Major indexes were mixed in the stock market today following remarks from Federal Reserve Chairman Jerome Powell on Tuesday. tesla (TSLA) rises as chip leader ASML (ASML) fell sharply due to lower sales in the first quarter.
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The Dow Jones Industrial Average rose 0.2%, trying to break a six-day losing streak. The S&P 500 also rose 0.1% on Tuesday after adding distribution days, while the Nasdaq fell slightly.
Anecdotal evidence on current economic activity is expected to be published in the Federal Reserve’s Beige Book later Wednesday. This is one of the data points the Fed will consider before setting interest rates on May 1st.
Volume on the New York Stock Exchange and Nasdaq was down compared to the same time Tuesday. But the breadth was strong, with four gainers to one loser on the NYSE and two to one on the Nasdaq. However, on average, the number of stocks making new highs is decreasing, and the number of stocks making new lows is increasing, especially on the Nasdaq.
The small-cap Russell 2000 rose 0.6%, but the Innovator IBD50 ETF (FFTY) was flat.
The benchmark 10-year Treasury yield fell 2 basis points to 4.63%. Bitcoin has fallen as the halving approaches.
dow jones stocks
Traveler (TRV) fell below its 50-day moving average, triggering a sell signal after its first-quarter earnings fell short of Wall Street expectations.
apple (AAPL) rose slightly on news that the iPhone maker may start manufacturing in Indonesia. Other tech leaders in the Dow were mixed. intel (INTC) and sales force (CRM) Slightly decreased microsoft (MSFT) rose 0.3%.
stock market today
united airlines (UAL) rose 11% after the company announced its first quarter results. Losses were lower than expected.
Chip gear maker ASML was sold after first-quarter sales were lower than expected and the company’s outlook for the current quarter was disappointing. The company also shipped a second “high NA” lithography machine that can create chip design features at 10 nanometers. The stock price fell below its 50-day moving average.
Meanwhile, Tesla Inc. fell more than 1% after the company’s board voted to reinstate Chief Executive Officer Elon Musk’s $56 billion compensation package. The package was established in 2018 but was struck down by a Delaware court in January. Shareholders will also vote to incorporate EV Leader in Texas instead of Delaware.
shares of Eli Lilly (LLY) rose 1.4% after the company’s weight loss drug was found to be effective for sleep disorders. Eli Lilly is trading flat with a buy point of 800.78.
children’s place (PLCE) soared more than 50% after the retailer secured a $90 million unsecured term loan. Stock prices have been on a downward trend since the second half of 2021.
Magnificent Seven stock and AI play Nvidia According to IBD Market Surge, (NVDA) fell but remained within a flat base with a buy point of 974.
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