The Dow Jones Industrial Average fell sharply by more than 300 points on Tuesday, while losses in tech stocks eased over Fed Chief Powell’s financial remarks. Bitcoin fell below $ 45,000. EV leaders Neo and Tesla shares fell 15% and 12% before declining.
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Among the Dow Jones leaders, Apple (AAPL) while down 2.4% Micro .ft (MSFT) is down about 1% in today’s stock market. Disney (DIS) Admission is back in the above purchase range. Meanwhile, Home Depot (HD) fell 5% despite strong earnings results early Tuesday.
Tesla (TSLA) sank as much as 12% on Tuesday Neo (NIO) depreciated 15%, as they both continue to decline rapidly. Both reduced their heavy losses in the afternoon trade. Cadence design systems (CDNS) and Zoominfo (ZI) reported strong earnings results late Monday night.
Apple Pal, Micro .ft, Tesla and Zoom Info are IBD leaderboard stocks. Shoals Technologies was the IBD stock of the day on Thursday.
Dow Jones Today: Powell Comments
On Tuesday, the Dow Jones Industrial Average fell 0.5%, while the S&P 500 moved down 0.8%. The tech-heavy Nasdaq Composite plunged 3.1% in midday trading after sinking as much as% in the opening minutes of trading.
Earlier Tuesday, Fed Chief Jerome Powell reiterated that the Fed is “committed to using our full range of tools to support the economy and ensure recovery from these difficult times will be as strong as possible,” in a speech to members of Congress.
Powell commented that inflation and employment remain below the Fed’s objectives, meaning that simple monetary policy is likely to stay in place.
US stock market observed today |
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|---|---|---|---|---|
| Index | Symbol | Price | Advantages / disadvantages | Change% |
| Dow Jones | (0 DJIA) | 31368.26 | -153.43 | -0.49 |
| S&P 500 | (0s and p5) | 3844.28 | -32.22 | -0.83 |
| Nasdaq | (0NDQC) | 13273.63 | -259.42 | -1.92 |
| Russell 2000 | (IWM) | 219.19 | Is -4.54 | -2.03 |
| IBD50 | (FFTY) | 45.72 | -1.76 | -3.71 |
Last updated: 10:36 AM and 2/23/2021 |
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Among exchange traded funds, Innovator IBD50 (FFTY) traded down 4.5% on Tuesday. Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) lost 2.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) stabilized below 1%.
Stock market rally
Looking at the current uptrend, November was the main month for the stock market. IBD’s Big Picture marked a new uptrend on November 4, following a market rally. Meanwhile, the Dow Jones Industrial Average in mid-February, the Nasdaq and the S&P 500 are pulling back from record highs.
On Monday, Big Picture warned that “just four trading sessions ago, the market cap-weighted Nasdaq touched a new all-time high and closed above 14,000 in the third straight session. But the fourth decline in the last five sessions has now streamlined the index year.” 5% to date. “
Focus on stocks showing strong relative strength during current weakness. They could be some market leaders if the index is able to return to their record-setting ways.
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Bitcoin price dives
Bitcoin dived about 13% at midnight on Tuesday, according to Coindesk, before falling short of 45,000 in the morning trade before splitting the loss to 47,700. Bitcoin was valued at રહી 57,000 on Saturday and ડ 58,000 on Sunday, eventually reaching, 58,332.
Grayscale Bitcoin Trust (GBTC) ETFs fell 12%, threatening to rise to 5.6% on Monday.
Dow Jones Stocks: Disney
Within the Dow Jones Industrial Average, according to IBD Marketsmith chart analysis, Disney is out of the range of 183.50 by points before the buy in the flat base. 5% Buy Area goes up to 192.68.
Disney stock rose 4.5% on Monday. Shares moved them out of the buying range by a further 2% on Tuesday afternoon.
Dow Jones earnings: Home Depot
The Dow Jones huge home depot fell more than 3% on Tuesday afternoon following the company’s earnings results ahead of the open. Shares are trying to find support near their 50-day line.
The company reported higher-than-expected Q4 earnings and sales results. HD Home Depot’s revenue rose 16% to 65 2.65, including 9 cents on a one-time cost of acquiring supplies. Revenue rose 25% to 32 32.26 billion. U.S. Sales at the same store grew 24.5%, with Comps up 25%.
Stock market earnings: Cadence, Zoominfo
Cadence Design Systems and IBD Leaderboard Stock Zoom Info reported earnings after Monday’s close.
Cadence pulled back to its 0-day line on Monday amid a 65.6565% decline. Nearly Monday, Cadence reported strong Q4 results. The company adjusted its stake to 83 83 cents on sales of 60,760 million in the December quarter. Analysts predicted Cadence’s earnings of 74 cents a share on ad sales of 73 732 million.
Shares fell 0.7% at noon on Tuesday.
Zoominfo slipped 6.25% on Monday, closing below the 53.18 entry in a cup base. Nearly Monday, Zoominfo reported strong Q4 results and better-than-expected Q1 sales guidance. The stock jumped 13% at noon on Tuesday.
According to the leaderboard comment, “Zoominfo was added to the leaderboard on February 1 when the short handle was cleared. But since the handle is very narrow, an optional entry of 53.18 was also allowed. The latest support was the first phase, the company announced in June . “
Neo stock
Tesla rival Neo fell 17% from noon on Tuesday, with it stumbling 7.9% on Monday. Shares lost about 6.8% in early morning trading.
Shares broke from their 50-day line, their main selling signal, on Monday. Shares, meanwhile, hit a 7% -8% loss-cutting rule on February 18 from their 57.30 buy points.
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Tesla stock
Tesla stocks threatened to extend the loss streak in four sessions on Tuesday. Shares broke through their 50-day moving average line, a key support level, on Monday.
On Sunday, Tesla stopped taking orders for the cheapest version of the Model Y Standard Range Sport utility vehicle, according to its website, with prices starting just over a month later, according to its website.
On January 25, Tesla shares touched 900.40 after falling 93% from 466 by points in the Handled Cup.
Dow Jones leaders: Apple Pal, Micro .ft
Among the top Dow Jones stocks, Apple Pal fell 2.4% on Tuesday. Apple Pal stock is below its 10-week line, but a strong rally behind the level will be bullish for the stock’s prospect.
On February 18, the stock traded down 7% -8%, falling more than 7% from its 138.89 buy point in the handle cup.
Meanwhile, the micro .ft fell nearly 1% at midnight on Tuesday. The stock is trying to find support at its 232.96 buy point, but it is down.
Be sure to follow Scott Lehotton on Twitter @IBD_SLehtonen Growth for stocks and more on the Dow Jones Industrial Average.
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