ‘textbook’ bear bounce?

The three major averages ended the week with losses.

VIEW IN BROWSER | SUBSCRIBE FRI, AUG 19, 2022 EVENING BRIEF AS OF FRI, AUG 19, 2022 • 04:59 ET DJIA 33706.74 -0.86% -292.30 S&P 500 4228.48 -1.29% -55.26 NASDAQ 12705.22 -2.01% -260.13 Most Active DOW NAME LAST CHG %CHG AAPL 171.52 -2.63 -1.51% INTC 35.38 -0.82 -2.27% CSCO 48.70 -0.67 -1.36% S&P 500 NAME LAST CHG %CHG OXY 71.29 +6.41 +9.88% AAPL 171.52 -2.63 -1.51% AMD 95.95 -4.49 -4.47% NASDAQ NAME LAST CHG %CHG AAPL 171.52 -2.63 -1.51% AMD 95.95 -4.49 -4.47% AMZN 138.23 -4.07 -2.86% EDITOR'S NOTE This week's rout in stocks seems to suggest that the market is overbought.   The three major averages ended Friday's session lower and down on the week, with the Nasdaq Composite tumbling 2% and 2.6%, respectively. At the same time, shares of Bed Bath & Beyond cratered 40.5% after Ryan Cohen pulled his stake.    According to some traders and analysts, the moves seen this week are nothing out of the ordinary given the surging conditions markets experienced as of late. "Typically when you have an overbought market … the market typically needs to rest, it needs to digest the gains and instead what we had was the market sort of inching higher," said Quincy Krosby of LPL Financial.   Jack Ablin of Cresset Capital echoes Krosby's overbought sentiment, pointing to speculative areas like growth stocks and tech as an area needing to come down as well.   "The smaller speculative growth, tech names, I think got ahead of themselves," Ablin said. "The Fed is still removing liquidity and speculation from the market and it just seems like an odd backdrop to be able to invest in speculative ideas right now." Samantha Subin | Associate Markets Reporter @samantha_subin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks fall Friday to notch weekly loss, S&P 500 snaps 4-week-long rally Activist investor Ryan Cohen completes planned sale of Bed Bath & Beyond stake, stock falls 40% Walmart expands abortion coverage for its employees in the wake of Roe v Wade decision Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares Inflation peaking? 10 common consumer items where prices are falling This is a 'textbook' bear market bounce that will fail, Bank of America says These are the best-performing S&P 500 stocks this week. Here's where analysts see them going Bed Bath & Beyond to drop to $3 after Cohen sale, potential debt restructuring, Telsey Group says GM to reinstate quarterly dividend and increase share buyback program to $5 billion Zelenskyy warns world is on 'verge of nuclear disaster'; More explosions reported at Russian military sites TOP VIDEO It's a little premature to say inflation is over, says BTIG's Jonathan Krinsky CNBC PRO Classic value investor Mason Hawkins loads up on GE and this surprising tech name SPECIAL REPORTS There's a new 1% tax on stock buybacks — here's what it means for your portfolio Crypto hackers have stolen nearly $2 billion this year—Here's why it's a growing problem Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS