The Dow Jones Industrial Average briefly plunged more than 300 points on Tuesday, while tech stocks trimmed their losses due to the critical comments from Fed Chairman Powell. Bitcoin has fallen below $ 45,000. EV pioneers Nio and Tesla fell 15% and 12% before paring losses.
between the Dow Jones leadersAnd the Apple, city, cat (AAPLDecreased by 3.8%, while Microsoft (MSFTDecreased by more than 1% in Stock market today. Disney (Dis) Is back in the buy range above the entry level. while, Home Depot (High resolution) Is down 5% despite strong earnings results early Tuesday.
Tesla (TSLA) By up to 12% on Tuesday, while New (NIO) By 15%, as both continued to decline sharply. Both of them trimmed their heavy losses in morning trading. Rhythm design systems (CDNS) And the ZoomInfo (day) Reported strong earnings results late on Monday.
Dow Jones Today: Powell’s Comments
On Tuesday, the Dow Jones Industrial Average fell 0.3%, while the S&P 500 index fell 0.5%. The tech-heavy Nasdaq Composite is down 1.3% in morning trade after falling as much as 3.9% in the opening minutes of trading.
Early Tuesday, Fed Chairman Jerome Powell reiterated that the Fed “is committed to using our full suite of tools to support the economy and to help ensure that the recovery from this difficult period will be as strong as possible,” in a speech to members of Congress.
Powell commented that inflation and employment are still well below the Fed’s targets, which means that an easy monetary policy will likely remain in place.
An overview of the US stock market today
|index||Code||price||Profit / loss||% They change|
|Standard & Poor’s 500||(0S & P5)||3844.28||-32.22||-0.83|
Last update: 10:36 AM ET 2/23/2021
The stock market rises
Given the current bullish trend, November has been a major month for the stock market. IBD’s The Big Picture Marking a new bullish trend after the day of bullish market follow-up on November 4th. Meanwhile, in mid-February, the Dow Jones Industrial Average, Nasdaq and S&P 500 Index all fell from record highs.
The big picture for Monday He warned, “Just four trading sessions ago, the market capitalization-weighted Nasdaq index touched its highest level ever and closed above 14,000 for the third session in a row. But the fourth decline in the past five sessions has now reduced the general index so far to 5%.”
Focus on the arrows that appear Strong relative strength During the current weakness. They could be some of the market leaders if indices are able to revert to their record-setting methods.
Dive into bitcoin prices
Bitcoin plunged about 13% on Tuesday morning, briefly dropping below $ 45,000 before paring losses to $ 46,700 in morning trade, according to CoinDesk. Bitcoin surpassed $ 57,000 on Saturday and $ 58,000 on Sunday, ultimately reaching $ 58,332.
Gray Scale Bitcoin Fund (GBTCThe ETF is down 12%, threatening to add to Monday’s decline of 5.6%.
Dow Jones Stocks: Disney
Inside the Dow Jones Industrial Average, Disney is back in the buy range, with a score of 183.50 Point purchase at Flat base, to me IBD Market Smith Graph analysis. Purchase space increases 5% to 192.68.
Disney shares advanced 4.5% on Monday before paring losses to less than 0.1% on Tuesday morning.
Dow Jones profits: Home Depot
Home Depot giant Dow Jones plunged more than 5% Tuesday morning after Company earnings results Before opening. Equities are trying to find support near the 50 day line.
The company stated Better than expected profit for the fourth quarter And sales results. Home Depot earnings grew 16% to $ 2.65 a share, including 9 cents in one-off costs related to the acquisition of HD Supply. Revenue increased 25% to $ 32.26 billion. Same store sales increased 24.5%, with US companies increasing 25%.
Stock Market Earnings: Cadence, ZoomInfo
Rhythm design systems and IBD Leaderboard ZoomInfo stocks reported profits after the close on Monday.
The tempo slipped back to the 50-day line on Monday amid a 4.65% decline. After closing on Monday, I mentioned Rhythm Strong results in the fourth quarter. The company earned 83 cents per share from sales of $ 760 million in the December quarter. Analysts had expected Cadence to earn 74 cents a share from sales of $ 732 million.
Shares are down 2% on Tuesday morning.
ZoomInfo fell 6.25% on Monday, closing below the 53.18 entry level at the base of the cup. After the close on Monday, ZoomInfo reported strong fourth-quarter results and directed better-than-expected first-quarter sales. The stock jumped 11% on Tuesday morning.
According to Leaderboard’s comment, “ZoomInfo was added to Leaderboard on February 1 when a short handle was cleared. But because the handle was so narrow, the alternate entry 53.18 was also valid. The last rule was the first stage, after the enterprise program the company went public in June “.
Tesla’s rival Nio collapsed as much as 17% on Tuesday morning, adding to Monday’s stumble by 7.9%. The stocks trimmed their losses to around 4% in morning trading.
Stocks broke the 50-day line on Monday, which is a major sell signal. Meanwhile, the shares reached a base of cutting losses by 7% to 8% from the 57.30 buy point on February 18th.
Tesla shares threatened to extend their losing streak to four sessions on Tuesday, shedding more than 13% before paring losses to 1.3%. Stocks collapsed during the 50-day moving average line, an important support level, on Monday.
On January 25, Tesla stock hit a record high of 900.40, after rising 93% from 466 buy-in points in a cup-handle.
Dow Jones Leaders: Apple and Microsoft
From among the top Dow Jones StocksApple shares were down 3.8% on Tuesday. Apple stock is below the 10-week line, but a strong rebound above the level will be bullish on the stock’s outlook.
On February 18th, the stock launched a 7% -8% sell rule to cut losses when it fell more than 7% below 138.89 buy-in points in a handlebar.
Meanwhile, Microsoft shares fell 1% Tuesday morning. The stock is trying to find support at 232.96 buy point, but below it.
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