The major US stock indices are now into negative territory after giving up the earlier gains on the better-than-expected PPI data.
A snapshot of the market currently shows:
- Dow Jones Industrial Average (DJI): 52,453.24, -60.00 points (-0.11%)
- S&P 500 (SPX): 7,533.11, -10.49 points (-0.14%)
- Nasdaq Composite (IXIC): 26,091.62, -15.39 points (-0.06%)
- Russell 2000 (RUT): 2,964.0346, -0.7292 points (-0.02%)
At session highs the indices showed:
- Dow of 316.04 points
- S&P up 37.90 points.
- NASDAQ index up 209.81 points
Looking at the Nasdaq index, the price is approaching the 200 hour MA and 100 hour MA again. The 200 hour MA is at 26011. The 100 hour MA is at 25892.
Once again, there are some big single day losers. Below is a list of some of those companies under pressure today.
- SanDisk (SNDK): 1,487.07, -15.40%
- Dell Technologies (DELL): 392.89, -14.13%
- Western Digital (WDC): 499.29, -11.37%
- Micron (MU): 878.85, -10.61%
- Corning (GLW): 168.24, -10.34%
- Ambarella (AMBA): 65.91, -9.60%
- Ciena (CIEN): 405.43, -9.28%
- Marvell Technology (MRVL): 202.29, -9.06%
- Arista Networks (ANET): 167.21, -8.41%
- Intel (INTC): 99.54, -7.63%
- Lam Research (LRCX): 321.05, -7.24%
- AMD (AMD): 512.90, -6.43%
- GE Vernova (GEV): 1,001.17, -6.08%
- Cisco Systems (CSCO): 111.04, -5.17%
- Arm Holdings (ARM): 267.39, -4.90%
The large declines in these names highlight the divergence in the winners and losers. Those are big declines for a single day.
Some winners today are:
- PayPal (PYPL): 55.03, +16.18%
- BlackRock (BLK): 1,095.65, +6.85%
- Alibaba ADR (BABA): 118.87, +5.83%
- Tencent ADR (TCEHY): 61.605, +5.60%
- Chewy (CHWY): 21.34, +4.86%
- Lyft (LYFT): 16.36, +4.84%
- Roblox (RBLX): 56.82, +4.31%
- Apple (AAPL): 328.20, +4.24%
- Target (TGT): 139.14, +3.83%
- Booking Holdings (BKNG): 181.43, +3.76%
- Alphabet Class A (GOOGL): 372.31, +3.56%
This article was written by Greg Michalowski at investinglive.com.